Mahindra & Mahindra to launch NFT of Thar SUV in collaboration with Tech Mahindra | Details here!

Zee Business’ Research Analyst, Ashish Chaturvedi, decodes non-fungible tokens (NFTs) in conversation with Zee Business’ Managing Editor, Anil Singhvi and plans of Mahindra & Mahindra after stepping into the (NFT) world. 

Mahindra & Mahindra had announced its entry into the NFT universe and is all set to release of its first set of tokens, Chaturvedi said.

Chaturvedi said before Mahindra, MG Motor forayed into NFT last year in December.

Mahindra’s first NFT will be based on one of its most selling SUVs, Thar. The NFT will be released in collaboration with Tech Mahindra using blockchain technology, he added. 

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Chaturvedi also said that the NFTs by M&M would be up for auction.

What will M&M do with the auction money?

Chaturvedi said that the company is very visionary, and all proceeds from the auction will go towards supporting the education of underprivileged children in India. 

What are NFTs?

Non-fungible tokens are digital assets that can be stored digitally using blockchain. NFTs can really be anything digital such as painting, music, etc. Because NFTs comes with a ledger and transactional data available through blockchain, it eliminates the chances of forgery, Chaturvedi explained.

Chaturvedi also said that recently Film Stars like Salman Khan and Amitabh Bachchan too entered the world of NFTs by launching their NFTs.

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क्या है NFT?#Mahindra की NFT स्पेस में एंट्री..
कल लॉन्च होगा थार SUV का NFT#TechMahindra के साथ NFT होगा लॉन्च

कंपनी कल #Thar SUV का NFT करेगी लॉन्च, जानिए पूरी डिटेल्स आशीष से..@AnilSinghvi_ @AshishZBiz @kunalsaraogi @ashumadan4 @iamrakeshbansal pic.twitter.com/GaY525eUwh

— Zee Business (@ZeeBusiness) March 28, 2022