MG Motor India Becomes First Carmaker To Introduce NFT Collection

MG Motor India has become the first car maker to introduce NFT (Non-fungible token) collection in the country. The MG NFT will be made available for sale from December 28, at 12 noon, with 1111 units of digital creatives on KoineArth's NgageN platform that has been specially customised for MG transactions. MG Motor Launches New Hector Trim With Price Starting at Rs 14.51 Lakh.

MG NFTs will be categorised into 4 C segments - Collaborative art, CaaP (Car-as-a-Platform), Community & diversity and Collectables. As a reminder, NFTs are digital assets that can't be replaced, are validated and stored using blockchain technology.

MG Motor India CCO, Gaurav Gupta said, “As an Auto-Tech brand, innovation has always been a driving force for MG. With this new initiative, we are taking a step to socialise NFTs. As this evolves it is set to bring MG owners, fans, MGCC members and the wider community together to celebrate and own invaluable digital creatives in its numerous forms. We are extending our existing relationship with KoineArth for our foray into NFT and the proceeds from this maiden sale will go towards supporting community service under MG SEWA."

(The above story first appeared on LatestLY on Dec 17, 2021 12:59 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).