Insights Trends Škoda India Launches NFT Platform

Škoda India Launches NFT Platform

June 22, 2023 Trends
BITmarkets | Škoda India Launches NFT Platform

Škoda India, the Indian arm of Czech automaker Škoda Auto, has partnered with Near Protocol to launch a Web3 and nonfungible token (NFT) experience called "Škodaverse India." The platform aims to offer low gas fees, interoperable NFTs for multiplatform usage, and eco-friendly, scalable NFTs.

The NFT collection, which will consist of Škoda's artwork and collectibles, is set to be released soon, although no specific date or pricing details have been provided. NFT holders will benefit from owning unique digital assets, the potential for future value appreciation and resale, and access to exclusive perks and rewards tied to NFT ownership. The platform marks Škoda's entry into the Web3 space.

Škoda, part of Volkswagen concern, is not the first car company to join Metaverse, as there have been many others also presenting their models digitally. Founded in 1925 in Czechoslovakia, Škoda was a major industrial manufacturer in Interwar Europe until it was nationalized in 1948.

Following the downfall of the Czechoslovak Communist regime in 1990, Škoda gradually became a subsidiary of German automaker Volkswagen. The Škoda brand enjoys popularity in Central and Eastern European countries, with a total of 731,000 cars delivered in 2022.


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