According to The Guardian, the gift bags are consolation prizes for the acting and directing nominees. The gift bag for each nominee this year is $126,000 (roughly Rs. 1.03 crores).
These gift bags are distributed by Distinctive Assets, a Los Angeles-based company unrelated to the Oscars, which has been following the tradition since 2002. Each gift bag contains 60 items, including gifts such as a three-night stay. Japanese milk loaf, liposuction, and a facelift from a celebrity surgeon from the Italian island, Ginza Nishikawa.
Other items in the bag include chocolates, a plot of land in Australia, organic dates, hair restoration consultations with a doctor in Florida, and more. The celebrities who receive these gift bags are under no obligation to endorse them.
Meanwhile, RRR’s power-packed song Naatu Naatu won the Oscar for Original Song and The Elephant Whispers won the Best Documentary Short Film category at the Dolby Theater in Hollywood, California, making it a treat for Indian filmmakers and audiences. It has become a historic day.