Hyundai Becomes the First Car Manufacturer to Release Community NFTs

Hyundai Motor Company will become the first automaker to hop on the community non-fungible token (NFT) market. The organization will launch 30 limited digital collectibles in collaboration with the NFT brand “Meta Kongz.”

Another Well-Known Name Joining the NFT Craze

The South Korean car giant – Hyundai Motor Company – released a film depicting the “Metamobility Universe.” The latter reflects on the entity’s NFT endeavors, first unveiled earlier this year.

In the film, the “Meta Kongz” gorilla character drives from Earth to the Moon, representing how mobility opportunities could transcend time and space. The movie also teases a shooting star-shaped NFT that will be launched in May.

To celebrate the film’s debut, Hyundai Motors issued 30 limited non-fungible tokens. By doing so, it became the only automaker (as of the moment) to enter the community-based NFT marketplace:

“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,” said Thomas Schemera – Hyundai’s Global Chief Marketing Officer.

Popular car brands have already issued non-fungible tokens. However, these collectibles were luxury automobiles created virtually and sold to certain collectors.

On the other hand, Hyundai Motor Company is the first to design community-based NFTs that enable owners to join the Metaverse space the firm created.

Ferrari and McLaren Among the Examples

Speaking of renowned automakers that dipped their toes in the NFT universe, it is worth mentioning Ferrari and McLaren. At the end of 2021, the Italian brand signed a multi-year partnership with the Swiss tech company – Velas Network AG – to release digital collectibles for its fans.

Farhad Shagulyamov – CEO at Velas – described Ferrari as an “icon of excellence” and opined that their collaboration comes as a natural move. The Scuderia Ferrari racing division is the most successful team in Formula 1, and the NFTs were expected to create significant enthusiasm among the fan base.

McLaren Racing joined the craze by launching a digital art collection on the Tezos blockchain. The first NFT drop featured different parts of the MCL35M 2021 Formula 1 race car, which collectors could purchase.

To mark the birth of the endeavor, the team decided to gift the first digital part of the automobile to the first 5,000 fans who joined the platform.

Featured Image Courtesy of HyundaiUSA