Homegrown vehicle maker Mahindra & Mahindra announced its entry into the NFT (non-fungible token) universe, with the release of its first tranche of tokens.
A communication from the company stated that the first NFT offerings from Mahindra will be based on the iconic Thar and will be released on March 29, 2022, in collaboration with Tech Mahindra.
This first-ever series comprises four NFTs that will be put up for sale via an auction starting the 29th of March 2022, on Tech Mahindra’s NFT marketplace christened ‘Mahindra Gallery’, the release added.
The company noted that all proceeds from the auction will go towards Project Nanhi Kali to support the education of underprivileged girls in India.
Veejay Nakra, Chief Executive Officer, Automotive Division, M&M, said, “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.”
CP Gurnani, MD & CEO, Tech Mahindra, said this marketplace, titled ‘Mahindra Gallery’, is a one-stop digital assets and collectables marketplace for all patrons of the Mahindra Group. The 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.”