Mahindra enters the NFT universe with Thar, the first Indian automotive supplier to enter this space
Mahindra & Mahindra Ltd. today announced its entry into the NFT (non-fungible token) universe, with the release of its first tranche of tokens, becoming the first Indian automotive supplier to enter this space.
NFTs are at the forefront of blockchain technology and have sparked the interest of the digital and constantly connected generation.
Mahindra’s first NFT offerings will be based on the iconic Thar and will be released in conjunction with Tech Mahindra. Thar exemplifies Mahindra’s promise to ‘explore the impossible’. Additionally, his larger-than-life imagery is suited to the futuristic, socially wired landscape of NFTs, he said in a press release.
This very first series includes four NFTs which will be offered for sale via auction starting on the 29thand of March 2022, on Tech Mahindra’s NFT marketplace called ‘Mahindra Gallery’.
All proceeds from the auction will go to the Nanhi Kali Project, to support the education of underprivileged girls in India. Access to education helps the little girl realize her dreams and lays the foundations for an egalitarian society.
The Thar experience doesn’t end with the purchase of an NFT, the company said in a press release. Auction winners will be invited to the Mahindra Adventure Off-road Driver Training Academy (Igatpuri, Maharashtra) or the new state-of-the-art Mahindra SUV Proving Track (MSPT, Chennai), to experience the thrill of automotive 4×4 .
Commenting on the launch, Veejay Nakra, Managing Director Automotive Division of M&M Ltd, said: “The launch of NFTs is another exciting step for us to take advantage of the next frontier of digital marketing. We will be able to deliver a whole new set of experiences for our customers, build communities for our brands, and also increase brand awareness and loyalty. With our entry into the NFT space, we are all poised to tap into the endless opportunities to interact with and add to the Mahindra brand and all of our nameplates, and there is no better brand for this beginning than the Tar.
CP Gurnani, MD and CEO of Tech Mahindra, said, “In line with our goal to reinvent customer experience, engagement and brand value through digital transformation, we are launching an NFT Marketplace in collaboration with Mahindra Group. This marketplace titled “Mahindra Gallery” is a one-stop marketplace of digital assets and collectibles for all Mahindra Group clients, and this platform of the future will emerge as a key lever to showcase the rich archives and history. of the Group that anyone can own in the form of NFTs, ushering in the next wave of digital ownership.
The unveiling and auction of the first Thar NFT will take place on March 29, 2022 at www.mahindragallery/middlemist.com starting at 11 a.m., followed by a 30-minute interval for subsequent auctions.
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Posted: Friday, March 25, 2022, 5:39 PM IST