MG Motor India is dipping its toes in the non-fungible token (NFT) space with a planned launch of its own collection on ngageN using Polygon’s network.
The maker of Hector and Gloster SUVs plans to sell 1,111 NFTs, including GIFs and static images. The NFT collection will have several flavors: Morris Garages heritage, community and diversity, car-as-a platform and collaborative art. NgageN platform supports payments using credit cards or UPI collectors, allowing users to pay for their NFTs in fiat currency. Proceeds will support girls' education under the automaker’s MG Sewa program.
Global brands from Nike and NBA to Coca-Cola and Taco Bell have rushed to embrace NFTs as a way to connect with their digital-savvy customers. In India, celebrities including Bollywood superstar Amitabh Bachchan, actor Rajnikanth and cricketer Sunil Gavaskar have launched their own NFTs. MG Motor India will be the first automaker in the country to enter this space.
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Polygon’s broad range of scaling options and some of the industry’s lowest transaction rates have made it a destination for some of the biggest Web3 platforms and developers, from decentralized finance (DeFi) protocols such as lending platform Aave to luxury brands company Dolce & Gabbana and NFT marketplaces including OpenSea and Mark Cuban’s Lazy.com. Last month, Macy’s chose Polygon for its NFT debut with a series featuring its iconic Thanksgiving Day parade balloons.
KoineArth’s ngageN, an exclusive, invitation-only NFT platform for brands, is going live on Polygon too. KoineArth is also considering Polygon integration for its marketsN, a secure B2B platform for building digital supply chains.
Check out MG Motor India’s collection, which goes on sale on Dec. 28, 2021. Head over to Polygon Studios to learn more about our work on NFTs, games and metaverse. Keep up with the latest news on our blog.
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