Authorities said that excitement over the Oscars win could help amplify the economic activity generated by Carinval festivities, with estimates for the festival approaching $1 billion dollar mark

Rio de Janeiro (Brazil) (AFP) - Rio de Janeiro held the first day of its famous Carnival samba parades Sunday – with many attendees also eying activities all the way in Hollywood, where Brazil could take home its first Oscar.

While the samba schools prepare to put their talents on display, the possibility of Brazil claiming victory at the Academy Awards with “I’m Still Here” generated an additional air of celebration among the Carnival festivities.

The film, directed by Walter Salles, tells the story of former congressman Ruben Paiva’s disappearance in 1971, and the actions by his widow Eunice during the country’s military dictatorship, which lasted from 1964-1985.

“I’m Still Here” earned nominations for best picture, best foreign film and best lead actress for Fernanda Torres, who already won a Golden Globe award for her performance.

Oscars buzz can be found all over the streets of Rio, as billboards and posters touting support for Torres display alongside revelers dressed up as her in the Carnival parades, with some dedicated entirely to the actress.

“There is no better day than a Carnival Sunday to win the Oscar,” Rebecca Maria Darakjian Batoni, a 25-year-old celebrant in the northeast city of Olinda, told AFP.

Among the crowds at Carnival, many attendees wielded plastic golden statuettes sold by street vendors.

Carinval festivities meets Oscars buzz during this year's celebration in Rio de Janeiro

“Fernanda is an example, an idol for all of Brazil, and today we’re all going to stop to see her win the Oscar!” said Cristina Leite de Moraes, a 25-year-old doctor.

Torres, 59, has said she felt “very proud” that the streets were filled with her image.

At Rio’s massive Sambadrome, the top twelve samba schools will compete from Sunday until Tuesday, in a new three-day format instead of the traditional two.

The change will give each group a little more time, up to 80 minutes, for its thousands of dancers and musicians to walk the mythical catwalk in front of some 70,000 attendees and millions of television viewers around the world.

Authorities said that excitement over the Oscars win could help amplify the economic activity generated by Carnival festivities, with estimates for the festival approaching the $1 billion dollar mark.