Mahindra & Mahindra Ltd. announced its entry into the NFT (non-fungible token) universe with the release of its first tranche of tokens, becoming the first Indian automotive original equipment manufacturer (OEM) to enter this space. NFTs are at the forefront of blockchain technology and have captured the interest of the digitally savvy and constantly connected generation. Mahindra’s entry into the NFT universe is yet another testimony of its continued focus on digital initiatives in the country.
The first NFT offerings from Mahindra will be based on the iconic All-New Thar and will be released in collaboration with Tech Mahindra. The All-New Thar exemplifies the Mahindra promise of ‘Explore the Impossible’. Additionally, its larger-than-life imagery is suited to the futuristic, socially wired landscape of NFTs. This first-ever series comprises four NFTs that was put up for sale via an auction on March 29, 2022, on Tech Mahindra’s NFT marketplace christened ‘Mahindra Gallery’.
All proceeds from the auction went to Project Nanhi Kali to support the education of underprivileged girls in India. Access to education helps the girl child fulfil her dreams and lays the foundation for an equal society.
The All-New Thar experience doesn’t end with buying an NFT. The winners of the auction will be invited to the Mahindra Adventure Off-Road Driver Training Academy (Igatpuri, Maharashtra) or to the new state-of-the-art Mahindra SUV Proving Track (MSPT, Chennai) to experience the thrill of 4x4 motoring.
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 All-New 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 the customer experience, engagement and brand equity through digital transformation, we are launching an NFT marketplace in collaboration with Mahindra Group. This marketplace, titled ‘Mahindra Gallery’, is a one-stop-digital asset 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.”
You can also share your thoughts in the Comments section below!