- Want a slice of the action? Well, on December 28th MG will offer just 1,111 units of the NFT
- Are you still wondering about NFT and how it works?
Want a slice of the action? Well, on December 28th MG will offer just 1,111 units of the NFT
The British manufacturer will bring its own NFT collection this month and the proceeds will go to community service
MG Motor India has announced that it is entering the crypto world with Non-fungible Token or NFT. The car manufacturer will release as many 1,111 units of NFTs on 28th December, 12 Noon onwards. The proceedings from the NFT sale will go to the community service under MG SEWA.
MG Motor India has announced that it will enter the NFT market and will offer 1,111 units of artwork
Speaking on the announcement, Gaurav Gupta – MG Motor India, said,
“As an Auto-Tech brand, innovation has always been a driving force for MG. With this new initiative, we are taking a step to socialise NFTs. As this evolves it is set to bring MG owners, fans, MGCC members and the wider community together to celebrate and own invaluable digital creatives in its numerous forms. We are extending our existing relationship with KoineArth for our foray into NFT and the proceeds from this maiden sale will go towards supporting community service under MG SEWA.”
MG will offer its art in four “C” segments. Collectables, Community & diversity, Collaborative Art and CaaP (Car-as-a-platform). With the rising popularity of NFT around the world and in India, this sure is a very welcoming move.
Are you still wondering about NFT and how it works?
There are many other cars in the NFT market
Let us help you here. NFT stands for non-fungible token and it is a part of a cryptographic blockchain. If it does not make things clearer then think of NFT as a unique token, which cannot be replaced with something else. For example, a BitCoin can be replaced with exact same BitCoin but the NFT is unique!
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NFT are part of the Ethereum blockchain. Anything digital including drawings, music, AI, several lines of code, literally anything digital can become an NFT and it can be traded online.
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