Indian movie producers, actors and singers are cashing in on the NFT buzz. In a latest auction, NFT of sports movie 83 was sold for Rs 10 lakh on marketplace Social Swag.
NFTs for 83 have been minted on the Polygon blockchain platform. They include autographed physical cricket memorabilia, video moments, digital avatars, and unseen posters and images.
According to Social Swag, the new NFTs have generated much interest in tier-I and tier-II cities. “While we were expecting purchases mainly from metros, cities such as Jabalpur, Kanpur, Nagpur, Thiruvananthapuram, and Solapur, took the lead in accepting the buzzing culture of NFTs," said Atharva Sabnis, chief executive of NFT Labs, the technology partner of Social Swag.
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In November, the auction of Amitabh Bachchan’s NFT Collection by a platform called BeyondLife Club fetched $966,000.