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<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?

Play-to-earn games gaining rapid popularity across South Asia <ul><li>The <keyword id="2440542" type="General" weightage="20" keywordseo="esports" source="Orion">Esports</keyword> gaming market in India is expected to reach a valuation of $5.7 billion by 2025. </li><li>GuardianLink with gaming partner IndiGG will initially have over 65k users. </li><li>Players have spent $4.9 billion on <keyword id="4668945" type="General" weightage="80" keywordseo="nft" source="Orion">NFT</keyword> games last year. </li><li>Asian leads the adoption of <keyword id="12497705" type="General" weightage="50" keywordseo="metamask" source="Orion">Metamask</keyword>, a <keyword id="7387190" type="General" weightage="20" keywordseo="Cryptocurrency-wallet" source="Orion">cryptocurrency wallet</keyword> used for many Web 3 apps and online gaming.</li><li></li></ul>GuardianLink, has joined forces with gaming hub IndiGG, the Sub-DAO of Yield Guild Games (YGG), to build and promote the Web3 gaming ecosystem in South Asia. Guardian Link has famously been associated with supporting artists like Stan Lee and Amitabh Bacchan by managing their NFT sales. GuardianLink, together with gaming partner IndiGG and its user base of 65,000 online gamers, is on a mission to help gamers monetize their virtual gaming skills. IndiGG has made a significant investment in purchasing NFTs from GuardianLink and will lease them out to its community members to encourage them to play the NFT cricket game, win matches, and stand a chance to earn exciting rewards. "Like <keyword id="14555695" type="General" weightage="20" keywordseo="Youtube-streamers" source="Orion">YouTube streamers</keyword> or TikTok/Instagram influencers, <keyword id="6355684" type="General" weightage="20" keywordseo="blockchain" source="Orion">blockchain</keyword> gaming has all the potential to become a dependable source of earning in the gig-economy era, if not for a full-time career. We strongly believe that NFT has the power to revolutionize the online gaming ecosystem in Asia," said Kameshwaran Elangovan, co-founder and COO of GuardianLink. Kameshwaran also adds, "Cricket is a religion in India, and even though Web2 games lack adoption for the sports genre, I believe Web3 cricket games would attract a lot of non-gamers in India as well. MCL is becoming one of the most popular live online cricket games thanks to its sustainable earnings potential," says Ayush Gupta, growth leader at IndiGG. Play-to-Earn games (P2E) have especially become popular post-pandemic. According to market tracker <a href="https://dappradar.com/blog/2021-dapp-industry-report">DappRadar</a>, gamers spent $$4.5 billion on NFTs last year. The amount one earns depends on the value of the game token which can be in the form of a cryptocurrency made on a blockchain. These blockchain games also provided a respite during the pandemic, where countries like Philippines and Thailand saw millions of users signing up for NFT game Axie Infinity due to rising unemployment. $500 in two hours Asian countries also lead the adoption of Metamask, a cryptocurrency wallet that is used during NFT online gaming. Vietnam, Thailand, India, China, Philippines and Indonesia occupy the <a href="https://consensys.net/blog/press-release/metamask-surpasses-10-million-maus-making-it-the-worlds-leading-non-custodial-crypto-wallet/">top 10</a>. According to a report by <a href="https://www.pwc.com/gx/en/industries/entertainment-media/outlook/downloads/pdf-global-gemo_take-a-tour.pdf">PWC</a>, global virtual gaming alone is projected to grow at 27.81% annually. Since the Indian subcontinent is a cricket fanatic, GuardianLink has also launched a first-of-its-kind NFT-powered play-and-earn cricket gaming app, <keyword id="13701309" type="General" weightage="50" keywordseo="meta-cricket-league" source="Orion">Meta Cricket League</keyword> (MCL), through its latest blockchain marketplace, 'Jump.trade'. MCL allows online game lovers to earn rewards worth $500 dollars in two hours. The esports gaming market in India is predicted to grow to be one of the largest in the world. A <a href="https://assets.kpmg/content/dam/kpmg/in/pdf/2021/06/digital-mobile-casual-gaming-in-india.pdf">KPMG study</a> claims that after five years of steady growth, it is anticipated to triple in value and reach from $1.7 billion in 2021 to $5.7 billion by 2025. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/how-to-find-the-best-smart-projector-for-your-home-a-buying-guide-by-expert/articleshow/93112644.cms">How to find the best smart projector for your home — a buying guide by expert</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/after-food-healthcare-expenses-are-becoming-a-bitter-pill-to-swallow-for-indian-consumers/articleshow/93115725.cms">After food, healthcare expenses are becoming a bitter pill to swallow for Indian consumers</a>

‘Blockchain gamers have the same potential as YouTube streamers, TikTok/Instagram influencers’

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Have Bollywood NFTs lost their glamour during the cryptocrash?

Eetika Kapoor

‘Blockchain gamers have the same potential as YouTube streamers, TikTok/Instagram influencers’

Eetika Kapoor

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