Amitabh Bachchan’s NFT collection gets close to $1M at auction

Megastar Amitabh Bachchan's NFT collections of 'Madhushala', autographed posters and collectables, have received $9,66,000 (about Rs 7.18 crore) in an auction organised by Beyondlife.Club.

In August, BeyondLife.club, a venture between Rhiti Entertainment and GuardianLink.io, had announced that Bachchan will roll out his NFT (non-fungible token) collection on the platform.

An NFT is a unit of data stored on a digital ledger called a blockchain that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio and other types of digital files.

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The most successful during the auction was the 'Madhushala' NFT collection — Amitabh Bachchan's father's poem — recorded in the superstar's own voice that crossed a total of $7,56,000 (about Rs 5.5 crore) worth of bids for the entire collection, a statement said.

The highest bidder for this NFT will avail a meet-and-greet session with Big B, it added.

Another highlight of the auction was The Loot Box NFT, wherein every buyer of the box received an assured art piece from the NFT collection.

About 5,000 items from The Loot Box NFT collection featuring art pieces, Big B Punks, and rare vintage posters were sold out for $10 each within 54 minutes (totally sold at $50,000), the statement said.

The iconic vintage posters NFT, featuring seven autographed posters, were sold at a final price of $94,052, while Big B Punks and NFT Arts collection was sold at a closure amount of $66,900, the statement added.

“In this world of digitisation, NFTs have opened a new realm of opportunities to engage with my fans even more than before. The successful auction of my NFTs, some of the most treasured and personal moments of my life and career were so well received and invested in by my supporters," Bachchan said.

"This indeed was a very proud moment for me and also paves way for my industry folks too to come on board and engage with their fans with this new age technology, he further said.

The auction, which opened on November 1 and ended on November 4, was hosted on BeyondLife.Club. It was powered by Guardian Link, one of India's biggest decentralised branded marketplaces for NFTs.

“At Guardian, this has been a jubilant and important week. Our first drop was with the legendary Amitabh Bachchan, through BeyondLife.Club. We powered the drop's artistic conceptualisation and curation, tech of the LaunchPad as well as the blockchain aspects of the 5,000 heterogenous NFTs," GuardianLink Co-founder and CEO Ramkumar Subramaniam said.

He added that the company is setting up launch schedules, partnering with international artists and brands to bring their NFTs the same kind of momentum as well as launching a range of utility for their collectors, including Metaverses and unlockable content.