About 25 km from Ahmedabad Airport, hundreds of NFT Collectors gathered as blue and white lights flooded the party hall at Club 07. But it wasn’t a raucous crowd. Most of the people remained seated, calm and quiet. Others stood silently watching the stage. Suddenly the crowd erupted in cheers – all shouting one name in unison “Digital Pratik”. People are shooting in the air, demanding to see the stage. A man stood on top of a chair, lost his balance and fell, just scrambling to get a better view.
At the JorrDaar NFT event, Web3 entrepreneurs and evangelists discussed digital transformation in everything – from art to assets. But that’s not what made the event so interesting. What made it captivating was that it was India’s first NFT event. NFTs, be it art, music, videos, GIFs, etc., have no real benefit.
JorrParivar of Digital Pratik claims to be the first community-driven NFT project in the country consisting of 1,254 NFTs around 22 IPs with a primary focus on the practical aspects of branding, marketing and motivation. These NFT tickets were redeemed on JorrParivar’s dedicated Web3 platform, which generated a QR code via the blockchain. Their portal then scans this into the event before allowing attendees. Please note that event tickets are not sold in Indian rupees or any fiat currency.
Each JorrParivar NFT token has a specific description and meaning and provides metadata with on-chain media storage. Notably, NFTs are mobile animals like Cheetah, Dog, Rabbit, etc. Obviously, these hand-drawn animals serve no real-world benefit. The premise of Digital Pratik’s approach is to give access to his community and serve his community he calls “Parivar” through exclusive training, workshops, monthly zoom calls, question-and-answer sessions, dinner meetings, etc.
These NFTs for animated animals have three levels: Bronze, Silver, and Gold. Any Bronze member (people who only purchased 1 member from NFT) were allowed to access the event. Silver members got an exclusive two day hotel stay in a lounge including access to the event, Gold members were part of different activities including GoKarting etc. Different levels of access and activities through the smart contract attached with each investment thus giving them a ‘benefit’ through metadata,” Pratik told Indianexpress.com.
Pratiksinh Chudasma also known as Digital Pratik is well known for his digital marketing skills. He dropped out of engineering college three times, the first time he left, when his father had a paralytic seizure, after which he worked in the sales department of a call center. Even after spending four years in his career in call center work, Pratik has not shown any progress which is why he started looking for more options to earn. He understood that making money online is the best option, and as a result, he started studying intensively during his digital marketing course. But due to lack of financial resources, he was unable to pay his fees and had to abandon the course halfway. But he did not lose courage and went back to work and also earned money. Then he returned to the digital marketing course. “I only had 300 rupees in my bank account. It was a tough time for me, thanks to my friends who helped me grow.” Now, Pratik creates content about digital marketing, web 3 and branding. Inspired by American entrepreneur Gary Vaynerchuk, Pratek launched his own collection of redeemable NFTs.
“Around 350 NFT holders from across India and from abroad attended the event,” said Chirag Jain, co-founder of Social Tag, a talent management and influencer marketing firm. “More than 50 people got a luxury suite room and attended activities like go-karting, indoor cricket, ice hockey etc. Facilities like swimming, tennis, virtual reality games and movie theater were also provided absolutely free of charge including VIP dinner with guest speakers.”
Devansh Seth, a 26-year-old college student and a JorrParivar NFT holder, has been following Pratik online. It is believed that Pratek became the father figure in his life. “I never had any goals. But his videos were encouraging, as he has that voice in there every day, 10 times a day, pumping out all that content constantly, and reminding me, ‘You can do it.’ Seth holds two NFTs Bronze He has spent all his savings, over 17,000 rupees on the purchase of these NFTs.
Another NFT holder Vaishakh Sabu, 31, flew all the way from Kerala just to get a glimpse of Pratik. He has NFTs of Gold, Silver and Bronze level. He found the Pratik authentic and real and wanted to be a lot closer to him, and thanks to NFT it made him feel that way. “I spent nearly a lakh on NFTs,” and “I will continue to buy.” Sabu aspires to be a content creator.
It was a dream come true for many in attendance. People want to meet their boss in real life. Some say they just want to hang out with him while others want to build a network. Nitra Acharya, 22, an artist with NFT, was in attendance at an event, missing her kidney to be a part of the event. “NFTs are all about communities. It doesn’t matter what the art is or how creative it is. But trusting a particular creator is the driving force. We believe in Prateek, and we know it can be our path to success.”
Despite the regulatory uncertainty, NFT owners remain bullish regarding cryptocurrency and NFT. Two young entrepreneurs, Harshel Anand, 20, and Hiran Banerjee, 21, said: “We have become part of the community, just because we believe in Prateek. Regulation still has a long way to go. India still understands cryptocurrency and it is here to stay. We are not. Here in the short term. Hiran carries 16 animatronic JorrParivar NFTs.
Interestingly, the market has fallen so hard that the price of NFTs has fallen to 50 percent of the purchase price. “…it does not matter, these prices will rise soon. This is what we call a market correction,” Harschel added.
One of the event sponsors, Anshul Rustagi, founder of a legendary Metaverse called “Zionverse” believes that the Pratik community is the driving force behind the event. “They love it and understand that they can do a great job because redeemable NFTs are something that has not been offered in India before.” Adding, “We wanted to do this because NFTs are not just a collection of images. They have a real utility and we are here to deliver that.”
NFT tickets are digital assets that contain your credentials for an event. With these tickets, NFT holders can take advantage of perks such as meet and greet and exclusive merchandise, creating a more immersive experience for fans. It is worth noting that NFT tickets provide ongoing royalties to artists, event organizers and stakeholders. It is the system that can disrupt the traditional ticket industry by solving the shortcomings of the current ticketing system.
Paper tickets and QR codes can be forged, and this is one of the main downsides to the traditional ticket system. This creates a gap in security for event venues and disappointment for fans who unknowingly bought a fake ticket. NFT tickets solve all this because every transaction is recorded on a blockchain ledger, event organizers and attendees can validate every ticket on the chain and even track ownership history. Thus, making it impossible for bad actors to fake the ticket,” Sanchett, chief technology officer of the event told Indianexpress.com.