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<ul><li><keyword id="247533" type="PERSON" weightage="20" keywordseo="Karthik-Srinivasan">Karthik Srinivasan</keyword>, Independent Brand Consultant and Social Media Expert <a href="https://beastoftraal.com/2020/10/13/tanishqs-ekatvam-the-oneness-broken/" data-type="tilCustomLink">writes</a> why Tanishq's ad has been withdrawn. </li><li>He traces some of the old Hindu-Muslim ads that have been trolled in the past for assorted reasons or have been withdrawn, too. </li></ul>Have you seen the new Tanishq Ekatvam ad film titled ‘Confluence’? No? You cannot, anymore. Because Tanishq has officially succumbed to the online trolls and removed the video from all their platforms. Watch a copy of the ad, here: <div type="twitter" handle="ShashiTharoor" handlename="Shashi Tharoor" image="http://pbs.twimg.com/profile_images/1280501371431800833/aoWxPcWK_normal.jpg" favoritecount="11107" retweetcount="2267" status="So Hindutva bigots have called for a boycott of ⁦@TanishqJewelry⁩ for highlighting Hindu-Muslim unity through this… https://t.co/V9IiFtEmgU" createdat="1602554129000" id="1315833504253374464"></div>They started with comments enabled and Likes/Dislikes allowed. Then they disabled both. Finally, they have removed the video. Why? The kind of comments they are getting for the same video on Facebook would offer you a reason. Here’s a snapshot. There’s a lot more on Twitter that’s hundred times more vile and vicious, including naming and abusing specific employees of Tanishq. <div type="image" title="tanishq-ekatvam-FB-comments-1536x690" msid="78633618" hostid="261"></div> To be honest, I was very, very surprised that someone at Tanishq and their ad agency considered this script, passed it for production, and were bold enough to release it now. That this needs to be called ‘bold’, in itself, is an odd situation to be in. We had a time when a Milind Soman and Madhu Sapre wore nothing but a snake to sell shoes and we used to call that ‘bold’. Within days of its release, the ad has found virulent denouncement. And boycott calls too. So what exactly is the problem in the ad according to the detractors? It supposedly normalizes “Love Jihad”, a term that has been categorically stated in the Parliament as a non-existent concept by the ruling party’s own <a href="https://bit.ly/3nFWXwY" target="_blank">junior home minister G Kishan Reddy in February 2020</a> (much like there is no record, meaning, explanation or context for ‘tukde tukde gang’, a term used to defame anyone not fitting a particular narrative). <div type="image" title="no-love-jihad-parliament" msid="78633628" hostid="261"></div> Not all inter-faith marriages deserve to be called out derogatorily or sweepingly denounced or dismissed. Does the ad claim that this is representative of all of India? No. Does the ad showcase violence between people? No. Does it show that people live in harmony, beyond their religion? Yes. Is this kind of harmony impossible? No. Is this kind of harmony needed? Of course. So, what’s the problem then? The problem is supposed to be that since gullible Hindu women (who, under the ‘Love Jihad’ conspiracy theory, have no agency of their own and are mere puppets that can be led anywhere) are being lured by rabid men from Islam/other religions, according to the theory of “Love Jihad”, this ad shows the opposite – that a Hindu woman is living peacefully with her Muslim husband and family, who are arranging an extensive Hindu-style VaLai Kaappu ceremony (Godh Bharai/Indian-style baby shower) for her. Is the man shown in the ad violent and abusive? No. Is the family ill-treating their daughter-in-law? No. Is this scenario impossible? Hardly. I have at least 3 friends with the same set-up – Hindu wife-Muslim husband. They are living as normally as anyone else. They celebrate both festivals with equal fervor. So, can’t the ad showcase what-could-be? Of course, it can. That’s what advertising does anyway – showing the what-is-possible scenario. And this is not necessarily a make-believe world – it is what it is, at least when I look at my own friends. The what-could-be is usually based on insights on user behavior, with the usual advertising-led exaggeration layered in. Are there exceptions to what’s being shown? Absolutely, there could be. Do exceptions become the norm? Not at all. They are not, and shouldn’t. The other major gripe with the ad, as per angry comments is, “Why can’t they show the reverse? A Muslim wife and Hindu husband?”. Yeah, why not? But, <a href="https://bit.ly/closeup-2018">Closeup, the toothpaste brand, tried showing both, in 2 different ad films, in a 2018 campaign</a> (my post from 2018 has all the context, but the videos have been removed by Closeup). Both got trolled heavily and Closeup withdrew both! There’s no end to this trolling. <div type="image" title="closeup ad" msid="78633641" hostid="261"></div> <div type="image" title="closeup ad 1" msid="78633657" hostid="261"></div> So, I’m genuinely surprised that Tanishq and its agency actually passed this, knowing fully well the kind of reactions it may lead to. I’m fairly sure they do not live in a bubble to not know what kind of reactions to expect for this ad film. All they are showing is a happy, sane and peaceful coexistence of religions. But in a situation where there is a constant need to hold up a villain for people to be perpetually angry and fearful about, this ad becomes yet another easy target. Tanishq hasn’t done anything wrong, or haven’t shown anything to be ashamed of. So, it is sad that they had to succumb to the online trolling and withdraw their ad. <div type="twitter" handle="bysurbhigupta" handlename="Surbhi Gupta سربھی گپتا" image="http://pbs.twimg.com/profile_images/1191368606921084928/H8tGptdw_normal.jpg" favoritecount="10365" retweetcount="1846" status="&quot;I will not buy jewelry from #Tanishq&quot;&quot;Why beta?&quot;&quot;Because they show a loving Muslim family and how caring they ar… https://t.co/VnQpw6LbMM" createdat="1602497250000" id="1315594936771727361"></div> For context, here are a few other ads that tread this ground, between the 2 religions. Most of them have been trolled for assorted reasons and some of them have been withdrawn too. Surf Excel – Holi, February 2019 | Agency: Lowe Lintas Mumbai <div type="Youtube" id="Zq7mN8oi8ds" title="Surf Excel Holi 2019 | This Holi, let colours bring us together!" thumbUrl="https://i.ytimg.com/vi/Zq7mN8oi8ds/mqdefault.jpg"></div> Closeup Lost Loves: Naghma &amp; Arghadeep, November 2018 | Agency: Lowe Lintas and VICE Media <div type="Youtube" id="mfCMKVQRGQg" title="Closeup Lost Loves: Naghma &amp; Arghadeep #FreeToLove" thumbUrl="https://i.ytimg.com/vi/mfCMKVQRGQg/mqdefault.jpg"></div> Closeup Lost Loves: Adithi &amp; Umar, November 2018 | Agency: Lowe Lintas and VICE Media <div type="Youtube" id="yj9IJY_IY3I" title="Closeup Lost Loves: Adithi &amp; Umar #FreeToLove" thumbUrl="https://i.ytimg.com/vi/yj9IJY_IY3I/mqdefault.jpg"></div> Brooke Bond Red Label – Ganesha, September 2018 | Agency: Ogilvy <div type="Youtube" id="AWsTJvM7jG4" title="Brooke Bond Red Label Ad Film" thumbUrl="https://i.ytimg.com/vi/AWsTJvM7jG4/mqdefault.jpg"></div> Brooke Bond Red Label – Neighbours, April 2014 | Agency: Ogilvy <div type="Youtube" id="tQuddKFhfFA" title="Red Label New Ad -- Neighbours" thumbUrl="https://i.ytimg.com/vi/tQuddKFhfFA/mqdefault.jpg"></div> Kaun Banega Crorepati promo, July 2014 | Agency: Leo Burnett <div type="Youtube" id="xjRto40PKts" title="KBC launch promo 2014-Neighbours" thumbUrl="https://i.ytimg.com/vi/xjRto40PKts/mqdefault.jpg"></div> - By<a href="https://beastoftraal.com/2020/10/13/tanishqs-ekatvam-the-oneness-broken/" data-type="tilCustomLink"> Karthik Srinivasan</a>, Independent Brand Consultant and Social Media Expert

Tanishq pulls down its latest Hindu-Muslim Confluence ad, expert writes what exactly happened

The retention lists of all ten franchises for the <keyword id="6354831" type="General" weightage="20" keywordseo="Indian-Premier-League" source="Orion">Indian Premier League</keyword> (<keyword id="6354312" type="General" weightage="100" keywordseo="IPL" source="Orion">IPL</keyword>) season next year were finally unveiled on Thursday, with several big names like Jos Buttler, Aiden Markram, Glenn Maxwell, Faf Du Plessis, KL Rahul, Rishabh <keyword id="19900230" type="General" weightage="20" keywordseo="pant" source="keywords">Pant</keyword>, <keyword id="19904097" type="General" weightage="20" keywordseo="shreyas-iyer" source="keywords">Shreyas Iyer</keyword> etc being let go by their respective franchises. The surprising retentions and releases by all ten franchises have laid down the foundation for what could be an exciting, fun and record-breaking auction later this year. Let us look at several takeways from the auction: <h2>Several captaincy options available</h2> With the release of IPL winning skipper Shreyas Iyer from Kolkata Knight Riders (<keyword id="19924483" type="General" weightage="20" keywordseo="kkr" source="keywords">KKR</keyword>), Rishabh Pant from Delhi Capitals (DC) and KL Rahul from Lucknow Super Giants, three top-class Indian captaincy options are available. <h2>Auction could be defined by wicketkeepers pulling double/triple duties</h2>The announcement of retention lists have seen many wicketkeeping options being released by their respective franchises, including Pant (from DC), KL (from LSG), Ishan Kishan (from Mumbai Indians) and Jos Buttler (from Rajasthan Royals). With all of them having captaincy experience at various levels, including international <keyword id="1521" type="General" weightage="20" keywordseo="Cricket" source="Orion">cricket</keyword> in case of Pant, KL and Buttler, several teams could go after them. Their experience and strong records as wicketkeepers and top-order batters, particularly opening except for Pant, will help teams find a captain, wicketkeeper and an opener in just one player and save them plenty of money. <h2>No English players retained? Could withdrawing/not playing full season be a cause?</h2> No England players have been retained by franchises this team around. Various stars players like Jos Buttler, Liam Livingstone, Jonny Bairstow, Moeen Ali, Sam Curran, Harry Brook, Phil Salt, Will Jacks etc have been let go. These players missed out some part of their season due to international commitments, while Harry Brook pulled out due to personal reasons. England batter Jason Roy pulled out of IPL ahead of this season due to personal reasons. These all developments damaged the team balance at times, with several teams dependent on their overseas talent. Has the habit of not honouring contracts and missing matches caused this move? The hammer strikes at auction could answer this question. <h2>Caribbean power trusted ahead of mega auction</h2>Four of current top West Indies stars, Nicholas Pooran, Shimron Hetmyer, Andre <keyword id="20287010" type="General" weightage="20" keywordseo="russell" source="keywords">Russell</keyword> and Sunil Narine have been retained by their respective franchises. Pooran has dominated the T20 run charts this year, scoring a record-setting 2,251 runs in 68 matches with a century and 15 fifties at a strike rate of 160.90. Hetmyer is one of the best finishers in T20 circuit and Rajasthan Royals trusts in his abilities. Russell (222 runs in nine matches and 19 wickets) and Narine (488 runs and 17 wickets) have also been reaped rewards for their title winning performances last season and their loyalty to KKR brand. While seven West Indies talents have been released, namely, Shai Hope, Sherfane Rutherford, Kyle Mayers, Shamar Joseph, Romario Shepherd, Alzarri Joseph and Rovman Powell, the four modern-day T20 greats keeping their spots safe with the franchise shows how much trust franchise has in Caribbean power. And who knows, the released names could get brought using right-to-match card or find a new home at a higher price. <h2>Another setback for Ishan Kishan?</h2> Five-time champions Mumbai Indians (MI) placed their trust in Indian core, consisting of skipper Hardik Pandya, former captain Rohit Sharma, pacer Jasprit Bumrah, 360-degree hitter Suryakumar Yadav and young left-hander Tilak Varma. It was expected that Ishan could retain his place, given his youth and experience with the franchise. Aged just 26, he had spent seven seasons with the franchise and did reasonably well. However, after being brought for Rs 15.25 crores ahead of 2022 season, the price tag seemed to have caught up with Kishan. In next 44 matches for the franchise till the 2024-season-end, Kishan scored 1,192 runs in 43 innings at an average of 28.98, with just seven fifties. While these numbers are not bad, it could be debatable that he did not deliver as per expectations, with 19 scores being below 20. In the 2024 season, he could score just 320 runs at an average of just over 22, with just a fifty to his name. After being excluded from the Board of Control for Cricket in India (BCCI) central contract this year after not participating for red-ball cricket, this is another big setback for Kishan, who has not been considered for international cricket despite participating and doing well in red-ball tournaments like Buchi Babu Trophy, Duleep Trophy and Ranji Trophy recently. <h2>DC era 2.0 on cards?</h2> With wicketkeeper-batter and biggest superstar of the franchise, Pant released from the franchise and looking for a new franchise as per several media reports, Delhi Capitals could be moving to their 2.0 era, placing trust in young, under-the radar names like Axar Patel (235 runs with two fifties and 11 wickets in 2024), Tristan Stubbs (378 runs with three fifties and three wickets), Abhishek Porel (327 runs with two fifties) and Kuldeep Yadav (16 wickets at an average of 23.25) after good performances last year. Franchise has also released big time stars like David Warner, Mitchell Marsh, Anrich Nortje, Prithvi Shaw. Could this be the start of a new era for DC? Only time will tell. <h2>Shreyas Iyer joins unfortunate list of captains</h2>The IPL winning captain Shreyas Iyer has been let go after winning the title for his franchise KKR this year, their first in a decade and overall third. While many argue his batting stats of 351 runs in 14 innings with two fifties at a strike rate of 146.86 could be a reason behind his release, the other half of the story is that the in-form KKR top-order did not leave the middle-order with much to do. His recurring fitness issues, which caused him to miss 2023 season, also could be a reason. Irrespective of what the reason could be, one thing is for sure, Iyer is up there with likes of Adam Gilchrist (released by Deccan Chargers in 2011 after title win in 2009, semifinal finish in 2010), David Warner (released by Sunrisers Hyderabad ahead of 2022 season despite 2016 title win and multiple playoff finishes) as one of the most unluckiest captains in IPL. <h2>Strong faith in Indian uncapped/inexperienced stars</h2>The franchises have been extremely bold this time around, opting to release experienced, household Indian/overseas names and placing their trust in several Indian uncapped/inexperienced players. Out of a total of 46 players retained across all franchises, 36 players are Indian. Out of these, 10 players are uncapped Indians stars. These players are Abhishek Porel, Rahul Tewatia, Shahrukh Khan, Ramandeep Singh, Harshit Rana, Mohsin Khan, Ayush Badoni, Shashank Singh, Prabhsimran Singh, Yash Dayal. Also, out of other 24 capped Indians, 13 players have played less than 30 international matches and eight have played 10 or less international games for India. Of these 24 uncapped players, no one has all format experience for India and only two have Test cricket experience, Dhruv Jurel and <keyword id="20022019" type="General" weightage="20" keywordseo="rajat-patidar" source="keywords">Rajat Patidar</keyword>. Notably, it is Jurel, who has just played international matches for India, who has received the biggest pay hike, going from Rs 20 lakh this season to Rs 14 crores next season. <h2>End of 'KGF' era for Royal Challengers Bengaluru?</h2> With stars like Faf and Maxwell released, it could spell the end of 'Kohli, Glenn, Faf' (KGF) era for <keyword id="20282652" type="General" weightage="20" keywordseo="rcb" source="keywords">RCB</keyword>, which lasted from 2022-24. During this phase, they all scored heavily for RCB. Despite a lull in 2022 season, Virat scored 1,721 runs in 45 matches and innings at an average of 44.12, with three centuries and 13 fifties. Skipper Faf also scored 1,636 runs in 45 innings at an average of 38.05, with a strike rate of 146.99 and 15 fifties to his name. Maxwell sits at the third spot with 1,266 runs at an average of 28.77 and a strike rate of over 159, with 12 half-centuries in 50 innings. The only player that came closer to the trio was Indian wicketkeeper-batter Dinesh Karthik, who made 796 runs in 44 matches and 42 innings at an average of 29.48, with three fifties. If RCB had Virat-AB de Villiers-Chris Gayle in 2010s, KGF dominated the RCB batting numbers in 2020s. When RCB starts rebuilding their side from scratch in the auction, they would have a huge task in hand of finding one or two highly popular, capable and consistent foreign stars to help Virat unleash the carnage in a "Play Bold" avatar. Also, with the Rajat Patidar being retained for 11 crores, RCB might have made it clear that he could be the next big Indian batter the franchise invests in. His exceptional spin abilities have made a lot of difference for the side. Ever since he was brought by the franchise in 2021 for Rs 20 lakh, Patidar has played 27 matches, scoring 799 runs at an average of 34.73 with a strike rate of 158.84 and having registered a century and seven fifties. A complete list of retained players is as follows: <ul><li>Chennai Super Kings: Ruturaj Gaikwad, Matheesha Pathirana, Shivam Dube, Ravindra Jadeja, MS Dhoni</li><li>Delhi Capitals: Axar Patel, Kuldeep Yadav, Tristan Stubbs, Abhishek Porel</li><li>Gujarat Titans: Rashid Khan, Shubman Gill, Sai Sudharsan, Rahul Tewatia, Shahrukh Khan</li><li>Kolkata Knight Riders: Rinku Singh, Varun Chakaravarthy, Sunil Narine, Andre Russell, Harshit Rana, Ramandeep Singh</li><li>Lucknow Super Giants: Nicholas Pooran, Ravi Bishnoi, Mayank Yadav, Mohsin Khan, Ayush Badoni</li><li>Mumbai Indians: Jasprit Bumrah, Suryakumar Yadav, Hardik Pandya, Rohit Sharma, Tilak Varma</li><li>Punjab Kings: Shashank Singh, Prabhsimran Singh</li><li>Rajasthan Royals: Sanju Samson, Yashaswi Jaiswal, Riyan Parag, Dhruv Jurel, Shimron Hetmyer, Sandeep Sharma</li><li>Royal Challengers Bengaluru: Virat Kohli, Rajat Patidar, Yash Dayal</li><li>Sunrisers Hyderabad: Pat Cummins, Abhishek Sharma, Nitish Kumar Reddy, Heinrich Klaasen, Travis Head.</li></ul>

From spotlight on uncapped stars to big releases, a look at key takeways from latest IPL retention lists

<ul class="summary-list"><li>Workers at an <keyword id="6354606" type="COMPANY" weightage="60" keywordseo="iPhone">iPhone</keyword> factory in <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword> rioted on Saturday after accusing management of witholding wages, according to videos posted online and local news reports.</li><li>Videos showed crowds of people smashing factory windows, burning flipped-over cars, and spraying fire extinguishers. </li><li>Employees demanded the payment pending for a few months and met the HR team on Saturday, Karthik Reddy, a district official, told <a href="https://indianexpress.com/article/cities/bangalore/angry-at-delayed-payments-employees-ransack-narsapura-plant-where-iphones-are-made-7102392/">Indian Express</a> late Saturday. </li></ul>Workers at an iPhone factory in India rioted on Saturday after accusing management of witholding wages, according to videos posted online and local news reports. The violence reportedly was at a plant run by Wistron Corporation, a Taiwan-based manufacturing company used by <keyword id="6354427" type="ORGANIZATION" weightage="60" keywordseo="apple">Apple</keyword> in the India. Videos showed crowds of people smashing factory windows, burning flipped-over cars, and spraying fire extinguishers. Apple and Wistron did not respond to a requests for comment on Sunday.The dispute in Narasapura, a suburb of Bengaluru, started as overnight workers left the factory early Saturday morning, according to <a href="https://timesofindia.indiatimes.com/city/bengaluru/violence-breaks-out-at-wistron-corps-iphone-manufacturing-plant-near-bengaluru/articleshow/79691511.cms">The Times of India</a>. Workers who had recently had their wages reduced - some by about a quarter - started discussing it on the factory floor overnight, the newspaper said.Some reportedly only received tiny fractions of the pay that had been promised. By morning, the discussion had turned violent."The employees demanded the payment pending for a few months and met the human resources department officials on Saturday. After this, a few employees attacked the office and damaged the office premises and furniture," Karthik Reddy, a district official, told <a href="https://indianexpress.com/article/cities/bangalore/angry-at-delayed-payments-employees-ransack-narsapura-plant-where-iphones-are-made-7102392/">Indian Express</a> late Saturday. About 2,000 employees were involved the in riots, according to <a href="https://www.indiatvnews.com/business/news-iphone-plant-wistron-karnataka-vandalised-employees-violence-salary-dues-apple-670932">India TV</a>. Reddy reportedly said the district planned to arrest workers caught on CCTV. The weekend violence caught the attention of C T Ravi, BJP National General Secretary I/C of the region, who called for an investigation by state officials. "It is unfortunate that Wistron manufacturing plant was violently attacked by agitating workers near Kolara. At a time when many companies are shifting base from China to India, such attacks give a bad name for the State," he said on Twitter.Wistron opened the plant earlier this year, hiring about 5,000 new employees, according to a June report in <a href="https://www.deccanherald.com/business/wistron-to-start-iphone-production-at-narasapura-soon-to-hire-5000-workers-867611.html.">The Deccon Herald</a>. India TV reported that the 43-acre factory will have 10,000 employees when it's fully staffed.

An iPhone factory in India has erupted in violence over a dispute about workers' pay

<ul><li>NFT transaction activity has <a href="https://go.chainalysis.com/rs/503-FAP-074/images/state-of-web3.pdf">declined</a> from $3.9 billion in February 2022 to less than $1 billion in March 2022.</li><li>Amitabh Bacchan’s BeyondLife.Club, Salman Khan’s Chill Bull NFTs and Vishal Malhotra’s NFT funded film Ilm made headlines in 2022.</li><li>Blue Chip celebrity NFTs are more viable for investment than star NFTs which provide a one-time use case.</li></ul>We have come a long way from when Bollywood actors seemed like the real stars, inaccessible and in a galaxy that was out of reach of the laity. Thanks to social media and digital technologies, we now may have a ‘problem of plenty’. With NFTs, blockchain-based digital collectibles, fans now have access to digital avatars of Bollywood celebrities and can even attend their film premieres. Last year, many Indian celebrities launched their NFTs or Non-Fungible-Tokens, a unique way of selling their art online. It could be a poem, a song, a movie dialogue or even a movie premiere. However, NFTs have seen a steep drop in interest <a href="https://trends.google.com/trends/explore?q=NFTs">since last year</a>. NFT transaction activity <a href="https://go.chainalysis.com/rs/503-FAP-074/images/state-of-web3.pdf">crashed</a> by three-quarters to less than $1 billion in March from $3.9 billion in February. How have Bollywood NFTs fared after this crash? Fiat vs crypto NFTs can be bought either with fiat money – regular money such as INR – or with cryptocurrency. NFTs that were bought using fiat money have been less affected by the market crash. For instance, Guardian Link, a platform which manages Amitabh Bachchan’s <keyword id="11050714" type="General" weightage="20" keywordseo="nft-platform" source="Orion">NFT platform</keyword> BeyondLife.Club was one of the first to offer NFTs in fiat money. Amitabh NFTs were sold for $1 million in 2021. “Over 12,000 NFTs were sold within 45 seconds of going live. Guardian Link also provides credibility checks for these celebrity NFTs so that they can neither be replicated nor sold anywhere else,” said Arjun Reddy, chief technology officer at Guardian Link. For NFTs that were bought via digital currencies, the story gets a little complicated. Utility &amp; engagement drive NFT value How well NFTs have fared is dependent on multiple factors – utility of NFTs, star power, star engagement and credibility of the platform. If the NFTs do not provide lasting use cases for customers, they are unlikely to be popular. ‘83’ – a film that starred Ranveer Singh – in January sold all its digital collectibles within an hour of launch on ‘Social Swag,’ a platform for customers to learn directly from celebrities and not an NFT platform. Actor Salman Khan released ‘Chill Bull NFT collection’ in July – based on his 2019 movie ‘Dabbang 3’ – through <a href="https://www.bollycoin.com">Bollycoin</a>, the star’s NFT platform. However the utilities of these NFTs remain nil with no reference to them on the official <a href="https://market.bollycoin.com/assets/0xF298fEA19b400F20c61194e95aEB2421B3C12796/102">website</a>. Business Insider had not heard back from Bollycoin at the time of publishing. “Art should always be backed by lasting utility. Often celebrities launch their NFTs and go radio silent. But if an NFT buyer wants to sell the NFT of a Bollywood digital avatar, would they be able to do so? They should have an active NFT community,” said Sandesh Suvarna, vice president, WazirX NFT marketplace. Vishal Malhotra, creator of Asia’s first NFT-funded film ‘Ilm,’ meaning knowledge; and also the first actor to launch his NFT in India, did just that. “Ilm-the world’s first NFT-funded film has been certified by the Censor Board of India. Even during the bear market, over 50% of the film NFT passes have been sold. The bear market allows NFTs to go mainstream, bringing down their price. A Sholay film NFT has classic value for a Bollywood fan and will always have incremental resale value,” Malhotra said. Fans who own the ‘Ilm’ NFT passes will have a lifetime access for all his future film premieres, Malhotra added. Of blue chips &amp; star power The ‘Blue Chip NFTs’ – those NFTs that have the backing of big names, venture capitalists and big organizations – would still make for good buys is the general consensus. <a href="https://www.rario.com">Rario</a>, a blue chip NFT platform has over 20,000 users worldwide. They have partnered with cricketers like Rishabh Pant, Ruturaj Gaikwad and Dinesh Karthik, and are backed by top global cricket leagues. “Esports is growing rapidly. Cricket fans want to be associated with their favourite players. At Rario, you can gain access to their tournaments, merchandise and even host your own virtual tournaments. We have partnered with world’s cricket mega celebrities,” said Ankit Wadhwa, CEO of Rario. The star power of a mega celebrity like Amitabh Bachchan, coupled with the backing of a well-known decentralised exchange like Guardian Link seems to be the winning combination for owning a lucrative NFT. Amitabh Bachchan’s NFT ‘<a href="https://marketplace.beyondlife.club/order/details/l4bwBKRxFnDm2DoP/9YEpmRnhnjymzQ87">BigB Punks #1633</a>’ that sold at $10 a piece last November, is currently priced at $1500/piece. Celebrity engagement One of the most important factors that determine the value and demand of celebrity NFTs is the extent of engagement by the celebrity. Dhruv Saxena, chief strategy officer of Singapore-based NFT celebrity platform <a href="https://www.fantico.io">Fantico</a>, deals with NFTs of Indian movie stars such as Kamal Hassan, Madhavan, and lyricist Javed Akhtar. He believes investor overlap between crypto and NFTs does exist, hence buyers are more cautious. “This is very typical after any ‘bull run’ days. Value can only be created by creators or their fans. While fans will continue to like whatever it is they do, creators (artists, influencers, actors, musicians, or athletes) will use this new medium to create more supply,” added Saxena.

Have Bollywood NFTs lost their glamour during the cryptocrash?

New Delhi, Feb 24 () Blume Ventures on Monday said it has completed the final close of its opportunity fund, titled Fund IIA, at USD 41 million. Fund IIA was raised in parallel to Blume's new USD 102 million-Fund III announced last week. "Blume Ventures completed the final close of its opportunity fund, titled Fund IIA, in December 2019. The final close was at USD 41 million, raised from both domestic and international investors," a statement said. Many of these are existing Blume investors, it added. While Fund III targets new emerging startups, Fund IIA will invest in follow-on rounds of winners of Funds I, IA and II, the statement said. Blume had marked the first close of Fund IIA at USD 22 million in second half of 2018, it added. As many Fund I and II companies began to breakout, there were two counter-intuitive trends that were playing out, Karthik Reddy, co-founder and Investment Team member at Blume Ventures, said. "We were playing a very active role in most of them even beyond Series B - on boards and leveraging the powerful Blume Platform Team, whereas we had little or zero reserves for any of these stars. Our LPs saw the rationale and sponsored our opportunity fund strategy," he added. SR ANU

Blume Ventures closes Fund IIA

New Delhi, Feb 19 () Homegrown early-stage venture capital firm, Blume Ventures on Wednesday announced the final close of Blume Ventures Fund III at USD 102 million (about Rs 730 crore). After a first close in late 2018, the final close was completed in December 2019, a statement said. Blume started in 2011 raising an entirely domestic Rs 100 crore fund from HNIs (high net-worth individuals) and subsequently raised a USD 60 million fund (Rs 400 crore) in 2016. It claimed that its the first entirely homegrown fund to raise a third fund and raise over USD 100 million in a single fund. "Blume's newest fund will continue to back early stage startups focusing on the two distinct opportunity sets that India offers, opportunities that leverage the mobile-led explosion of the Indian digital-first economy and Indian engineering and science translated to global market opportunities," it added. The fund III portfolio already includes more than 10 investments including HealthAssure (healthcare), Taaraka, Stage3 (consumer), Jai Kisan, TartanSense, Procol (agri), Classplus, Tapchief and LeverageEdu (edu-tech). Through Fund I and II, Blume had invested in companies like Unacademy, Grey Orange, Spinny, Turtlemint, Dunzo, Healthifyme, Purplle, Railyatri (IntrCity) and others. "We are very proud of our founders and team who have delivered outstanding performance over the last three years, thereby strengthening the Blume brand and track record immensely," Karthik Reddy, co-founder and managing partner at Blume Ventures said. SR SHWSHW

Blume Ventures announces final close of Fund III at $102 mn

New Delhi, Dec 31 () Sebi on Tuesday barred four individuals of Deccan Chronicle Holdings Ltd from the securities market for two years and imposed restrictions on an auditor as well as a company secretary for manipulation of the company's financials and disclosure lapses.
 Chairman T Venkattram Reddy, Vice Chairmen T Vinayak Ravi Reddy and Parasuraman Karthik Iyer, and Managing Director N Krishnan have been restrained from the market for two years.
 Mani Oommen, Partner at C B Mouli &amp; Associates, has been barred from rendering auditing services to any listed company for one year. Company secretary V Shankar has also been directed not to provide company secretarial services to any listed company for one year, Sebi said in an order.
 The regulator found that the company manipulated its financials and made announcement for buyback of shares even in the absence of adequate reserves.
 Liabilities of Rs 2,905.32 crore and interest and finance charges of Rs 753.91 crore were diverted from the books of the firm on the last date of every accounting year and were reintroduced to the books on the next day just to avoid disclosure of the same to the public, as per the 65-page order.
 The watchdog said there would be no proceedings against Deccan Chronicle Holdings Ltd -- the publisher of Deccan Chronicle and Asian Age newspapers, among others -- taking into consideration that Hyderabad bench of the National Company Law Tribunal (NCLT) has approved a resolution plan for the company, which was also compulsorily delisted from the BSE since August 2017.
 "...actions of the noticees are replete with glaring manipulations, fraudulent intents and exaggeration of accounts to the extent that it went on for a number of years with the connivance of the company secretary and auditors.
 "Such blatant and egregious misconduct on the part of the noticees is not conducive for the integrity of the securities market and cannot be spared to be viewed leniently, rather such misconduct of the noticees deserve to be dealt with strictly," Sebi Whole-Time Director S K Mohanty said in the order.
 The noticees are the individuals.
 During the financial year 2008-09, the firm understated its outstanding loans of Rs 1,339.17 crore. The differences between the actual and reported outstanding were Rs 2,982.07 crore and Rs 3,347.41 crore in 2009-10 and 2010-11, respectively.
 Additionally, the company made a buyback announcement at a price that was 234 per cent higher than the ongoing market price.
 The company and the individuals also concealed the series of encumbrances created on the promoters' shareholding in favour of financial institutions under the garb of non-disposal undertaking which were nothing but pledge agreements signed with these institutions and also failed to make such disclosures to shareholders, the order said.
 According to Sebi, the individuals blatantly made "specious" claims about the ownership of brands such as Deccan Chronicle and Andhra Bhoomi saying that these brands were owned by Deccan Chronicle Marketers (DCM) and not by the company. This was done only to accommodate their manipulative accounting adjustments and to waive financial obligations of Rs 2,905.32 crore which DCM owed to the company, it added.
 Sebi said the company, its directors and management in cahoots with its company secretary and auditor, have manipulated the accounts by understating the liabilities and expenditure over many years from 2005-06 onwards.
 "The attempt to buyback shares of the company by the directors and promoters based on the falsely reported reserves amount despite the company actually lacking the requisite free reserves was another attempt to hoodwink innocent investors and to sell the company's misplaced false story about its strong fiscal position to its shareholder/investors," it noted.
 The four individuals have also been prohibited from holding any managerial post or being associated directly or indirectly with any listed company that intends to raise money from the public, or any intermediary registered with Sebi for two years.
 "For a period of one year, listed companies and intermediaries registered with Sebi shall not engage the Noticee 6 (V Shankar) for company secretarial services, or engage any audit firm associated with Noticee 7 (Mani Oommen) in any capacity, for issuing any certificate with respect to compliance of statutory obligations which Sebi is competent to administer and enforce, under various laws," the order said. SRS RAM HRS

Deccan Chronicle case: Sebi bars 4 individuals from securities mkt

New Delhi, Jun 18 () Opening of the coal sector to private players will generate jobs, reduce dependence on fuel import, stimulate the economy and catalyse the country's path towards a USD 5-trillion economy, the industry said on Thursday. Prime Minister Narendra Modi launched the virtual auction process for 41 coal blocks for commercial mining, which is expected to garner Rs 33,000 crore of capital investment in the country over next 5-7 years. Industry body Ficci said that commercial mining will modernise the coal sector. "This landmark reform will unlock country's natural resources," Ficci President Sangita Reddy said. CII stated that the de-nationalisation of the coal sector will help in bringing new investment and advancement in technology. "It is a watershed moment in the history of the coal sector for India. The step reflects the GOI's firm commitment in moving towards AtmaNirbhar Bharat. It is also important to look at important aspects as quality of coal and coal prices at the outset so that the sector is streamlined in terms of policy and regulations to support India's vision," CII Director General Chandrajit Banerjee said in a statement. The auction of coal mines for commercial mining and relaxation of FDI in the coal sector will create a lot of interest for companies engaged in the coal mining and associated activities such as mine developer and operator (MDO) sectors, Arvind Sharma, Partner, Shardul Amarchand Mangaldas &amp; Co said. The timing of launch of the commercial mining is critical since the reserves must be utilised to build the country before the focus shifts to entirely to renewable energy, he said. Stating that launch of auction process for commercial coal mining was a transformative reform in the energy sector, Cyril Amarchand Mangaldas Partner Ramanuj Kumar pointed out that environmental concerns and delays are likely to result in muted interest from international investors. "We expect strong interest from domestic mining and power companies since bid terms are attractive as compared to other mineral auctions," Kumar said. Tata Sons Chairman N Chandrasekaran was of the view that with reforms like this, the mining sector can easily contribute 5 per cent to India's GDP. Commercial mining will be a very successful initiative and it will generate huge amount of growth, significantly reduce imports and create lots of jobs, he said. Vedanta Chairman Anil Agarwal also said that commercial mining will create infrastructure and people in the backward region will get employment. "The bold decision taken by the Prime Minister to open up coal sector will result in massive job creation and generate a lot of revenue as we can replace coal import worth Rs 80,000 crore every year," he said in a tweet. "This will also support the industry to bring down the cost. In these difficult times, it will be very useful for the growth of the country," he tweeted. The Council on Energy, Environment and Water (CEEW) said while India's coal demand is likely to increase in the next decade, the investment in green-field projects to expand production capacity must be examined more carefully. "Import dependence is not a bad thing, especially if it defers or removes investment needs into new mines in pristine environments in the country, CEEW Research Fellow Karthik Ganesan said. The government's attempt to promote coal-gasification is also puzzling, he said, adding that from a climate standpoint, it defeats India's efforts to rein in CO2 emissions. "Power generation and industrial applications that use syngas are 40 per cent - 80 per cent higher in CO2 emissions, as compared to those that use natural gas. Syngas is not cheap either. Data from the IEA suggests we might as well unlock deep-water gas instead of pursuing syngas, given the delivered price could be 4 – 6 USD/mmbtu higher than conventional gas. "Also, while the use of syngas reduces air pollution outcomes, as compared to burning coal, it comes with a significant risk of polluting underground water resources with phenols and aromatic compounds that are generated in-situ and that could migrate out of the generation wells," Ganesan said. In this auction process, 41 coal mines are on offer which includes fully explored and partially explored mines. These include 4 coking coal mines which are fully explored mines. These coal mines are located in states of Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra and Odisha. The auction process will be a two-stage tender process with technical and financial bidding. SID NAM MR

'Commercial coal mining to stimulate economy; catalyse path toward USD 5 trn economy'

Ed-tech startup <keyword id="6630114" type="UNKNOWN" weightage="20" keywordseo="Unacademy">Unacademy</keyword> raised $1 million in the latest funding round and was backed by Flipkart's <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>, Binny Bansal, Paytm's <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, and FreeCharge's <keyword id="192201" type="PERSON" weightage="20" keywordseo="Kunal-Shah">Kunal Shah</keyword>. 
 The funding round was led by <keyword id="592779" type="ORGANIZATION" weightage="20" keywordseo="Blume-Ventures">Blume Ventures</keyword>, Stanford Angels India, WaterBridge Ventures, Traxcn Labs and a clutch of other angels, including Sandeep Tandon and Ashish Tulsian. 
 
The existing investors of Unacademy including Taxi4Sure’s Aprameya Radhakrishnan, redBus’ Phanindra Sama, CommonFloor’s Sumit Jain and Vikas Malpani (both CommonFloor) also participated. 
 
Unacademy is an education-technology based startup that allows educators to create courses on the platform. 
 Puducherry <keyword id="3547504" type="UNKNOWN" weightage="20" keywordseo="lg-kiran-bedi">LG Kiran Bedi</keyword> is also an educator on the platform. 
 
"Within two months, the Unacademy Create app will be made available to all, so anyone across the world can create lessons in any language they like. After a thorough screening process, we will make the relevant lessons available on our platform that will be free for all to see," said Chief Executive Gaurav Munjal, who started Unacademy along with Roman Saini. 
 
To become an educator on Unacademy, you have to go through an interview process and the selection is based on their experience. 
 
Once selected, the educators create video courses of not more than 10 minutes on its platform, which are available to students for free. 
 
"In a short span of eight months, the founding team has proved that leveraging technology to empower its educators and students is a problem that can be solved effectively at scale," said Flipkart’s Sachin Bansal. 
 
The startup claims to have more than 300,000 students for over 2,400 online lessons and specialised courses through the platform. 
"The product is designed for both lightweight production and consumption-in that it's ingenious. This can change learning to an entirely different plane and kill a lot of ine ective institutional frameworks," said Karthik Reddy, Managing Partner, Blume Ventures. 
 
(Image: Thinkstock)

Unacademy just raised $1 million and these are the top Indian entrepreneurs that backed this ed-tech startup

<ul><li><keyword id="3275685" type="PERSON" weightage="20" keywordseo="dunzo">Dunzo</keyword> has grown 40X as a business and 8X in terms of number of people on its platform in the past 18 months.</li><li>While its present in eight cities currently, it aims to enter 20 cities in the long run because they believe that’s where 70% of the business comes from.</li><li>With half a million monthly transacting users and two million monthly transactions, <keyword id="5016554" type="PERSON" weightage="20" keywordseo="kabeer-biswas">Kabeer Biswas</keyword>, CEO, is certain they will touch 15-17 million monthly transactions by the end of next year.</li><li>Recently Dunzo raised $45 million in a fresh round from <keyword id="1058387" type="COMPANY" weightage="20" keywordseo="Lightbox">Lightbox</keyword>, <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword>, <keyword id="8178411" type="UNKNOWN" weightage="20" keywordseo="3L-Capital">3L Capital</keyword>, and <keyword id="8233231" type="UNKNOWN" weightage="20" keywordseo="stic-investment-stic-ventures">STIC Investment &amp; STIC Ventures</keyword>.</li></ul> It was in 2015, while working at another startup in Gurgaon that the idea for Dunzo first came to CEO Kabeer Biswas. The thought was simple – in a day and age when one can hail a cab by tapping a few times on your phone screen, why can’t the same be done for everything else? The thought primarily came to him because he was working for 15-16 hours everyday and did not want to waste his weekends on running errands. He ran the idea by a few friends in Bangalore, to get a validation on his idea, to get a sense of whether it was viable to run a <keyword id="3179264" type="PERSON" weightage="20" keywordseo="hyper-local-delivery">hyper-local delivery</keyword> organization, and whether there was any demand for it. He set up Dunzo on a Whatsapp group and asked three of his friends to simply text him the chores they needed to get done. While there wasn’t much to do intially, within four months, it blew up on Whatsapp, Biswas had close to 10,000 users, without spending any money on advertising about the platform. It all happened through word-of-mouth. This was also the time when Biswas was the only person managing everything. It was in 2016 that Karthik Reddy of Blume Ventures was in Bangalore and he heard about Dunzo from the wives of his friends. Curious to know more about the venture, he got in touch with Biswas and that’s how Dunzo raised its first capital. The most part of 2016 was spent in building a team and putting up the product on the store. By 2017, Biswas was clear about the business model, Dunzo would largely do three things for its consumers, the business would be about collecting requests from consumers, the platform would help them place those requests seamlessly, would manage payments and then figure out who the correct person on ground is to manage the request. It was 2018 when Dunzo came under the spotlight, thanks to a $12.5 million funding from Google, its first direct investment in India. Since then, in the words of Biswas, ‘Things have been insane.’ He shares that while 2018 was all about building scale, 2019 has been all about managing that scale. What’s worked in favour of Dunzo so far While coming up with a business plan for Dunzo, Biswas says they were studying global players and seeing if they could find any parallel to what they wanted to achieve with their platform. The one platform that came closest to their offering was Indonesian unicorn Gojek, which is known to be a platform that delivers 'everything'. So what is it that Dunzo is trying to achieve? Biswas says, “We have been told globally that the number of times people use Dunzo in Indian cities is higher than what they have seen anywhere else in the world. The top 10% of our users use us 20 times a month. People are using us to largely deal with the local world around them. Someone told us, think of Dunzo as a browser on the top of the real world. It makes the real world a lot more convenient, exactly how the browser allows you to easily surf the internet. I believe by 2025, local search will no longer exist. It will most likely look like Dunzo, where you won’t want to search but tell the app about a shop and item and expect the app to get the work done for you. And the platform will take care of the payment and the logistics at the same time.” That the business model is working is clear from the fact that Dunzo has grown 40X as a business and 8X in terms of number of people on its platform in the past 18 months. Creating the 2.0 versions of on-demand services platforms Swiggy recently expanded its offering and launched Swiggy Go, an instant pick up and drop service to send packages anywhere across the city, a direct competition for Dunzo. While currently its offering the service only in Bengaluru, its plans are to expand to 300 cities by 2020. However, Biswas is unfazed and hardly looks at Swiggy’s offering as a threat. “Today there are two types of businesses, the 1.0 and the 2.0 businesses. Swiggy looks very much like the 1.0 businesses which went behind scale and built out a massive platform but the utilization ratios don’t work out. Globally, everybody who is a part of a 1.0 business has had to pivot to 2.0. For me, this is, if anything, a pivot at Swiggy, where just delivering food wasn’t good enough to make money. This is not only about Swiggy, but about every 1.0 business out there. They have to figure out the 2.0 version of them. Our utilization numbers are atleast 50-60% higher than any of the other 1.0 businesses.” Dunzo is also clear that they want to enter limited markets, and want to cover those markets extensively. “We believe that 20 cities account for almost 70% business in the country today. Our idea is to enter the top 20 cities in India and enter them deeply. We want to make sure that we are the largest local commerce player in these 20 cities. So we are very happy that Swiggy launched. Now that they have launched, we are still growing, and growing even faster. The only thing I can say is thank you, its helps us raise funds,” add Biswas with a laugh. Dunzo might even think of crossing international borders, in the next two years, shares Biswas. Plans for the next few quarters Currently Dunzo has half a million monthly transacting users and two million monthly transactions. By the end of next year, they expect to have 15-17 million monthly transactions on their platform. To achieve that, the platform will focus on improving their user experience. Biswas explains, “We genuinely believe that if you focus on building a better consumer experience, it leads to a better and sustainable business model. We are not in this business to gain market share but to make sure that we’re able to return our investor’s capital at some point. Every company that raises money has to give the money back and it has to be a sustainable business. So our focus will be to constantly invest on improving our consumer experience.” Currently, an average order takes 28 minutes to get delivered and within the next six months, Biswas expects to bump this number up to 25 minutes. Till today, Dunzo hasn’t spent too much on marketing the platform and it plans to keep it the same way in the foreseeable future. “For every 100 users that join Dunzo, 35-40 % of them are organic in nature. Around 35% come on board through incentivized referral channels, 15% come from BTL and 10% through digital,” explains Biswas. So no plans of using TV? His answer is a firm ‘No’. “I have this concept of ‘funny money’. When you have funny money, you should market big. However, if you are an internet business, why aren’t people talking to each other about you? They are all connected on the internet, so why do you need TV, really? TV is good for when your organic growth is slowing down and we are far away from it. It’s a trillion transactions that ‘we are chasing, and we are at 2 million currently. We have a long way to go,” he adds.

Dunzo is aiming at achieving 17 million monthly transactions by the end of next year, with minimal marketing

The <a href="http://www.businessinsider.in/searchresult.cms?query=startup+">startup</a> culture is growing in India as high networth individuals (HNIs) have invested more than Rs 1,200 crore into <a href="http://www.businessinsider.in/searchresult.cms?query=venture+capital+">venture capital</a> funds focused on helping early-stage entrepreneurs. 
 These <keyword id="6362476" type="ORGANIZATION" weightage="60" keywordseo="investments">investments</keyword> have flowed in over the past year into these venture <a href="http://www.businessinsider.in/searchresult.cms?query=capital+funds+">capital funds</a> - <keyword id="2491409" type="ORGANIZATION" weightage="80" keywordseo="Orios-Venture-Partners">Orios Venture Partners</keyword>, Zodius Capital, Your-Nest Angel, Kalaari Capital and Blume Ventures - which have together raised Rs 4,360 crore, data shared by these funds with the Economic Times reveal. 
 
These funds have the mandate to invest in app-makers, <a href="http://www.businessinsider.in/searchresult.cms?query=radio+taxi+">radio taxi</a> companies, food-ordering platforms and <a href="http://www.businessinsider.in/searchresult.cms?query=healthcare+">healthcare</a> aggregators and such Internet businesses and other <keyword id="6362513" type="ORGANIZATION" weightage="100" keywordseo="Startups">startups</keyword>. In some funds, over 50% of the corpus raised has come in from high networth individuals. 
 The trend to invest in startups started with top executives and businessmen. "People who are exposed to various asset classes have now begun seeing value in venture funds," says <keyword id="1768757" type="PERSON" weightage="60" keywordseo="Sunil-Goyal">Sunil Goyal</keyword>, CEO of YourNest Angel Fund. 
 
He said: “Even traditionally wealthy investors are warming up to the idea of investing in startup funds." 
 
These numbers are in line with an ET CXO poll on startup investing published on Monday. Over 60% of the 100-plus CXOs polled by ET said they had already invested a portion of their wealth in startups. Another 25% expressed interest in such investments in the future. 
 
· Low awareness level "The HNI response to startup funds has been pretty good, but awareness level is still low," says Rehan Yar Khan, founder-partner at Orios Venture Partners. These funds, Khan says, are not yet as popular as <keyword id="6354553" type="COMPANY" weightage="80" keywordseo="real-estate">real estate</keyword> or equity funds. 
Orios Venture mobilised close to Rs 150 crore from HNIs in its earlier fund, which closed in August 2014. It is now raising Rs 1,200-crore fund and expects to get Rs 300 crore from rich Indian investors. 
Zodius Capital recently raised over 45% of its Rs 700-crore fund from rich domestic investors. 
 
· Ticket sizes have grown 
Individual ticket sizes have also grown over the past few months with average investment ticket sizes of Rs 10-20 crore. Wealth managers seek larger investments as these funds have a high failure rate. A portfolio of 20 companies may only have 3-4 multi-baggers (yielding returns of over 50 times), the rest being average performers and many turning plain duds. 
 
Wealth managers say funds will have to generate gross returns in excess of 20 per cent to make a meaningful case. "We'll have to wait and see how the first batch of funds delivers in terms of returns. Vintage funds in this segment will set the tone for future investments in startups," said Karthik Reddy, managing partner at Blume Ventures. 
 
 (Image: Indiatimes)

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