Actress Cate Blanchett admits she has butterflies in her stomach on the day of the Oscars.

The 44-year-old is nominated in the best actress category for her performance in "Blue Jasmine" for the 86th Academy Awards, reports contactmusic.com.

"A lot of effort goes into effortlessness of walking up that marathon red carpet. I wake up with butterflies in my stomach. You never know the outcome. It has been an extraordinary year in films, so to be at the banquet is a privilege," Blanchett told OK! magazine.

The actress also admits that if she was like her character in "Blue Jasmine", who loses her fortune and has to adapt to a normal life, she wouldn't have the same difficulties as those around her to keep her grounded.

"Fortunately, I have the most extraordinarily supportive family and friends, and my identity is not based on either my work or any of this," Blanchett said.