Mahindra Thar NFT gets auctioned for the price of a real Thar SUV. Details here
PremiumM&M on March 25 had announced its foray into NFTs based on Thar SUV.
The waiting period for Mahindra Thar is reportedly over six months in India, and thanks to that craze in the offline world, Thar in the virtual world is also seeing great demand. A Mahindra Thar non-fungible token (NFT) named ‘Standing Tall’ was sold for a record ₹11 lakh. The company has raised a total of ₹26 lakh from the auction.
“Impossible? What’s that? The iconic Thar shows what it means to #ExploreTheImpossible in the NFT universe. MetaTHAR collectible ‘Standing Tall’ gets the highest bid of ₹ 11 lakh," the company posted on its Twitter account.
M&M on March 25 had announced its foray into NFTs based on Thar SUV. The company had unveiled a total of four Thar-based NFTs.
“An overwhelming response to the auction which means it’s almost as expensive as buying the real #Thar! But that makes sense, since the NFT is truly one of a kind," Mahindra group head Anand Mahindra tweeted.
All proceeds from the auction will go towards Project Nanhi Kali to support the education of underprivileged girls in India. The winners of the auction will also get the chance to experience the Thar at one of Mahindra's off-roading tracks.
NFT is a unique and non-interchangeable unit of data stored on a digital ledger. NFTs can be associated with reproducible digital files such as photos, videos, and audio. NFTs use a digital ledger to provide a public certificate of authenticity or proof of ownership, but it does not restrict the sharing or copying of the underlying digital file.
