Mahindra and Mahindra open auctions for first-ever Thar NFTs
Mahindra and Mahindra recently announced their foray into the NFT (Non-Fungible Token) with four Mahindra Thar based NFTS. This makes the company the first in the Indian automotive space to enter the NFT realm. Today, Mahindra and Mahindra has taken the wraps off of the four NFTs that will be auctioned.
The auctions opened at 11 AM today (March 29) and will be on till 7 PM followed by a gap of 30 minutes for subsequent NFT auctions. The bidding starts at a minimum of Rs 1 lakh and all the amount collected from the winning bids will be donated to ‘Project Nanhi Kali’ for the education of underprivileged girls. Apart from acquiring these NFTs the winners will also be invited to the Adventure Off-road Driver Training Academy (Igatpuri, Maharashtra) or to experience driving their 4x4s at the Mahindra SUV Proving Track (MSPT, Chennai).
The collection of the four NFTs are called the MetaThar collection and each follows different themes all showcasing the Mahindra Thar’s prowess in exploring the unknown. The four NFTs are called Standing Tall, Born of the Earth, Taking Flight and Exploring the Impossible. The owners of the NFT will also be able to sell it or display it To sell it the owner can use their Crypto Wallet ID on any 3rd party marketplace that supports the Polygon platform.
Commenting on the launch, Veejay Nakra, Chief Executive Officer, automotive division, M&M Ltd., said, “Mahindra & Mahindra has always been a pioneer in adopting new-age digital innovations to enhance the customer experience. The launch of NFTs is another exciting step for us to leverage the next frontier of digital marketing. We will be able to offer a whole new set of experiences to our customers, build communities for our brands, and also increase brand awareness and loyalty. With our entry into the NFT space, we are all set to harness the countless possibilities of interacting and adding to the Mahindra brand and all our nameplates, and there is no better brand for this debut than the Thar.”
The auction closes on March 31 and it will be interesting to see what prices these NFTs sell for. Stay tuned for more updates on Mahindra and Mahindra’s first-ever NFT auction.