Mahindra & Mahindra Ltd.

Mahindra & Mahindra (M&M) has entered into the NFT (non-fungible token) universe, with the release of its first tranche of tokens, becoming the first Indian automotive OEM to enter this space. The first NFT offerings from Mahindra will be based on the iconic Thar and will be released in collaboration with Tech Mahindra, an Associate of the Company.

NFTs are at the forefront of blockchain technology and have captured the interest of the digitally savvy and constantly connected generation. The launch of NFTs is another step taken by the Company to leverage the next frontier of digital marketing. The Company will be able to offer a whole new set of experiences to its customers, build communities for its brands, and also increase brand awareness and loyalty. The company initially proposes to start with four series of NFTs of Thar and the estimated investment towards the same is less than Rs 1 crore.

M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.