Technology has grown over the past few decades, there has been great developments ranging from change of Printed Currency to Crypto Currency. We all have heard the term Cryptocurrency wherein it is all online, the transactions and the transfer is conducted online and the documentation of the transactions are done on Block chain. This is the basic principle of Cryptocurrency.
This technology has improved the lives of all and enhanced mankind to develop wonderful technologies together. Currently, there is a new trading method reaching the public. It is NFT – Non Fungible Token, here the traded objects have a special or unique value making it Non Fungible, and as it is online it is a Token.
NFT has been used by many people in the world, people have traded GIFs, Videos, Song Performances and more. Indian Cine World has also taken the plunge into NFT.
-Amitabh Bachchan – A few collectibles of work and “Madhushala” a poem of the superstars father, recited by Mr. Amitabh Bachchan.
-Salman Khan – In October, the great actor joined hands with Bollywood NFT Workplace. His presence sold upto 1 Million Tokens in the first 3 hours.
NFT has as well ventured into the film collectibles space, wherein recent releases such as 83, a Bollywood film, and Kurup, a Mollywood film, have released their collectibles, like posters, videos and more online in the NFT marketplace.
NFT has also propagated down south into Tamil Cinema. Where the Veteran actor “Ulaga Nayagan” Kamal Hassan, has partnered with an online collectibles platform to launch his posters, movies and even an avatar of himself. This will be available worldwide, which has come as a great happy moment to cherish for the fans of the actor.
Oracle Movies – India’s First Film Rights NFT Marketplace is all set for its launch and has already partnered with 25+ films in 2021.
Many more films are in discussion phase. The launch of the website is scheduled for Pongal, post which the ownership of NFTs in Tamil cinema will be more easy and the collectibles will be more accessible.
Film fraternity is very exited with the new marketplace taking the form and hence they are all waiting for the website launch. With this launch comes the great opportunities.
The Idea is to take Indian Films across many countries to benefit the producer and creators leveraging NFT space.
Keep watching this space for further more information.
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