Deep Dive: What’s next for India’s NFT ecosystem as it shifts focus from filmi trifles to utility

In October 2021, Bengaluru-based blockchain developer Ramesh Gopal aka Mike Blue bought Illuminous Showstopper, a non-fungible token (NFT) linked to a sketch by designer Manish Malhotra of a couture piece he had made for actor Kareena Kapoor Khan. It cost Gopal over 3,000 WRX, the native token of the cryptocurrency exchange WazirX, which came to about Rs 2.2 lakh then. It was like owning a piece of history, says Gopal.