The Non-Fungible Token (NFT) collections of ‘Madhushala’, autographed posters and collectibles of Bollywood legend Amitabh Bachchan have received India’s highest ever bid to the tune of Rs 5.60 crore at the end of the auction.
Organised by Beyonlife.Club, the auction opened on November 1 and was concluded on November 4. The auction was powered by India’s one of the biggest decentralised branded marketplace NFTs – Guardian Link.
On day 1 of the auction, the NFTs garnered bids over Rs 3.1 Crores. The NFTs included Madhushala – the poem collection of Amitabh Bachchan’s father, Harivansh Rai Bachchan, recorded in the actor’s own voice. Also, the auction included seven autographed posters from his iconic movies and around six collectibles of “punks and NFTs art and poster collection”
However, Bachchan was not the first Indian celebrity to go live with the NFT auction. Malayalam movie actor Dulquer Salmaan had signed an agreement with Abu Dhabi-based technology company Ammbr to hold an NFT sale last month for his film Kurup. Also, singer Mika Singh, rapper Raftar and YouTuber Amit Badana have also collaborated with NFT marketplaces.
Non-Fungible Tokens (NFTs) are a unique and non-interchangeable unit of data that are recorded on a digital ledger – blockchain. It can be used to record easily-reproducible items such as images, videos, audio and other types of digital files as unique items and use blockchain technology to establish a verified and public proof of ownership. Copies of the original file are not restricted to the owner of the NFT and can be copied and shared like any file. NFTs lack interchangeability (fungibility) unlike blockchain cryptocurrencies, such as Bitcoin.