SNEAK PEEK
- Mahindra & Mahindra released its non-fungible tokens (NFTs) days ago, with its first-ever tranche of tokens based on Thar, and one of the digital pieces was sold for a record Rs. 11 lakh.
- The NFTs were developed with Tech Mahindra, Mahindra Group’s IT department. They were placed up for auction on Tech Mahindra’s NFT platform dubbed “Mahindra Gallery”.
Mahindra & Mahindra released its non-fungible tokens (NFTs) days ago, with its first-ever tranche of tokens based on Thar, and one of the digital pieces was sold for a record Rs. 11 lakh, the company announced on Thursday. The organization is the first Indian automaker to join the NFT industry.
“Impossible? What exactly is it? In the NFT world, the famous Thar exemplifies what it means to #ExploreTheImpossible. “The MetaTHAR collectible ‘Standing Tall’ receives the highest offer of 11 lakh,” the Mahindra Thar, the company’s top sports utility vehicle, said on Twitter.
The NFTs were developed with Tech Mahindra, Mahindra Group’s IT department. They were placed up for auction on Tech Mahindra’s NFT platform dubbed “Mahindra Gallery” beginning March 29.
Impossible? What’s that?
The iconic Thar shows what it means to #ExploreTheImpossible in the NFT universe. MetaTHAR collectible “Standing Tall” gets the highest bid of ₹ 11 lakh. https://t.co/rG4gISRxDt#TharNFT #mahindratharnft pic.twitter.com/s4YLBtot9S— Mahindra Thar (@Mahindra_Thar) March 31, 2022
The Mahindra Group stated that all earnings from the auction would be donated to the “Ninhi Kali” project, which supports the education of disadvantaged girls in India.
It is now almost as expensive as buying the original #Thar because of the huge reaction to the auction! It makes sense since NFTs are truly one-of-a-kind,” Mahindra Group CEO Anand Mahindra tweeted.
An overwhelming response to the auction which means it’s almost as expensive as buying the real #Thar! But that makes sense, since the NFT is truly one of a kind… https://t.co/ZfNDf82GRl pic.twitter.com/P0FOfuF64w
— anand mahindra (@anandmahindra) April 1, 2022
NFTs, which are at the forefront of blockchain technology, has attracted the attention of a large technologically advanced public.
Veejay Nkra, Mahindra & Mahindra’s Automotive Division CEO, said that the launch of NFTs was another step for the company to “exploit digital marketing’s next frontier.” He noted that the company is ready to capitalize on the many opportunities to connect with and add to the Mahindra brand, all nameplates, and the NFT market.
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