The popularity of Bollywood tokens is now on the rise. Aside from the mind-boggling success of the ’83’ movie NFT sale, we recently saw an NFT auction of Bollywood icon Amitabh Bachchan’s NFT collection, which brought one million dollars. While this is significant for the Indian industry, NFTs have achieved several milestones elsewhere.
“Bollywood NFTs could include stories, videos, photographs, shoot videos, behind-the-scenes footage, and so on. Now, all of these from original producers will be valuable and provide a sense of unique ownership of the object or digital copyright.”Shivam Thakral, CEO of BuyUcoin, a cryptocurrency exchange based in India.
Amitabh Bachchan’s NFT Made Extraordinary Profits In The Sector
We’ve all heard popular stories about Bitcoin, Ethereum, Litecoin, Ripple, and every cryptocurrency entering the market. You have an idea while investing in them, and you spend a few amount. It happens the majority of the time.
Although cryptos are identical, many individuals spend the same amount. Now, just as you would devote time to learning about cryptos, you should know about NFT. You should be aware of it since it establishes ownership of your virtual asset. Even though cryptos are the same, NFTs are distinct.
NFTs can be digital copyright that describes your ownership of a particular object. NFTs have their worth, which is determined by who generated them.
For example, if a well-known artist developed NFT or if the owner is a seasoned investor, it would be more valuable. Surprisingly, your status dictates the worth of your NFT when you have a digital object.
Buyers have made extraordinary profits in the NFT market. According to the marketplace BeyondLife.club, Amitabh Bachchan’s NFT ‘BigB Punks #1633’, initially purchased by an investor for $10 from Big B in November last year, is now valued at $2,500 by the current owner. The present owner of the NFT mentioned above paid $1,200 for it.
One of the NFT Collection invites showing Asia’s first meta-verse wedding, sold at a base price of $10; is currently being exchanged for a 400x price of almost $4,400.
NFT Buzz in Bollywood! Should You Invest?
Bollywood NFTs became well-known after Amitabh Bachchan, Salman Khan, and Sunny Leone entered the industry. There are other Amitabh Bachchan’s digital audio artefacts in Bollywood, but only the original from Amitabh Bachchan himself would be worthy.
However, given the actors’ popularity and the present trend of NFTs in India; it seems we can assess Bollywood NFTs as an investment opportunity for fans.
“A voice, meme, shorts/reels, and video can become valuable in the future and may double/triple the investment based on the actor(s) fame and content; depending on an original content producer from Bollywood.“Shivam Thakral, BuyUcoin CEO.
The value of Bollywood NFTs will increase or decrease depending on the performance and the buyer’s interest in the same. Furthermore, Thakral says, the owner may alter the value and sell it at a different price, resulting in loyalty established by the owner; which now ranges from 10% to 20%.
SOURCE: FORTUNE INDIA