Daler Mehndi Buys Metaverse Property 'Balle Balle Land'

SUMMARY

The Punjabi pop singer has also hosted his own virtual concert on Metaverse on the occasion of Republic Day in January 2022

Balle Balle Land or BBL was inaugurated on the occasion of Holi this year

With this investment in Metaverse property, Mehndi has joined the league of Facebook, Microsoft, Google, Roblox among others

Punjabi pop singer Daler Mehndi has bought a property in Metaverse for an undisclosed amount, calling it ‘Balle Balle Land’.

Mehndi is all set to take on the virtual world and electronic universe through this investment. He will host Bollywood films, music, concerts by various artists across genres including Pop, Hip Hop, Rap, Sufi and regional music on his property.

The pop singer has now joined the league of Facebook, Microsoft, Google, Roblox among others with investment in Metaverse property.

Inaugurated on the occasion of Holi, Balle Balle Land or BBL marks the first purchase of land on Metaverse in India. BBL features a store that will sell merchandise and royal products as both NFTs and physical goods delivered to consumers’ doorstep. BBL would also house a host of activities with its own concert bus, as per media reports.

The Punjabi pop composer has also hosted his own virtual concert on Metaverse on the occasion of India’s 73rd Republic Day this year. His fans attended the concert with their computers and mobile phones.

This was the first time any Indian artist had performed on Metaverse. There, his performance lasted for approx 14 minutes.

After performing in a virtual gig PartyNite on Metaverse from Gametronics, a Hyderabad-based gaming studio, the singer got fascinated by its concept and execution, and decided to invest in Metaverse.

Metaverse And Entertainment Going Hand-In-Hand

The entertainment industry in India has also been taken by storm with metaverse popularity. Radhe Shyam, starring Prabhas and Pooja Hedge, became the world’s first movie to release content on the metaverse on March 5, 2022.

VoD platform ALTBalaji, in February this year, launched a fantasy-based metaverse game for its reality show Lock Upp, where users can have their own experience of the reality TV show.

Realising its potential, many entertainment companies have also invested in the Metaverse ecosystem in the past two months. For example, music label T-Series joined hands with entertainment company Hungama’s division HEFTY Entertainment in January this year to create Metaverse with the Non-Fungible Tokens (NFTs).

Meanwhile, the market size of the metaverse was $47.69 Bn in 2020, and it is poised to grow at a CAGR of 43.3% to reach $828 Bn by 2028, according to an analysis by Emergen Research.

Rising focus on converging digital and physical worlds through the internet and the recent Covid-19 outbreak are expected to support its market revenue growth between 2021 and 2028.