NFTs of India’s First Metaverse Wedding See Quick Sales on Beyondlife.Club, Avatars of Couple Included

Elements of the crypto sector like non-fungible tokens (NFTs) and the metaverse are garnering major interest from Indians. NFTs based on India’s first metaverse wedding have made a debut on Beyondlife.Club marketplace. The 12-piece NFT collection sponsored by CoinSwitch Kuber displays the digital avatars of the Tamil Nadu-based couple in the backdrop of a Harry Potter theme. An avatar of the bride’s late father, as well as a copy of the wedding invitation, is also part of this series.

The collection, launched by NFT technology firm GuardianLink.io, witnessed quick sales and positive responses. NFTs are digital collectibles with their ownerships stored on the blockchain network.

“The NFT featuring the virtual avatars of the bride and the groom was purchased and resold within nanoseconds of the drop. A total of 50 copies of the same were sold at $10 (roughly Rs. 750) each,” Beyondlife.Club said in a press release. “One of them was re-sold for $100 (roughly Rs. 7,489) within a second on GuardianLink.io’s secondary marketplace.”

One of the tokenised wedding invites that was sold for $10 (roughly Rs. 750), is presently being traded at $4,450 (roughly Rs. 3 lakh).

The NFT auction inspired by India’s first metaverse wedding has stirred buzz around their upcoming wedding functions.

The bride and groom Janaganandhini Ramaswamy and Dinesh Kshatriyan will tie the matrimonial knot according to the traditions on the morning of February 6.

Later in the evening, the newly-weds along with their guests will attend their virtual reception as digital avatars in the metaverse. A three-dimensional version of the Internet, metaverse will potentially serve as a fully functional virtual venue.

The couple has collaborated with TardiVerse Metaverse startup to facilitate the virtual celebrations on the Polygon blockchain.

Research reports expect the market opportunity for the metaverse to reach $800 billion (roughly Rs. 59,58,719 crore) by 2024. The sector has been showing accelerating growth in India of late.

Last month, Punjabi singer Daler Mehndi became the first Indian artist to perform in a metaverse concert.

Music label T-Series also announced its entry into the metaverse in partnership with Hungama Digital earlier this week. As part of the deal, Hungama will be creating NFTs from the vast catalogue of new and existing Bollywood content parented by T-Series.


Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article. 

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! TechNewsBoy.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.