Mahindra & Mahindra Ltd. today announced its entry into the NFT (non-fungible token) universe, with the release of its first tranche of tokens, becoming the first Indian automotive OEM to enter this space.25 MARCH, 2022 | India
Mahindra becomes the first Indian Auto OEM to enter the NFT universe
Mumbai, March 25, 2022: Mahindra & Mahindra Ltd. today announced its entry into the NFT (non-fungible token) universe, with the release of its first tranche of tokens, becoming the first Indian automotive OEM to enter this space. NFTs are at the forefront of blockchain technology and have captured the interest of the digitally savvy and constantly connected generation. The entry of Mahindra into the NFT universe is yet another testimony of their continued focus on digital initiatives in the country.
The first NFT offerings from Mahindra will be based on the iconic Thar and will be released in collaboration with Tech Mahindra. Thar exemplifies the Mahindra promise of ‘Explore the Impossible’. Additionally, its larger-than-life imagery is suited to the futuristic, socially wired landscape of NFTs. This first-ever series comprises four NFTs that will be put up for sale via an auction starting on March 29, 2022, on Tech Mahindra’s NFT marketplace christened ‘Mahindra Gallery’.
All proceeds from the auction will go towards Project Nanhi Kali to support the education of underprivileged girls in India. Access to education helps the girl child fulfil her dreams and lays the foundation for an equal society.
The Thar experience doesn’t end with buying an NFT. The winners of the auction will be invited to the Mahindra Adventure Off-Road Driver Training Academy (Igatpuri, Maharashtra) or to the new state-of-the-art Mahindra SUV Proving Track (MSPT, Chennai) to experience the thrill of 4x4 motoring.
Commenting on the launch, Veejay Nakra, Chief Executive Officer, Automotive Division, M&M Ltd., said, “Mahindra & Mahindra has always been a pioneer in adopting new-age digital innovations to enhance the customer experience. 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.”
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 customer experience, engagement and brand equity through digital transformation, we are launching an NFT marketplace in collaboration with Mahindra Group. This marketplace titled ‘Mahindra Gallery’, is a one-stop-digital asset and collectbles 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.”
The unveil and auction for the first Thar NFT will take place on March 29, 2022, on https://auto.mahindra.com/suv/thar/nft starting at 11 am IST, followed by a 30-minute gap for subsequent auctions.
This will be a once-in-a-lifetime opportunity to own the very first NFTs of Mahindra Thar by participating in the auction.
Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership positionin farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.
The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.
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