Globally Celebrities are in the race to monetise their collectables through NFT. NFT’s are emerging as a new asset class.
Latest in the series is Amitabh Bachchan, who has launched his collection of NFT’s and according to reports have received very strong buying interest.
According to the beyondlife.club, the platform enabling the launch, the NFT’s will exhibit prized moments from superstar’s journey and consist of collection of poem recorded in actors voice, autographed posters and assured pieces of arts, which the buyer has to bid and the property will be airdropped in the wallet of the successful bidders.
Globally the valuation of NFTs is being questioned and its being feared that if it’s in the nature of bubble that is enlarging before the bust. The value is derived by its non-fungible nature, limited supply, reach of the distribution platform and buyers’ perception of the value it offers.
Impersonation of NFT is a big problem. Fake NFT’s are being sold and investors are being duped by the con stores and players. One important thing that needs attention before investing is that whether investor is buying IPR related to its purchase or not, whether seller can sell more copies of the art at the future point of time or not.
However, what is the real value is more subjective. There have been cases where the prices start falling after purchase. The long-term sustenance and escalation of the price will depend on how much people will be willing to adopt and pay in future.
Further since the regulations are not yet in place their may be cases of price rigging for establishing the price.
Bureau Galactik Views