Friday, July 25, 2025

MG Motor Become First Carmaker To Launch NFT In India

In partnership with KoineArth, MG Motor India has launched its own NFTs (non-fungible tokens), making it the first carmaker in the country to launch a collection of NFTs. A total of 1,111 units of NFTs collections will go on sale on KoineArth’s NgageN platform on 28th December, 12 Noon onwards as part of the launch collection. They will be centered around Collectables, Community & diversity, Collaborative art, and CaaP (Car-as-a-Platform).

What is NFT

Speaking on the launch, Gaurav Gupta, Chief Commercial Officer, MG Motor India, said –

As an Auto-Tech brand, innovation has always been a driving force for MG. With this new initiative, we are taking a step to socialize 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.

For those who aren't aware, the NFTs (non-fungible tokens) are digital assets that represent real-world objects like art, music, collectibles, GIFs, video, etc. These are stored on a blockchain (a digital ledger on which the sale & purchase of NFTs is recorded) and come with exclusive ownership rights. Just like any other e-commerce transaction, these MG NFTs will be sold via the ''Add to cart and pay'' method. The payment will be accepted in Indian rupees (GST-compliant) and the buyer will get a receipt and a certificate of authenticity.

CaaP (Car-as-a-Platform)

The recently launched MG Astor SUV comes with a Car-as-a-Platform (CAAP) function that features on-demand in-car services and subscriptions in the areas of utility, entertainment, security, consumer payment, and more in near future. In fact, it also comes with India’s first-of-its-kind Vehicle Digital Passport (uses blockchain technology) that can be used to track service history, transactions, insurance, proof of ownership and real-time events, etc. This digital passport can be shared with third parties like insurance partners or used car portals, etc. This could benefit customers in getting higher resale value and a better insurance premium based on their driving behavior and service adherence. Besides, all other MG models like Hector, Hector Plus, ZS EV, and Gloster come with an embedded sim to provide high-speed in-car connectivity. 

By offering NFTs, MG will revolutionize the car buying and car ownership experience in the future.

Car News

New Renault Triber Teased; Launch Tomorrow

0
Latest Update: The facelifted Renault Triber has finally been launched in India, with prices starting from Rs 6.29 lakh (ex-showroom). Head here to know...

MG Cyberster To Be Launched Tomorrow

0
JSW MG Motor India is all set to launch the Cyberster tomorrow, ie, July 25, 2025. It was showcased at the 2025 Auto Expo....

New Renault Triber Facelift Launched In India At Rs 6.29 Lakh

0
Priced from Rs 6.29 lakh.  Available in four trims: Authentic, Evolution, Techno, and Emotion. Exterior highlights include a new blacked-out grille, redesigned bumpers at both ends,...
new Renault Triber accessories list

2025 Renault Tribe Facelift Accessories Detailed

0
The facelifted Renault Tiber has finally been launched in India, with prices starting from Rs 6.30 lakh (ex-showroom). The sub-4m MPV is available in...

Related Articles

MG Cyberster To Be Launched Tomorrow

JSW MG Motor India is all set to launch the Cyberster tomorrow, ie, July 25, 2025. It was showcased at the 2025 Auto Expo....

Ather Renamed Pro-Pack To AtherStack Pro

Ather Energy has renamed its ‘Pro Pack’, the software bundle that enables numerous performance and connectivity features on its scooters, to 'AtherStack Pro'. The...

2025 Renault Tribe Facelift Accessories Detailed

The facelifted Renault Tiber has finally been launched in India, with prices starting from Rs 6.30 lakh (ex-showroom). The sub-4m MPV is available in...

2025 Renault Triber Facelift: All Variants Explained

The Renault Triber has recently undergone a facelift update, with prices starting from Rs 6.29 lakh (ex-showroom). The upgraded sub-4m MPV now comes with...

New Renault Triber Facelift Launched In India At Rs 6.29 Lakh

Priced from Rs 6.29 lakh.  Available in four trims: Authentic, Evolution, Techno, and Emotion. Exterior highlights include a new blacked-out grille, redesigned bumpers at both ends,...