The ‘Jhund’ movie NFT and what makes it so special.
Jhund is an Indian biographical sports film starring Amitabh Bachchan in the male lead. Whereas there are many non-fungible tokens by Amitabh Bachchan that are already available in the market, what makes this movie unique is that it will set a new achievement in the Hindi cinema by being the first of its kind.
Soon, the first-ever NFT for a Bollywood film will be released. The NFT will be launched by Superstar Xchange, in cooperation with Tezos India and TZ APAC, ahead of the theatrical premiere of the Hindi film ‘Jhund,’ directed by Nagraj Manjule and starring Amitabh Bachchan.
On the 3rd and 4th of March 2022, the platform will release two NFTs, each symbolizing a different poster from the film.
About Superstar Xchange.
Andrew Sternlight and Savita Raj Hiremath co-founded Superstar Xchange, a new NFT marketplace. It’s a website dedicated to publishing nonfiction films about the Indian film industry, with aspirations to soon expand into other Asian film industries. The Tezos blockchain was used to build and develop the platform.
Savita Raj Hiremath, prominent director and producer in the Bollywood industry, stated that “Given that film NFTs range from old to new films, both innovation and creativity are critical for this domain; furthermore, the concept and uniqueness of a digital asset make NFTs stand out as an art form.”
Superstar Xchange is headquartered in the US and will launch the Bollywood industry’s first NFT.
Paresh Maity joins the NFT bandwagon, with his collection set to be auctioned on March 4th.
The winner of India’s fourth-highest civilian award, the Padma Shri, acclaimed artist Paresh Maity is set to explore the world of metaverse on Friday, 4th March 2022. The day will observe five of his paintings will be put up for auction in the WazirX NFT marketplace.
The painter has previously claimed that “It is very important to have public art.” Maybe this is an extension of what he said. He comments on his move by saying that “By going digital, (I) can reach out to an entirely brand new segment of art lovers and collectors worldwide. That audience may not be aware of traditional auctions and how art gets sold in the conventional sense.”
About the NFT collection:
There will be a total of 5 NFT sets that will be auctioned. They are divided into two categories. The first one is NFT+Tangible artworks, while the other category will only have the NFTs.
Three of the five assets will be physical artworks with non-fungible tokens (NFTs), while the other two will only be digital assets. The NFTs plus actual paintings cost USD 110,000 (about Rs 85 lakhs); however, the NFT alone costs USD 5,000. (around Rs 4 lakhs).
The precious and rare NFT collection will be auctioned on WazirX NFT Marketplace by Kolkata-based Gallery Art Exposure. With WazirX, the creator receives 95% of the money when the collector collects the NFTs, with the remaining 5% going to the platform as transaction costs.
The seven-foot oil on canvas “Wedding Bell” (2013), 72-inch “A Morning” (2006), and 7.5 x 4.5 feet “The Perpetual Galore” (2021) — all oil and acrylic on canvas — are the three physical paintings and NFTs up for auction. The auction will unveil the other two works later, exclusively available as NFTs.