NFTs are part of the blockchain and are non-fungible, which means that it is unique, and cannot be replaced by anything else.
see photosMG Motors will release its first NFT for the Indian market on December 28
MG Motors has launched its first non-fungible token (NFT) in India, making the British carmaker the first automotive player of its kind in India. Its NFT collection will go on sale from 12 noon on December 28, consisting of 1111 units. of digital creative. The NFT will launch on KoineArth’s NgageN platform which is optimized for MG transactions.
MG is presenting its car as Platform Philosophy (CAP) with these NFTs. In addition, collectibles, community, diversity and collaborative art are classified as core pillars of these NFTs.
“As an auto-tech brand, innovation has always been a driving force for MG. With this new initiative, we are taking a step to make NFT social. , is set to bring fans, MGCC members and the wider public together. To celebrate the community together and own invaluable digital creative in its many forms. We extend our existing relationship with CoinEarth to our foray into NFTs. are expanding and the proceeds from this first sale will go to support community service under MG Services,” said Gaurav Gupta, Chief Operating Officer, MG Motors.
MG Motors is cementing its position as a tech auto brand with its infusion of AI, NFTs, Autonomy and EVs.
“Our association with MG Motor in our first journey in NFT is an exciting moment for us. At Coinearth, we are committed to create an immortal legacy for the most loved brands through trusted NFTs. Our collection with MG is INR-based. will also be GST-compliant, with a unique certificate of authentication for buyers using blockchain technology. We look forward to a fruitful partnership with the brand and build on NFT speeds,” CoinEarth founder Prabhu Lal Chandra announced said in.
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NFTs are part of the blockchain and are non-fungible, which means that it is unique, and cannot be replaced by anything else. Bitcoin or Ethereum (coin), on the other hand, cryptocurrencies are fungible and can be exchanged. NFTs are like trading cards – they can be traded for anything else and they are unique and hold value. Most NFTs are part of the Ethereum blockchain which is also a cryptocurrency like Bitcoin and Dogecoin. Other blockchains also support NFTs but are mostly hosted on the Ethereum blockchain. NFTs can be digital drawings, creatives or even music in the case of MG Motors.
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