Vision
With the distribution of its first tranche of tokens, Mahindra & Mahindra has declared its entry into the NFT (non-fungible token) realm. Prior to Mahindra, MG Motor entered the NFT market in December of last year. Mahindra’s first NFT is going to be based on Thar, one of the company’s best-selling SUVs, and going to be released in partnership with Tech Mahindra.
This first-ever series will be consisting of four NFTs that are going to be auctioned off starting March 29 on Tech Mahindra’s NFT marketplace dubbed ‘Mahindra Gallery.’
All sale proceeds will benefit Project Nanhi Kali, which supports the education of disadvantaged girls in India. Access to school assists the female child in realizing her ambitions and creates the groundwork for a more equal society.
The auction winners will be invited to either its Adventure Off-road Driver Training Academy (Igatpuri, Maharashtra) or the new Mahindra SUV Proving Track (MSPT, Chennai) to experience the excitement of 4×4 driving.
Reports
“Mahindra & Mahindra has always been a pioneer in embracing new-age digital solutions to enhance customer experience,” stated Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd. The introduction of NFTs is another exciting step forward in our efforts to capitalize on the next frontier of digital marketing. We will be able to provide our customers with a whole new set of experiences, establish communities for our brands, and boost brand awareness and loyalty. With our foray into the NFT arena, we are all poised to take advantage of the various opportunities for interacting with and adding to the brand and all of our nameplates, and there is no better brand for this launch than the Thar.”
Veejay Nakra, the chief executive of M&M’s automotive division, said this move marks another step by the company to “leverage the next frontier of digital marketing”.
“With our entry into the NFT space, we are all set to harness the countless possibilities of interacting and adding to the brand and all our nameplates, and there is no better brand for this debut than the Thar,” Money control quoted Nakra as saying.
Conclusion
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 Group. This market place titled ‘Mahindra Gallery’, is a one-stop-digital asset and collectables 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.”
