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MG Motor India is the 1st car brand to introduce NFT

Written by Akhil Dalvi

Renowned British car manufacturer MG Motors has announced that it will offer a collection of non-fungible tokens (NFT). With this announcement, MG Motor India has become the first carmaker in the country to offer an NFT. The brand has stated that the NFTs will go on sale from 12 pm on December 28th, 2021. Based on the 1111 units of digital creatives, the automaker will introduce its maiden NFT on KoineArth’s NgageN platform.

MG Motor India: NFT Details

Specifically customized for MG customer transactions, the brand has categorized the NFT into 4 ‘C’ segments and follows 4 pillars. The segments include Collectables, Community & Diversity, Collaborative art, and CaaP (Car-as-a-Platform), whereas the pillars include – diversity, experience, community, and innovation. MG Motor India states that with this initiative, it plans to take a new step into socializing NFTs.

By taking this step, the automaker aims to bring together MG owners, enthusiasts, and MGCC members to create a community. MG Motor India has stated that it aims to extend its relationship with KoineArth to celebrate the invaluable digital creatives. The all-new NFT scheme and its sales will end up supporting community services under the MG SEWA initiative.

According to KoineArth, the collaboration with MG Motor India will allow it to create a legacy via credible NFTs. KoineArth has also stated that its NFT collection by MG will be GST-compliant and INR-based to offer a unique experience. Additionally, buyers will receive a unique certificate of authentication while using blockchain technology which will ensure the verifiability of NFTs.

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Recently, MG Motor India gifted a customized Hector SUV to paralympic champion Bhavina Patel for her performance in Tokyo. Since the athlete won a silver medal at the Tokyo Paralympics of 2020, MG came up with a unique idea. MG Motor India has ensured to customize the unique Hector SUV with emphasis on comfort and driving pleasure.

The major customization updates include a hand-controlled lever that operates the accelerator and brakes along with specially-engineered wheelchair attachments. Additionally, this Hector features a DCT transmission with an engine start/stop button, significantly enhancing the convenience factor. By representing Bhavina Patel’s exemplary achievement, MG Motor India aims to promote its women-centric initiatives with this token of appreciation.

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