Legendary Bollywood actor Mr. Amitabh Bachchan is going to launch his NFT Collection on a platform called BeyondLife.Club.
BeyondLife.club, a venture between Rhiti Entertainment and GuardianLink.io, which provides the security infrastructure. Arun Pandey, Chairman of the Rhiti Group, announced the launch on August 30, in a tweet.
He is the first Indian celebrity to have taken a plunge into the world of Cryptocurrencies through NFTs, as per the website. However, actor Vishal Malhotra holds that title for an actor while Musicians like Nucleya have already released their NFTs on homegrown platforms like WazirX.
What is NFT ?
An NFT (Non-Fungible Token) is a digital unique identifier. It is not “fungible”, which means nobody can duplicate it. Therefore, it is not interchangeable.
The unique identifier makes it possible to use an NFT as a certificate of authenticity.
NFTs are mostly used to trade Digital Assets and are stored on a blockchain.
When an NFT is sold, it is directly transferred from the seller’s wallet to that of the buyer. In return, the cryptocurrency to be paid is transferred from the buyer’s wallet to that of the seller. It is a peer-to-peer transaction without any intermediary.
Moreover, since blockchain is immutable and an open ledger, anybody can track and verify the authenticity of a digital asset.
The NFTs of Bachchan available for auction
Among the NFTs up for grabs are original posters, “Autographed” by Mr. Bachchan, highlighting the various milestones of his journey.
A recital by Mr. Amitabh Bachchan of Madhushala, a collection of poems written by his father, an iconic poet, Mr. Harivansh Rai Bachchan. Along with the recital, he will also be sharing anecdotes associated with these poems.
Buyers can also make requests to Mr. Bachchan for customized NFTs.
“Well now you can share it with Amitabhji! Let him know the of NFT you would like to recieve from him. It could be an audio~visual clip, a signed poster or even a meet and greet,” the website reads.
This is not the first time Mr. Bachchan has collaborated with a blockchain project. In 2015 he had invested $250k in a Singapore-based blockchain startup called Meridian Tech Pte.
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Cover Photo Source: Flickr