I understand that these tokens are becoming more popular in various industries as they’re very difficult to duplicate, which means only one exists. It sounds like you could use this in the future for tokenized assets that you feel are most valuable amongst your company’s others. The company said they have unique identification codes that enable them to own any form of digital assets, including art, music, GIFs, and more.
It’s exciting that the British carmaker MG Motor India is launching its very own non-fungible token collection! The proceeds of this first event go to community service initiatives under MG SEWA – a program supporting women and children.
NFTs are unique tokens that exist on a blockchain and are irreversibly stored there. They have various codes that allow for ownership of different cryptos as well as other digital assets. These tokens make it possible to own all kinds of digital assets like stocks, titles and etc
NFTs are a new trend that is becoming popular among both actors and cricketers. With the latest move by MG, they are now the only carmaker in India with this practice.
MG Motor India NFT Collection
MG’s New Funding Technology (NFT) tokens will be categorized into 4 segments including Collectables, Community, Diversity and Collaborative Art, and Car-as-a-Platform.
Gaurav Gupta, a chief commercial officer of MG Motor India mentioned that “MG is taking a step to become more socially involved with their fans and the community. It’s all about celebrating our brand and ownership in unique, one-of-a-kind ways, so don’t miss out on the next exciting opportunity!”
Praphul Chandra, Founder of KoineArth said, “Our collection with MG will be INR-based as well as GST-compliant and will come with a certificate for buyers using blockchain technology that confirms the authenticity and origins of each piece.”
The automaker MG Motor India is in the market for quite some time now! They launch a new model called Hector, which is electric and efficient. They also sell ZS EV & Gloster vehicles too!