'KGF' sets foot in metaverse, fans snap up NFTs in record time
Bengaluru, April 7: Racing towards its theatrical release this month, 'KGF: Chapter 2' is making waves in the metaverse as well.
A record number of Non Fungible Tokens (NFTs) have been snapped up by collectors in what is being termed as the biggest NFT sale in India till date. The sale saw the first 500 NFTs getting sold in the first 10 minutes.
KGF franchise makers Hombale Films have introduced a set of three NFTs - Bombay Rocky, Narachi Rocky and Toofan Rocky avatars.
Hombale Films along with Lysto and Bookmyshow, on Thursday unveiled 'KGFVerse', a digital avatar-based universe in the metaverse, dedicated to the fans of the film.
Excitement had been building since the initial announcement regarding the sale, and a huge number of prospective buyers were looking to get their hands on the especially rare Rocky Bhai NFT, which caused quite a stir.
The sale received great response from the buyers, resulting in the first 500 NFTS being sold in first 10 minutes, which is an Indian record for any sale of NFTs in the country.
As cinemas ready to welcome the much-awaited sequel on the big screen, fans get to own KGF franchise-themed digital collectibles, NFTs and membership in this innovative space created on the metaverse.
The makers believe that the time is right for the production house to enter the lucrative NFT marketplace arena and the partnership with Lysto and Bookmyshow enables Hombale Films to take advantage of their marketing and technological infrastructure.
With the endless possibilities of fan engagement and digital community building that the metaverse offers, this initiative follows a phased approach that has kickstarted with the launch of 10,000 'El-Dorado' digital tokens that cinephiles can either buy using MATIC (Polygon) cryptocurrency, or win across the many contests which have gone live on the social media platforms of Hombale Films, Lysto and BookMyShow.
The 'El-Dorado' digital tokens named after the mythical city made of gold, enables its owners to become members, granting them access to the gated collection of the KGFVerse and get first grabs on the future next-generation avatar drops, KGFverse land sale, special events including real-life meetups and interactions with the KGF team, amongst other exciting possibilities.
Through various phases that will follow, fans will get a chance to experience many more exciting drops that will be released soon.
Speaking on the KGFverse, Vijay Kiragandur, Founder of Hombale Films, said, "Metaverse is the new frontier of the Internet and an innovative way to engage with audiences and movie fans. Every artwork that one sees in KGF is a unique one and one, that cannot be seen in any previous films. This further propelled us in going big into the Metaverse.
"We also want our fans to be part of this and experience it. The future of virtual hangouts and a new way of consuming content is upon us and we are excited to explore this space to enable our fans to interact with elements of both chapters of KGF in the metaverse."
Speaking further about the NFT market and their plans ahead, Chaluve Gowda, co-founder for Hombale Films said, "While Indian fans are getting their dose with international market in NFT and the artwork available online, the unconditional love that KGF has received and fans extend, offer an immense potential for us in ushering into this new world of Web 3.0.
"We are witnessing this that any Indian fan is not just a spectator or silent admirer of art, they want to be active stakeholders and want to go out of their way to support their idols. We know what our fans want and the whole purpose is about giving power to the fans to make their favorite stars closer and more accessible. Our KGFverse is giving fans an opportunity to support their artist directly, flaunt their fandom and become a part of the larger community.
"NFTs intrinsically capture the value that fandom has always had, this value is now a direct relationship and with ownership too. We are going to get bigger and better in this field, as the NFT market grows and it's surely going to be the next big phenomenon for the entertainment and art industry."
Releasing nationwide on April 14, in Kannada, Telugu, Hindi, Tamil and Malayalam, 'K.G.F: Chapter 2' is written and directed by Prashanth Neel, and produced by Vijay Kiragandur, under the Hombale Films banner.
One of the emerging pan-India production houses, Hombale Films is set to showcase some of the biggest films in Indian cinema over the next two years, including the much-awaited film 'Salaar' starring Prabhas.
The film is being presented in north Indian markets by Ritesh Sidhwani and Farhan Akhtar's Excel Entertainment and AA Films. Excel has given super hits like 'Dil Chahata Hai', 'Zindagi Na Milegi Dobara', 'Dil Dhadakne Do', and 'Gully Boy', among others.