The last year has been highly bullish for NFTs in terms of market cap and adoption. In addition, many celebrities and companies hopped in on the wagon to profit from this newfound technology, forever changing how we look at investments and assets.
NFTs have revolutionized digital art, music, fashion, and other industries. In addition, NFT is a prominent player in the currently developing Web3 infrastructure, which is about ownership and creator rights.
According to a report by CoinGecko, the NFT markets are estimated to grow in value by $800 Billion((INR 63 Trillion), and gaming is the most likely entry point for NFTs in retail.
From a layman's perspective, NFTs are certificates of ownership and authenticity; since CryptoPunk and Beeple's artworks were sold for tens of millions of dollars, NFTs have gained mainstream attention. Thus, companies like Coca-Cola, Louis Vuitton, McDonald's, and Pepsi also got into the NFT culture. These experiments with promotional events according to host companies' most exclusive products and services.
NFTs became a part of the gaming and metaverse ecosystem where in-game elements are NFTs and transactive in the markets outside the gaming black markets. NFTs even became a staple for digital artists who are struggling with both ownership and compensation issues. NFTs have their own marketplaces and ecosystems apart from your standard crypto markets and escrows.
NFTs have also grown to be a stunning investment strategy that can double or triple in value in the future; many are also a suitable mode for passive income where NFT holders get a specific cryptocurrency as a return.
Unsurprisingly, the world of NFTs is growing exponentially faster; NFTs are becoming a standard item, and naturally, various celebrities are getting in the NFT rush.
A wide range of celebrities, from athletes like Lionel Messi to rappers like Snoop Dog, have issued their NFTs for their fans; even sports clubs and institutions like JuventusFC and Australian Cricket associations have joined this craze.
That said, even Bollywood celebrities have joined this trend, and so far, the Indian crowd has responded positively. Let us look at some of the most famous Bollywood NFT collections that have amazed the crowd.
Legendary Bollywood star Amitabh Bachhan joined the NFT wagon last year in November. In partnership with the NFT marketplace Beyondlife club, he launched Madhushala, written by his father, Harivansh Rai Bachchan, and narrated by Amitabh Bachhan. These beautiful pieces of philosophical rhymes were sold onto the platform for $756,000 (INR 60 Million). Apart from Madhushala, 5000 other NFT arts signed posters were sold, earning him $50,000 (INR 3.9 million). Users could buy these NFTs with Matic or Ethereum tokens; unsurprisingly, they were sold out in 54 minutes.
Another legendary actor on the list, Rajnikanth, launched his personal NFT collections in collaboration with entertainment NFT marketplace Diginoor. There are three significant Rajnikanth collections in the marketplace, including Sivaji, based on the movie Sivaji the Boss(2007), Chandramukhi(2015), and Kabali(2016). These NFTs range anywhere from $100 to $2000 each.
Veteran superstar Kamal Hasan announced his own collection of Movie NFTs at the Canes film festival 2022. These NFTs will be live on Vistas Media Capital's Fantico platform; these NFTs are loaded with various exclusive experiences, mystery boxes, artworks, and memorabilia. Thus, many are waiting for the launch of these NFTs while the launch dates are not yet announced.
Another gem coming out of Diginoor is the late actor, and eco-activist Pasumai Vivekanandan(Vivek)'s NFT collection. But this will not just be another NFT collection; the project will be a token of honor of Vivek's Green Kalam initiative that helped plant more than 3.3 million saplings. NFT holders will be given saplings or seeds to plant, and the value of NFTs ranges from 50-150 MATIC.
Renowned actor Salman Khan also decided to join the NFT wagon with the help of Bollycoin. The NFT collection is based on the movie Dabangg and hosted on the Ethereum and Polygon blockchain. These were announced on Christmas eve last year and were live on 30th December.
Famous fashion designer Manish Malhotra also launched his NFT collection on the WazirX marketplace. Initially, Manish Malhotra launched five NFTs which were sketches, GIFs, and photos of some of the most iconic dresses of the designer, with the highest NFT, sold for 3000 WRX and the lowest being 1750 WRX.
One of the first actresses in the Bollywood space to enter the space of tokenized digital arts, Sunny Leone, launched MizFitz on the Ethereum blockchain. There are 9600 NFTs for her fans which can be minted. Each MizFitz can get its owners to access exclusive content and experiences along with the MizFitz metaverse. There will also be physical meetups, airdrops, and giveaways to keep the community engaged.
The digitalization and NFT world is changing the entertainment sector rapidly, where creators and celebrities can reach the audience on a personal level and also incite and encourage good causes in the community. The Web2 world did bring us closer, but the Web3 has the power to create and maintain bonds with your friends, family, and favorite celebrities like never before.