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With the popularity of NFTs on the rise, MG Motor India – the maker of SUVs like Hector and Gloster – has decided to launch its own collection

MG Motor India will be taking the plunge into NFT (non-fungible token) soon, becoming the first carmaker in India to do so. MG’s NFT collection is scheduled to go on sale starting from 28 December 2021, 12 PM onwards. A total of 1,111 units of digital creatives will be available for purchase via KoineArth’s NgageN platform, which has been specially crafted to handle MG’s transactions.

MG’s NFT collection will be classified into four categories: collectables, community & diversity, collaborative art, and CaaP (Car As A Platform). This classification is based on MG’s four core pillars, namely diversity, experience, community, and innovation. The NFT collection will be based on the Indian rupee and will be GST-compliant, as per Praphul Chandra, Founder of KoineArth.

For those not in the know, NFT is a digital token or asset that represents a unique object (tangible or non-tangible), like art, music, or any collectable item. NFTs have become quite popular in recent years as a way to buy and sell digital artwork using blockchain, with some transactions going into millions of dollars! Each NFT has a unique identification code, which serves as the “safest proof of ownership” as per digital experts.

mg hector facelift-1

Gaurav Gupta – MG Motor India, had this to say on the occasion: “As an Auto-Tech brand, innovation has always been a driving force for MG. With this new initiative, we are taking a step to socialise NFTs. As this evolves it is set to bring MG owners, fans, MGCC members and the wider community together to celebrate and own invaluable digital creatives in its numerous forms.”

We are extending our existing relationship with KoineArth for our foray into NFT and the proceeds from this maiden sale will go towards supporting community service under MG SEWA,” he continued. Proceeds from MG India’s first-ever NFT collection sales will go towards community service.

MG Astor pics-10

On the automobile side of things, MG is planning to launch a few new cars in India. The brand is currently working on a new electric vehicle, which will be positioned below the ZS EV as a rival to Tata Nexon. Other than that, a sub-4-metre SUV (Kia Sonet rival) and a new MPV are also expected to be in the pipeline.

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