Veteran Bollywood actor Amitabh Bachchan’s experiment with non-fungible tokens is proving wildly lucrative.
On the first day of Bachchan’s auction, which started on November 1 and ends on November 4, his NFT collections have amassed bids upwards of $520,000. Of this, the Madhushala collection – his late father’s poem collection recorded in the superstar’s own voice – has received bids amounting to $420,000.
Harivansh Rai Bachchan was an early 20th-century writer widely considered a pioneer of Hindi romantic poetry and Madhushala is his best-known collection comprising of 135 four-line verses.
The rest of the bids came for autographed posters and other collectibles.
“NFTs have opened the doors to a new realm of connectivity and an opportunity to engage with my fans in a new way,” Bachchan said in a press release. “The NFTs will offer the audience a chance to own an original piece of rare and cherished moments of my life including stories from my films, recitation from Madhushala, some back stories, and moments from my films and these moments remain with them forever.”
NFTs are unique digital assets whose ownership can be tracked on blockchain, an immutable digital ledger. This system allows them to mimic the scarcity of real-world art, driving up their value.
BeyondLife.club, the website hosting Bachchan’s NFT auction clocked over 60…