Automotive industry titan Škoda steps into the world of Web3.
The Indian arm of Czech automobile titan Škoda Auto, Škoda India, embarked on a new journey into the realm of Web3 and non-fungible tokens (NFTs) on June 20th.
This pioneering endeavor, known as "Škodaverse India," is the product of a collaboration with Near Protocol.
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This unique platform has been designed to support interoperable and scalable NFTs across various platforms and offers minimal gas fees.
When commenting on the platform's vision, the company noted:
Škodaverse India will also unlock bespoke utilities and experiences for NFT holders which will be revealed along with the first drop details. All NFTs will be minted on carbon-neutral blockchains, aligning with our sustainable vision.
The specifics of the inaugural Škoda NFT collection's launch remain uncertain. However, the company emphasized that it will happen "soon."
The developers behind this platform have outlined several advantages that NFT owners will enjoy. These include possession of a one-of-a-kind digital asset that displays Škoda's artwork or collectibles, potential value growth and future resale possibilities, and access to exclusive benefits, rewards, or experiences related to NFT ownership.
The platform is set to support trading with both cryptocurrencies and fiat currencies. In their invitation to join the venture, the developers emphasized that this marked the company's initial foray into the Web3 world:
We step into the Web3 space and invite you to join us by exploring, collecting and owning unique digital art pieces.
The company was launched in 1925 in then Czechoslovakia. Following the fall of the Czechoslovak Communist regime in 1990, Škoda gradually became a subsidiary of the German automobile giant Volkswagen. The brand enjoys considerable popularity in Central and Eastern Europe, with a record delivery of 731,000 cars in 2022.
The launch of "Škodaverse India" by Škoda signals a significant move by an automotive industry titan into the evolving world of Web3 and NFTs.
In March, another car manufacturer, Nissan, filed for four new trademarks in the Web3 space, aiming to explore blockchain, NFTs, and other digital assets.
