Hyundai Motor becomes the first automaker to issue community-based NFTs

2 months ago
2 mins read

With the craze for non-fungible tokens (NFTs) heating up, driven by the celebrities and corporations jumping on the bandwagon, Hyundai Motor has become the first in the automotive business to enter the community-based NFT market.

Specifically, Hyundai Motor will launch NFTs representing its mobility solutions which are part of the ‘Metamobility Universe’ that the automaker unveiled at CES 2022, the company said in the press release on April 17.

Additionally, the automaker has created a short film that reveals its partnership with the ‘Meta Kongz’ NFT brand that helped develop the NFTs. The film also helps the public visualize the “smart device-metaverse connection that will expand the role of mobility to virtual reality (VR), ultimately allowing people to overcome the physical limitations of movement in time and space.”

To commemorate the release of the film, the company will launch 30 limited edition ‘Hyundai x Meta Kongz’ NFTs on April 20. After this, Hyundai Motor plans to continue expanding its NFT Universe, directing the proceeds to the project’s management and community members.

Hyundai x Meta Kongz NFT design example. Source: PR Newswire

Continuous interaction with the community

On April 15, the company opened its NFT Discord and Twitter channels to keep managing the asset value of its NFTs. In particular, the official NFT website will launch in May, which will allow Hyundai Motor to interact with community members and provide real-time updates on the NFTs’ asset value.

Commenting on the announcement, Thomas Schemera, Hyundai Motor’s Global Chief Marketing Officer and Head of Customer Experience Division, has said:

“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’.”

Meanwhile, the global NFT trading volume is on a steady upward pattern, growing more than 200% since the year’s turn and recently surpassing $58 billion, as the adoption curve is only just starting.

The success of NFTs is largely due to the popular brands and personalities expanding into the space, as well as multiple cryptocurrency market participants expressing their optimism over the future of NFTs.

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Ana Nicenko

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.