Mahindra Thar NFTs up for auction: Here's everything to know
What's the story
Mahindra has revealed four superhero-themed non-fungible tokens (NFTs) based on its Thar SUV. They are called Born of the Earth, Exploring the Impossible, Taking Flight, and Standing Tall.
The NFTs are up for auction at an online marketplace, Mahindra Gallery, from Tuesday to Thursday (March 31).
The proceeds will go to a charity named Project Nanhi Kali, which supports the education of underprivileged girls.
Context
Why does this story matter?
Mahindra has always leaned toward the usage of new technologies and ushering in innovations. As such, the revealing of NFTs is simply another step in this direction.
The Mahindra Thar is a very popular car in India and offers good looks and performance. These new NFTs should aid it in securing a place in the history books as well.
Key term
What is an NFT and how does it work?
An NFT assigns a unique digital signature to tangible and intangible assets, even pictures. In case there is a change in ownership of an NFT, the data is recorded on the blockchain.
Collins Dictionary defines an NFT as "a unique digital certificate, registered in a blockchain, that is used to record the ownership of an asset such as an artwork or a collectible."
NFT #1
'Born of the Earth' highlights the Thar's timeless status
In the "Born of the Earth" NFT, the Thar can be seen in barren and rugged terrain.
As per Mahindra, the NFT references a name "pronounced in the same breath with mythical superheroes who were born to explore the impossible."
It also pays homage to the car's subsequent generations, which have become a "timeless icon" by evolving over time.
NFTs #2 and #3
Exploring the Impossible and Taking Flight hail the SUV's adventurism
The brand claims that "Exploring the Impossible" is a callback to Thar's need to use roads not taken and explore places "beyond your line of vision."
"Taking Flight" depicts an airborne Thar with a Superman-like cape on its back.
The picture is a representation of the SUV embracing new technologies to fulfill "the demands of a new generation searching for a sense of adventure."
Information
#4: Standing Tall romanticizes the car's off-roading ability
"Standing Tall" shows the four-wheeler with a cape, standing atop a mountain peak after completing a climb. This is possibly a reference to the Thar's off-roading prowess: the ability to traverse harsh terrains and remain unscathed.
Procedure
How to bid for the NFTs?
Potential buyers have to get themselves registered before the bidding starts and also create a Crypto Wallet.
The winning bidder will get a 48-hour window to claim the NFT by making a payment through the wallet. In case of non-payment, the NFT will be offered to the second-highest bidder.
Winners will also be invited to undergo off-road driving training in Igatpuri, Maharashtra, or Chennai.