Image: clockwise from top left: Pankaj Advani; Salim-Silaiman; Suvigya Sharma; Amitabh Bachchan
Focus on NFT – II
Part of our week long focus on Non Fungible Tokens
December 5 2021: NFT or Non Fungible Tokens have emerged as the hot new opportunity for celebrities to market memorabilia and other wares centered around their persona.
Well-known music composer siblings Salim Merchant and Sulaiman Merchant (Salim-Sulaiman fame) have formally signed an agreement with Colexion to launch their exclusive Non-Fungible Tokens (NFTs).
The musical duo is thrilled about their entry into the NFT space with Colexion. “This is one great opportunity to get closer to our fans with something we are passionate about — music. Those who love us will now get an opportunity to own the original music composed by us” said Salim Merchant.
Said Abhay Aggarwal, Founder & CEO of Colexion: “We are focusing on building a strong relationship between the artists and their fans by creating a value-added platform and digital infrastructure for digital token trade. We are also ensuring a transparent ecosystem that makes us stand apart and that we become the first choice of celebrities across the world,” said
Colexion envisions building a robust ecosystem backed by innovation and technology whereby the company would launch unique digital tokens of the world’s renowned celebrities in areas of sport, cricket, arts, and entertainment. The company is thus creating waves in the Non-Fungible Token (NFT) space across the world and more specifically in Asia.
Colexion is the first company in the world which is making a Virtual NFT museum for celebrities. This museum can be accessed by fans and all the arts in the museum can be bought as an NFT. Fans can also interact with each other in real-time via virtual reality technology.
On the cue
India's most consistent sportspersonâ€‹ Pankaj Advani is among the latest to sign an agreement with Colexion. Advani who has 24 World Championship titles to his name is much excited about his new partnership with Colexion. “I have been playing since a very young age. This will be a new thing for me to engage with. Decentralised technology is the future and I am ready to play in this new digital playground.” Founder and Chief Executive Officer (CEO) of Colexion Abhay Aggarwal said, “Mr. Advani is an evergreen achiever. In the NFT space too, he will triumph. His fans should get ready to welcome him on the space.”
Colexion has already roped in more than a hundred celebrities including cricketers, actors from the film industry, and artists from other domains. New Zealand cricketer Brendon McCullum, Australian cricketer Glenn Maxwell, and West Indies Kieron Pollard are among the celebrity sportsmen of international repute who have signed up with the company.
NFT in miniatures
Renowned to be a trendsetter, artist Suvigya Sharma unveils his first collection of NFTs, called ‘Perishious’ at Kamalnayan Bajaj Art Gallery, Mumbai yesterday, showcasing realistic miniatures in life sizes with royal palatial backgrounds in 3d hyper realism. The artist launched 11 NFTs of artworks- a series of perishing animals including lions, tigers, leopards, flamingos, polar bears amidst royal backgrounds in 3D, dedicating the collection to globally perishing animals, as the artist also nurtures and restores the traditional art form of miniature painting. The gallery also dazzled with a collection of 153 artworks of ‘Enticing Pichwais’, representing the 2000 year old art form incorporated in Refined Tanjore's, Pichwai's & Miniature Paintings.
The Enticing Pichwai’s collection brings to the fore, artworks of Shrinathji's contemporary Pichwai along with a 3 dimensional Govardhan Parvat - a celebratory reminiscence depicting the supernatural act of Lord Krishna's 8th avatar of Lord Vishnu, lifting the Govardhan Parvat for 7 days and nights. The depiction of Pichwai has been made on ‘Elfh’, a patented mineral based composition which is a great substitute for Elephant Tusk or Ivory and each art piece has been painted using vegetable dyes and gilded with 24 carat gold; a technique is meticulously practiced under a magnifying glass; has been curated over a course of 8 years.
“I am really thrilled to be setting foot in the NFT space with the Perishious collection. I personally feel that these endangered species of animals need protection and with my art I wish to send a reminder to the world”, says Suvigya Sharma. The artist plans to extend a part of the art sales to global animal welfare organizations.
What is an NFT?
An NFT is a digital asset that may be unique and can be bought and sold. NFTs are digital assets that can
represent objects like music, art, digital avatars or images, videos, or any other collectible items.
The word “non-fungible” means one of a kind, which means that the asset cannot be duplicated and are
backed by block chain technology. Each NFT has a digital signature which makes it impossible to be
exactly replicated. The NFTs are sold online, frequently for crypto coins, and are encoded.
An NFT is considered a collector’s exclusive item existing in digital form.
They have been around since 2014 but have gained popularity only now.
Record prices for Amitabh Bachchan NFTs
Beyondlife.club, India’s first curated talent & athlete NFT exchange platform recently revealed 2021’s most awaited NFT auction featuring Amitabh Bachchan. Within 24 hours, the auction recorded massive traction with millions joining from across the world in an attempt to secure Amitabh Bachchan’s limited edition NFT.
Since the auction went live, Amitabh Bachchan’s Madhushala (Hindi) NFT surged by almost a whopping 1500% as compared to its base price & is currently being sold for a staggering 480K USD which is almost close to 3.57 Cr in INR. Amitabh Bachchan’s Madhushala (English) NFT also attracted enormous bids leading to an upswing of almost 820% as compared to its base price & is now being bided for 276K. Apart from Madhushala Amitabh Bachchan’s Signed Vintage ‘Sholay’ poster which was initially auctioned for the bidding price of 9.5K USD has also skyrocketed to 21.8K USD exhibiting a stellar growth of over 128%.
Says Arun Pandey, MD & Chairman, Rhiti Group and Co-founder, Beyondlife.club: “This has been an enthralling experience for us as we aspire to revolutionize India’s NFT landscape with many such collaborations in future. This is the testimony of the true crypto millennials who stand on the edge of this new realm of Rare Digital Arts”
One of the most eye-catching aspects of this auction, the “loot box” didn’t even last for an hour because of the overwhelming response from Big B’s aficionados. All 5000 loot boxes were sold out within a matter of 54 minutes. The platform beyondlife.club recorded a whacking six million visits in a matter of minutes as soon as the Loot Box was released.
The NFT collection is India’s first-ever NFT based on Guardian Link’s ANT.RIP NFT technology. It’s a real-time spyder technology that helps monitor your NFTs across the web for duplicates & rip-offs thereby, protecting the exclusive rights of the owner.