Hyundai Ventures Into The NFT Space, Launches Community-Based NFTs.

TL;DR Breakdown

• Hyundai forays into the NFT sector with a community-based approach.
• Several automobile giants are exploring the NFT industry.

Hyundai Motors, an automobile firm headquartered in South Korea, has notified its public of the unveiling of its community Non-Fungible Token(NFT) project. The initiative is the first by any automotive manufacturer, and it is being carried out in partnership with the creators of the NFT collection “Meta Kongz.” This information was made public through a post on the company’s website.

Furthermore, the automotive makers released a video today that briefly describes the Hyundai NFT ecosystem tagged as the “Metamobility Universe”. This goes in accordance with the “Metamobility” concept it unveiled at Consumer Electronics Show (CES) 2022 held in Las Vegas in January.  The idea revolves around smart devices being linked to the Metaverse in a manner that integrates mobility with virtual reality, with the objective of allowing users to defeat the physical restrictions of motion across time and space.

“We are extremely excited to introduce ‘Metamobility’ through our own NFTs and start this journey with ‘Meta Kongz’.” Said the Global Chief Marketing Officer at Hyundai, Thomas Schemera.

To celebrate the short clip, the Asian car giant will make 30 exclusive versions of NFTs available for purchase under the name “Hyundai x Meta Kongz” on April 20. Following that, other NFTs collections will be released over the year, specifically on the 11th of each month.

Hyundai joins other automobiles in the NFT space, but with a twist

The crypto space continues to witness a rise in adoption in the world. This has cut across individuals, private businesses, industries, and even governments. The automobile industry itself has welcomed crypto-assets with open arms, car companies such as Tesla and BMW accept cryptocurrencies for payment.

Meanwhile, other automakers have begun exploring NFTs and the Metaverse. Recently, Lamborghini partnered up with Fabian Oefner, an artist from Switzerland, to create their first NFT project tagged “Space Time Memory”. Also, in a call with their investors, Ferrari stated intentions to launch an NFT collection soon. To this effect, they have formed a partnership with a Swiss blockchain company, Velas.

However, Hyundai will distinguish out as the first automobile maker to approach the NFT market with an online community design. This includes multiple Twitter and Discord channels that were created on April 15, as well as an official NFT website that will be operational from next month.