Mahindra & Mahindra announced that it will be launching its own bunch of NFTs. The company claims to be the first Indian automobile manufacturer to enter this field. Mahindra will be releasing its first tranche of tokens by the end of this month. What’s more, these NFTs will be based on popular Mahindra cars. Also Read - Anand Mahindra shows off a car priced under Rs 1,500 as man asks for a vehicle under Rs 10,000
The first NFT offerings from Mahindra will be based on the 2020 Thar. The NFTs will be released in collaboration with Tech Mahindra. Mahindra claims that the Thar is its first choice because its “larger-than-life imagery is suited to the futuristic, socially wired landscape of NFTs.” Also Read - Spotify is testing NFTs for select artists on the platform: How it works
The first dump of NFTs will comprise four token that will be put up for sale via an auction starting March 29, 2022, The NFTs will be sold on Tech Mahindra’s NFT marketplace called ‘Mahindra Gallery’. The auction will begin at 11 am IST, followed by a 30 min gap for subsequent auctions. Also Read - Instagram to begin testing NFTs this week in the US: All you need to know
Mahindra has announced that all the proceeds from the auction will go towards Project Nanhi Kali. This project aims to support the education of underprivileged girls in India.
Furthermore, the winners of the auction will be invited to the Mahindra Adventure Off-road Driver Training Academy (Igatpuri, Maharashtra) or to the new Mahindra SUV Proving Track (MSPT, Chennai), to experience 4×4 motoring, most likely on a Thar.
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 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.”
CP Gurnani, MD & CEO, Tech Mahindra, said, “At Tech Mahindra, we believe in innovating for the future. As an industry front runner, we have significantly contributed to digital transformational strategies and solutions. In line with our aim to reimagine customer experience, engagement and brand equity through digital transformation, we are launching an NFT marketplace in collaboration with Mahindra Group. This market place titled ‘Mahindra Gallery’, is a one-stop-digital assets and collectibles marketplace for all patrons of the Mahindra Group, and this platform-of-the-future will emerge as a key lever to showcase the rich archives and history of the Group that everyone can own in the form of NFTs, ushering in the next wave of digital ownership.”