The first-ever NFT of a Bollywood movie is set to be introduced soon. US-headquartered Superstar Xchange, in collaboration with Tezos India and TZ APAC, is all set to launch the NFT ahead of the theatrical release of Hindi Film ‘Jhund’ starring Amitabh Bachchan and directed by Nagraj Manjule.
Superstar Xchange is an upcoming NFT marketplace co-founded by Andrew Sternlight and Savita Raj Hiremath. It is a platform dedicated to publishing NFTs on Indian film industry and plans to expand into other parts of the Asian film markets in the near future. The platform has been built and developed on top of the Tezos blockchain.
In a statement, Superstar Xchange said it is on a mission to help movie fans and enthusiasts own a piece of their favourite movies. For the upcoming Bollywood movie ‘Jhund’, it will be dropping two NFTs representing two unique posters from this movie on 3rd and 4th March 2022 respectively. The NFT drops will happen on Superstar Xchange’s official website on both the days at 5 PM IST.
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Each of the buyers of these two NFTs will own a piece of the movie via unique and exclusive movie posters, and these NFTs can then be traded in the secondary market and/or also be “flexed” on social media platforms, the statement said.
Commenting on the announcement, Savita Raj Hiremath, founder, Superstar Xchange, and a veteran Indian film producer, said, “Given that film NFTs range from old to new films, both innovation and creativity are critical for this domain; and furthermore the concept and uniqueness of a digital asset make NFTs stand out as an art form.”
“This is a great investment opportunity for the collectors and buyers who appreciate art in all forms, as well as for the fans to have a collective of their favourite films. The USP and challenge for Superstar Xchange platform is to maintain the balance between both business and art, and we are certain that we will be able to succeed in doing that while reaching new heights and making us stand apart from the rest in the NFT space,” she added.
Superstar Xchange is a platform designed to publish film memorabilia from the Indian Film Industry, and has already acquired the rights to many Indian films and plans to have their respective assets as NFTs on their platform.
Andrew Sternlight, Co-Founder, Superstar Xchange said, “From an investment perspective, we expect our new creative digital asset class to offer its collectors strong, diversified returns.”
Om Malviya, President, Tezos India said, “We are delighted and proud to join hands as a supporting partner with Superstar Xchange for the ‘Jhund’ NFT project. We truly believe that green NFTs with low carbon footprint are the future, and Tezos is the leader in this space. Being the leading force in terms of promoting the Tezos ecosystem in India, we at Tezos India foresee a huge potential for Tezos-based NFTs in the Indian film industry in the years to come.”