Shemaroo Entertainment and India-focused metaverse venture BharatBox have launched “Jab We Met” digital collectibles.
Leveraging Shemaroo Entertainment’s six-decade experience in the M&E industry, BharatBox aims to bring one million users into the metaverse. BharatBox plans to make India its largest market within the next two years.
Globally, the blockchain gaming market is projected to grow from US$154.46 billion in 2023 to US$614.91 billion in 2030 at a CAGR of 21.8 per cent while the metaverse in gaming market is expected to reach around US$648.24 billion by 2034, expanding at a CAGR of 34 per cent from 2024 to 2034.
This collaboration with Shemaroo Entertainment will increase fan engagement, by introducing Hindi film IPs and iconic characters into the metaverse, starting with a digital collectibles series based on the beloved film Jab We Met, whose IP is owned by Shemaroo Entertainment. Further, BharatBox will look to partner with multiple brands and create 15 such IPs by March 2025.
BharatBox set within The Sandbox metaverse is a subsidiary of Animoca Brands which allows users to build, own and monetise their gaming experiences. The first offering from this partnership will be the Jab We Met avatar collection, featuring 3,333 unique digital collectibles of “Geet,” the lead character portrayed by Kareena Kapoor in the film.
Fans will have the opportunity to own a piece of their favourite movie, as well as engage with the character and get rewarded for it. This includes winning exclusive merchandise and participating in various social and gaming quests designed to enhance the immersive experience.
This initiative will open up new revenue streams for both BharatBox and Shemaroo through digital collectibles and interactive games. This will allow the company to create more games and user experiences around these IPs. BharatBox will support and guide in production of the game design, game play and creating user experiences. Shemaroo will get access to players and creators across 12 plus countries on the metaverse, expanding its digital footprint and engaging a global audience.
“By creating these avatars, we are offering fans a novel way to interact with their favourite character,” said The Sandbox co-founder and COO Sebastien Borget. “The Jab We Met avatar collection not only honours a film that has touched many lives but also sets a precedent for how we can keep cinematic wonders relevant and alive for years to come.”
“This launch is a significant step in merging the intent to drive interactive engagement of blockchain and the timeless charm of Bollywood. Going forward, we will see more of such innovations on blockchain and metaverse which will transform fan engagement. Launching this avatar collection allows fans to own a piece of their beloved movie and engage with it in an innovative way,” said BharatBox CEO Karan Keswani.
“By embracing new technologies, we aim to be future ready, catering to evolving needs of the consumers. The launch of the Jab We Met immersive game and digital collectibles represents a significant step in our strategy to leverage the metaverse and expand our digital footprint. The blend of traditional entertainment with cutting-edge digital experiences will provide fans with unique and interactive forms of entertainment,” said Shemaroo Entertainment chief operating officer Arghya Chakravarty.
With this partnership BharatBox which forayed into the Indian market last year, will also gain rights to the other popular Hindi cinema IPs owned by Shemaroo Entertainment such as 22 yards, Great Gambler and many more, which will allow the company to create more games and user experiences around these IPs.
Last year, BharatBox also unveiled their project “Mahabharata” in the metaverse where users navigate through the Puranic realms, relive epic battles, and craft their own legends within the epic’s narrative.
