Abu Dhabi, United Arab Emirates, November 6, 2021 -/Telegraff News/- Ammbr Limited saw massive demand for the first Indian film to release a series of NFT as part of the promotion leading up to its release. Kurup, set to hit theatres on 12 November 2021, sets the trend and is a sell-out success with all its NFT sold within a day.
Ammbr opened the sale of three types of NFT from Kurup on 25 October.
• 1 Unique Video clip Premium NFT at 2,000 BUSD
• 10 animated gif NFT at 200 BUSD
• 100 still image NFT at 10 BUSD
Ammbr CEO, Derick Smith explains their delight at the response. “Within a few minutes the premium NFT was sold, and the animated NFT followed within a few hours. By the next morning the entire primary issuance was sold out.”
Ammbr collaborated with the co-producers of Kurup, Wayfarer Films and M-Star Entertainments, to launch the first NFT series supporting and promoting an Indian film.
“While Kurup has been eagerly awaited by fans, we felt the appeal to the tech-savvy younger generation of fans would be great,” explains Anish Mohan, director at M-Star Entertainments. “As it is, the project ensures Kurup is secured in the annals of history as the first to use this new wave of blockchain technology.”
The buyer of some of the Kurup NFTs did so because he recognised the long-term value of this as a collectable piece of movie history. Vaishak Uthaman, who heads compliance at a financial services company in Hong Kong, offered commentary.
“Being an avid Indian movies enthusiast and having had the good fortune of acting in a Malayalam movie, I understand the blockchain space and when I heard that a Malayalam movie is going to be the first Indian movie to have NFT’s sold as part of its promotions I was thrilled and thankful to buy a few in the primary markets before it sold out.”
Rakesh Rajagopal, Chief Strategy Officer at Ammbr had this to say. “The staggering prices fetched by NFT by obscure artists in recent months points to the novelty of the space, but real and lasting value in collectables lies in the story told by a particular piece. Considering the immensity of the Indian movie industry, combined with the vast population that consumes content and idolises the actors and actresses, it stands to reason that the value of the first releases will only escalate in time.”
About Wayfarer Films
Wayfarer films is a production and distribution company established by Dulquer Salmaan himself, with the vision of bringing new entertainment industry talent into the limelight. Since the incoporation of the company in 2019 they have rolled out multiple projects of different scale and are well positioned for huge growth.
About M-Star Entertainments
M-Star Entertainments is a fully owned subsidiary of Indel Corporation Pvt Ltd, which is diversified into various sectors such as banking, automotive, and hospitality. M-Star Entertainments is the group media entity that produces content of various formats for a variety of platforms. M-Star Entertainments’ strategy is forming fruitful partnerships to cater to the ever growing demands of customers in the entertainment industry.
Ammbr is an Abu Dhabi based decentralised technology company that develops and operates one of the leading tokenisation platforms that will forever change the way owners and creators of physical, intellectual, and digital assets conceive of ownership, trading, and interaction.
The Ammbr NFT Market is the first one globally to accept a stablecoin, BUSD, and not its own native token. This achieves price stability and certainty for buyers and sellers.