NFTs in India has been around for some time. It is a visionary step to digital currency in many sectors including real estate, gaming and music. It didn’t tap into the automotive sector in India until now. The Mahindra Thar is officially the first model in the Indian automotive sector to make an entry into the NFT space with the launch of its first set of tokens. NFTs are digital files that act as signatures to certify the owners of a photo, video or any other online media. Most valuable NFTs sells for millions of dollars at multiple auction houses.
Mahindra Thar enters the NFT space
Mahindra & Mahindra recently stated that this grand entry into the world of NFT is yet another attestation of its constant focus on digital enterprises in the country. Mahindra’s first-ever NFT offerings will revolve around the Thar SUV and will release in association with Tech Mahindra.
Veejay Nakra, CEO, Automotive Division, Mahindra & Mahindra Ltd. made a public statement about the launch. He said that the launch of NFTs is another thrilling step forward for Mahindra to get a grip on the next frontier of digital marketing. He also added that Mahindra will be able to offer a whole new set of experiences to their customers, build communities and also increase brand awareness.
Nakra believes that they will be harnessing every possibility of interacting and adding to the Mahindra brand and their nameplates. He added that there is no better brand for this particular debut than the Thar.
What makes this initiative even more exciting, according to Nakra is that the proceeds from the auction will be contributed towards Project Nanhi Kali. This project supports the education of underprivileged Indian girls. Access to having proper education fulfils the dreams of the girl child and it lays the crux for an equal society, Nakra further added.