MG becomes the first car company to launch NFT in India

Dec 18, 2021 1 min read
MG becomes the first car company to launch NFT in India

MG Motor India has become the first car manufacturer in India to offer a collection of NFTs. The MG NFT launch collection, which includes 1,111 digital creatives, will sell on December 28 at noon.

NgageN, a platform developed specifically for MG transactions by KoineArth, will host the carmaker's first-ever NFT. MG's NFTs are divided into 4 "C" segments: community & diversity, collaborative art, collectibles, and CaaP. (Car-as-a-Platform).

CEO Gaurav Gupta of MG Motor India says innovation has always been important for the company. We're taking a step toward making NFTs more accessible to the general public with this new initiative. MGCC members and fans, MG owners, and the wider community will be able to celebrate and own important digital creatives in various forms as this evolves. We are extending our current relationship with KoineArth for our first effort into NFT, and the proceeds will go to MG SEWA's community service."

"Working with MG Motor as it enters the NFT is an exciting opportunity for us," said KoineArth founder Praphul Chandra. Our goal is to leave an indelible impression on some of the world's most well-known names by creating credible NFTs. We will use blockchain technology to create a unique certificate of authentication based on INR and GST compliance for buyers. A fruitful relationship and expanding on the NFT momentum are our goals."

Great! Next, complete checkout for full access to CarInfo.
Welcome back! You've successfully signed in.
You've successfully subscribed to CarInfo.
Success! Your account is fully activated, you now have access to all content.
Success! Your billing info has been updated.
Your billing was not updated.