Hyundai Motor Becomes The First Automaker To Issue Community-Based NFTs

Hyundai Motor has become the first company in the automotive industry to enter the community-based NFT market, as the frenzy for non-fungible tokens (NFTs) heats up, fueled by celebrities and corporations jumping on board.

Hyundai Motor will launch NFTs that symbolize its mobility solutions as part of the ‘Metamobility Universe’ that the carmaker presented at CES 2022, according to a press statement issued on April 17.

In addition, the automaker has produced a short film highlighting its collaboration with the ‘Meta Kongz’ NFT brand, which assisted in the development of the NFTs. The film also aids in the public’s understanding of the “smart device-metaverse connection that will broaden the function of mobility to virtual reality (VR), allowing people to escape the physical restrictions of movement in time and space.”

On April 20, the firm will release 30 limited edition ‘Hyundai x Meta Kongz‘ NFTs to honor the film’s release.

Hyundai Motor intends to grow its NFT Universe, with earnings going to the project’s management and community members

On April 15, the company opened its NFT Discord and Twitter channels to keep managing the asset value of its NFTs. In particular, the official NFT website will launch in May, which will allow Hyundai Motor to interact with community members and provide real-time updates on the NFTs’ asset value.

Commenting on the announcement, Thomas Schemera, Hyundai Motor’s Global Chief Marketing Officer and Head of Customer Experience Division, has said:

“The Hyundai NFT Universe will extend the Hyundai brand experience, especially with MZ generation, in a completely new way, further reinforcing our commitment to innovation in both the real world and in the metaverse. We are extremely excited to introduce ‘Metamobility’ through our own NFTs and start this journey with ‘Meta Kongz’.”

Meanwhile, the global NFT trading volume is on a steady upward pattern, growing more than 200% since the year’s turn and recently surpassing $58 billion, as the adoption curve is only just starting.

The popularity of NFTs is attributed in large part to well-known companies and personalities entering the industry, as well as many cryptocurrency market participants expressing optimism about the future of the technology.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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