With four Mahindra Thar-based NFTS, Mahindra & Mahindra recently announced their entry into the NFT (Non-Fungible Token) market. As a result, the business is the first in India’s automotive industry to enter the NFT market. The four NFTs that will be auctioned were unveiled today by Mahindra & Mahindra.
The auctions began at 11 a.m. today (March 29) and will run until 7 p.m., with a 30-minute break before the next NFT sale. The bidding starts at Rs 1 lakh, and all proceeds from the winning bids will be donated to ‘Project Nanhi Kali,’ which helps impoverished girls get an education. Aside from receiving these NFTs, the winners will be invited to the Adventure Off-road Driver Training Academy in Igatpuri, Maharashtra, or will get the opportunity to test drive their 4x4s at the Mahindra SUV Proving Track (MSPT, Chennai).
The MetaThar series is made up of the four NFTs, each with a particular subject highlighting the Mahindra Thar’s capabilities in exploring the unknown. Standing Tall, Born of the Earth, Taking Flight, and Exploring the Impossible are the four NFTs. The NFT’s owners will also be allowed to sell or exhibit it. To sell it, the user can use their Crypto Wallet ID on any Polygon-compatible third-party marketplace.
“Mahindra & Mahindra has always been a pioneer in embracing new-age digital solutions to enhance the consumer experience,” stated Veejay Nakra, Chief Executive Officer, automotive division, M&M Ltd. The introduction of NFTs is another another exciting step forward in our efforts to capitalise on the next frontier of digital marketing. We will be able to provide our consumers with a whole new set of experiences, as well as create communities for our brands and boost brand recognition and loyalty. We are all ready to harness the endless possibilities of engaging and contributing to the Mahindra brand and all our nameplates with our introduction into the NFT arena, and there is no greater brand for this launch than the Thar.”
The auction ends on March 31, and it will be fascinating to watch how much these NFTs go for. Keep an eye on this space for additional information about Mahindra & Mahindra’s first-ever NFT auction.