Mahindra & Mahindra to auction Thar NFTs on March 29

PTI, Mar 26, 2022, 10:01 AM IST

New Delhi: Mahindra & Mahindra (M&M) on Friday announced foraying into the Non-Fungible Token (NFT) market, becoming the first Indian automotive company to enter the space.

NFTs are at the forefront of blockchain technology and have captured the interest of the digitally savvy and constantly connected generation.

Mahindra’s initial NFT offerings, to be based on its iconic Thar vehicle, will be released in collaboration with Tech Mahindra.

This first-ever series comprises four NFTs that will be put up for auction on March 29 on Tech Mahindra’s NFT marketplace ‘Mahindra Gallery’.

All proceeds from the auction will go towards a project to support the education of underprivileged girls in India.

”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,” M&M CEO (Automotive Division) Veejay Nakra said in a statement.

With the company’s entry into the NFT space, it is all set to harness the countless possibilities of interacting and adding to the Mahindra brand and all nameplates, he added.