Škoda Auto launches NFT platform.

On June 20, Škoda India, which is the Indian division of Czech automobile company Škoda Auto, launched a Web3 and nonfungible token (NFT) experience with Near Protocol. This new platform, known as “Škodaverse India,” will have low gas fees and NFTs that can be used across multiple platforms, and will also feature eco-friendly and scalable NFTs. The company stated:

“Škodaverse India will provide bespoke utilities and experiences for NFT holders, which will be disclosed alongside the first drop details. All NFTs will be created on carbon-neutral blockchains, aligning with our sustainable vision.”

The first Škoda NFT collection will be launched “soon,” with no specific date or price. Users will be able to mint the NFT as soon as it is released by adding funds to their wallets.

Developers have listed several benefits for NFT holders, including owning a unique digital asset that represents Škoda’s artwork or collectibles, the potential for value appreciation and resale in the future, and access to exclusive perks, rewards, or experiences tied to NFT ownership. Trading is available with both fiat and cryptocurrencies. Developers have also stated that the NFT platform represents the company’s first venture into Web3: “We are entering the Web3 space and inviting you to join us by exploring, collecting, and owning unique digital art pieces.”

Škodaverse India is now LIVE! We are delighted to announce our official entry into the Web3 space. Discover, explore, and create your account here: https://t.co/hNy0fY1eGQ Together with @NEARProtocol, we’re leading the way towards a decentralized future. #Skodaverse pic.twitter.com/0uIVYZjoxz

— Škoda India (@SkodaIndia) June 20, 2023

Founded in 1925 in what was then Czechoslovakia, Škoda was one of the largest industrial manufacturers in Interwar Europe until it was nationalized in 1948. After the collapse of the Czechoslovak Communist regime in 1990, the company gradually became a subsidiary of German automobile manufacturer Volkswagen. Its car brand is popular in countries throughout Central and Eastern Europe, with 731,000 cars delivered in 2022.

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