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Hyundai Motor Company Enters Into The NFT Market

Hyundai Motor Company Enters Into The NFT Market

Hyundai Motor Company, South Korea’s largest automobile manufacturer, will be the first in its sector to begin producing non-fungible tokens for users.

Hyundai Motor Company will be the first automobile manufacturer to enter the community non-fungible token (NFT) market. The group will collaborate with the NFT brand “Meta Kongz” to create 30 limited-edition digital collectibles that will be available for purchase.

Another well-known figure has jumped on the NFT bandwagon.

Hyundai Motor Company, a South Korean automobile manufacturer, created it. “Metamobility Universe” was the title. The latter refers to the company’s NFT initiatives, which were initially shown this year.

The “Meta Kongz” gorilla figure in the film travels from Earth to the Moon, demonstrating how mobility may be utilized to travel beyond time and space. The movie also has a shooting star-shaped NFT. In May, this NFT will be introduced.

Hyundai Motors created 30 tokens for the film’s premiere that can’t be purchased or sold. It did so, and as a result, it is now the sole vehicle maker to join the community-based NFT market:

In the future, the Hyundai NFT universe will enrich the Hyundai brand experience in a whole new manner, particularly with the MZ generation. This will demonstrate that Hyundai is continually exploring new methods to innovate in both the real world and the Metaverse.” Hyundai employees are highly enthusiastic about “Metamobility” and how it will be implemented in their vehicles. “Meta Kongz,” according to Thomas Schemera, Hyundai’s Global Chief Marketing Officer, is the first step on this journey.

Popular vehicle makers have previously created non-transferable tokens. These were, nevertheless, high-end automobiles created in a computer game and marketed to collectors.

Ferrari and McLaren are two well-known automobile manufacturers that have ventured into the NFT sector. An Italian brand secured a long-term partnership with Velas Network AG, a Swiss IT business, around the end of 2021. For its admirers, the corporation will create digital collectibles.

Ferrari is a “symbol of perfection,” according to Farhad Shagulyamov, CEO of Velas. He believes Velas and Ferrari should collaborate because it is logical. The NFTs were anticipated to be a major success with the fans since the Scuderia Ferrari racing division is the finest team in Formula 1.

McLaren Racing joined the party by launching a digital art collection on the Tezos blockchain. In the inaugural NFT drop, pieces from the MCL35M 2021 Formula 1 racing vehicle were auctioned. They might be purchased by collectors.

The company handed the first 5,000 users who signed up for the site the first digital section of the automobile as a way to kick off the initiative.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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