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After Alexa, be ready to welcome Amitabh Bachchan-themed NFTs

A non-fungible token, or NFT, is a distinct, intangible unit of data in the form of images, videos, or anything else. What sets them apart is that they are unique and exclusive.

August 30, 2021 / 11:10 PM IST

“Alexa, introduce me to Amitji and his NFTs”

Megastar and Bollywood's eternal angry young man Amitabh Bachchan is all set to embrace the nascent world of NFTs (Non-fungible tokens) by launching limited, unique Amitabh Bachchan artworks as non-fungible tokens on BeyondLife.club, which will be developed by Rhiti Entertainment in collaboration with GuardianLink.io.

Notably, Bollywood’s Shehanshah is the first Indian film personality to have signed up for this project, which will mark the launch of this platform. 

Per Arun Pandey, Chairman and Managing Director of Rhiti Group, “Our biggest motivation behind this venture is to empower artists, celebs and athletes globally and, at the same time, help die-hard fans get their hands on the purest form of content,” he commented. 

Rhiti Group is a prominent brand in the world of sports marketing, films, entertainment, and talent management, representing well-known cricketing names like MS Dhoni, KL Rahul, Bhuvaneshwar Kumar, and more. The company also owns popular sports brands such as DR Cricket 7, Fit7, Inspired entertainment, Ranchi Rays, Chennaiyin FC, and SEVEN (by MS Dhoni. 

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The purest form of content

A  non-fungible token, or NFT,  is a distinct, intangible unit of data in the form of images, videos, or anything else. What sets them apart is that they are unique and exclusive. There might be multiple copies of a particular artwork floating around, but NFTs are certified original assets, asserting ownership and authenticity. 

Each picture, video, memorabilia in the form of NFT is truly and literally, one in a million! The marketplace for these digital art tokens surged to almost 2.5 billion dollars worth of sales in 2021 so far, as opposed to just 13.7 million dollars in the last half of 2020, per market data.

And Keyur Patel, Chairman of GuardianLink.io and Rhiti Entertainment, certainly sees merit and potential in this space. Per him, NFTs have rarity, uniqueness, and long-term value, present digitally and representative of real-world objects like music, art, videos, collectibles, and more.

Remarkably, the famous Silicon Valley investor, who helms Fuse Capital, a multimillion-dollar venture capital firm primarily investing in digital media, internet, technology, telecommunication, and communication sectors visualises a digital new-age trade, with the same concept extending to currency trading, which currently is majorly associated with cryptocurrency because it is built on the same blockchain platform.

“Now, for NFT to be big in this world, fiat (currency) will have to participate. Whether youngsters use fiat, which is different or not, but at the end of the day, fiat will be part of NFT; whether it takes two years or five years, that is to be seen. Even what we are doing in India is on fiat because we believe a majority of people own fiat and not crypto,” Patel signs off. 
Ira Puranik
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