Indian actor Vishal Malhotra has stated that he plans to become a filmmaker by producing India’s first NFT (Non-Fungible Token) crowdfunded film.
Vishal Malhotra who has been in the industry for 26 years, is looking forward to his directorial debut. In June of last year, he stumbled into the world of NFT. He is overjoyed that his directorial debut will be India’s first NFT crowdfunded film stating that “It is giving me a different identity.”
“Three months ago, I decided that I wanted to merge the two main interests that I have — films and Non-Fungible Token (NFT). I came up with this idea and thought why not create funding by selling the NFTs and from that money we make a film, like a proper project.”
Malhotra wanted to diversify his investment portfolio and found that NFTs have a lot to do with art and creation and film and animation which piqued his interest and he decided to explore NFT space.
“And then a lot of artists started approaching me from all over the world. I also found out that I was the first Indian actor to create a NFT and that time I got scared. But it sold at 5 times the price immediately and it became big news,” he said.
The film is currently in pre-production and will begin filming soon. He shared, “Individuals concerned within the movie are individuals who I’ve labored with. They informed me that additionally they wish to be a part of historic, first of its type venture. I’m really humbled.”
Given the buzz surrounding NFTs, many Indian celebrities have launched their own collectibles in the form of digital assets. In India, there are currently no regulators in place to monitor crypto and NFTs.
Recently, Indian actor Prabhas’ movie ‘Radhe Shyam’ produced by UV Creations had revealed that it is going to launch NFTs of its cast.