Amitabh Bachchan joins the NFT frenzy, becomes first Indian celeb to launch a memorabilia auction
Amitabh Bachchan, the Bollywood superstar, is the first Indian celebrity to get in on the global NFT craze by putting his digital artifacts up for sale on Monday. Tokens that aren’t fungible — such as drawings or animations — have become increasingly popular recently.
Affluent investors and collectors alike have flocked to the latest digital fad, which is based on the same blockchain technology that drives cryptocurrencies and cannot be altered in any way.
Poems, movie posters, and digital images of Bachchan will be up for bid on his virtual auction block.
Amitabh Bachchan, 79, stated in a statement that the NFTs “would offer the audience an opportunity to purchase a unique piece of rare and beloved moments of my life.”
It’s a three-day auction, and buyers from all across the world can participate. It closes at noon (0630 GMT) on Wednesday.
Analysts believe the auction will reveal whether or not India’s 1.3 billion citizens are interested in digital collectibles.
Crypto-education platform Bitinning was founded by Kashif Raza, a celebrity, artist, and sportsman.
“More people would hear about NFTs if Amitabh Bachchan talks about them on social media and elsewhere,” he told AFP.
Bollywood megastar Salman Khan and cricketer Rishabh Pant are also considering holding NFT auctions in India.
Even Hollywood bigwig Matt Damon is getting into cryptocurrency these days.
Actor Matt Damon will be the face of Crypto.com, according to Bloomberg. The cryptocurrency platform wants to attract new users and move the industry into the mainstream by using Damon’s celebrity endorsement.
Since last year, Crypto.com‘s user base has grown tenfold as interest in cryptocurrencies like Bitcoin has risen. This is their first global marketing effort. Over $100 million will be spent on advertising, with Damon-led commercials directed by Wally Pfister to air in over 20 countries.
Damon admitted in an interview that he had never done an endorsement like this before. This may be the start of a tremendous long-term collaboration, says one participant.
Sports leagues and clubs have signed arrangements with cryptocurrency companies such as Crypto.com, FTX, and Coinbase, all of which are investing heavily in marketing this year. There are also collaborations and personal investments by well-known celebrities.
