The term 'phygital' implies that the book will be available to purchase in both physical and NFT formats.
Non-fungible tokens (NFTs) are digital assets using which one can trade across products
Photo Credit: Instagram / Vikas Khanna
Michelin Star chef Vikas Khanna has collaborated with NFT marketplace Akshaya.io and launched his first 'phygital' limited-edition book Sacred Foods of India, in Dubai on Thursday.
The term 'phygital' implies that the book will be available to purchase in both physical and NFT formats. Its first unit has been bought by Sanjeh Raja from ICCA (international Centre of Culinary) at a price of $50,000 (nearly Rs. 40 lakh).
Sacred Foods of India brings recipes of prasad and foods served at various holy places around the country. Starting from June 25, it can be ordered from the Akshaya website, and the NFT of the book will be minted immediately along with its "digital twin".
This twin will be connected to the physical book itself and is unique to the owner of the physical copy. Further, the platform allows users to buy using their crypto wallet or any form of fiat currency.
This purchase will authenticate the originality of this limited-edition work, and ownership of the asset cannot be duplicated in any form.
Speaking at the launch, Ganesh Raju, CEO, Akshaya.io said, "Starting today, world is going to witness a new evolution in the digital space! And we are happy to partner with Vikas Khanna to create NFTs of his greatest work to date. Web 3.0 will transform the way in which enthusiasts of unique collectibles will engage with him. Considering Chef Vikas Khanna's popularity and the uniqueness of this book, we expect the NFTs of this work will acquire great eminence as time passes."
Non-fungible tokens (NFTs) are digital assets using which one can trade across products, including online-only assets. An NFT is a non-interchangeable unit of data stored on a blockchain that can be sold or traded. Metaverse, NFT combined with other advanced tools is Web 3.0 transformation which the World has started to experience.
This is the first-ever collaboration for Khanna with a Web 3.0 enterprise, and in the times ahead, there is a possibility he can create more augmented reality (AR) and virtual reality (VR) assets of his works and creations.
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