Indian automotive giant Mahindra will auction off Non Fungible Tokens (NFTs) based on its iconic Thar SUV on the 29th of March. Mahindra is the first Indian carmaker to enter the NFT space. The winners of the auction will also get the chance to experience the Thar at one of Mahindra’s off-roading tracks.
A Non Fungible Token is a cryptographic asset that features unique identification codes and metadata that distinguishes it from other NFTs. Unlike cryptocurrencies, Non Fungible Tokens cannot be traded or sold and therefore cannot act as a medium for commercial transactions.
Mahindra on the 29th of March will be selling four Non Fungible Tokens offerings based on the iconic Thar SUV. The proceeds from the sale of these four Thar NFTs will go towards Project Nanhi Kalis, to support the education of underprivileged girls across the nation.
Mahindra is releasing these four NFTs with the help of its sister company TechMahindra. The auction of these four Non Fungible Tokens based on the Thar SUV will go start at 11 a.m. tomorrow on TechMahindra’s NFT marketplace ‘Mahindra Gallery’.
Speaking about the auction of the four Non Fungible Tokens based on the Thar SUV, Mahindra & Mahindra (Automotive Division) CEO Veejay Nakra said, “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.”
“With our entry into the NFT space, we are all set to harness the countless possibilities of interacting and adding to the Mahindra brand and all our nameplates, and there is no better brand for this debut than the Thar,” Nakra added.
CP Gurnani, MD & CEO, Tech Mahindra stated, “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 Mahindra Group.” He further added that ‘Mahindra Gallery’ is a “one-stop-digital assets and collectibles marketplace for all patrons of the Mahindra Group”.
The NFTs sold by Mahindra will be based on the second generation of the Thar SUV. The Thar is Mahindra’s lifestyle SUV and since its arrival in 2010 has become the darling of off-roading enthusiasts across the country. The second generation of the Thar SUV was revealed on the 15th of August, 2020, almost 10 years after the original Thar was launched in October 2010.
The second-generation Thar is larger in every way than its predecessor. The new Mahindra Thar is 3,985mm long, 1,820mm wide and 1,920mm tall. The wheelbase of the SUV is 2,450mm long.
The second generation of the Thar is also the first time the SUV has been offered with a petrol engine and the option an automatic transmission.
The petrol Thar draws power from Mahindra’s turbocharged 2.0-litre inline four-cylinder mStallion engine that puts out 150bhp at 5,000rpm and 300Nm of peak torque between 1,250 and 3,000rpm. The diesel-engined Thar draws its power from a turbocharged 2.2-litre four-cylinder mHawk engine that cranks out 130bhp and 3,750rpm and 300Nm of peak torque between 1,600 and 2,800rpm. Both engines are offered with 6-speed manual and automatic transmissions.
Thoughts On Mahindra Entering The World of NFTs
Mahindra’s entry into the world of Non Fungible Tokens with the Thar shows a carmaker that is moving with the times. The fact that these tokens will help underprivileged girls across the nation get an education should hopefully drive the prices up when bidding starts at 11 a.m. tomorrow.
Keyword: Mahindra To Auction Off Thar NFTs For A Good Cause