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Škoda Auto Enters the NFT Race With Škodaverse India "Just like a Škoda, we believe the NFT collections will inspire you, spark your curiosity, and get you to explore the new and the better," read the official website. The date of the first collection drop is yet to be announced.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Škoda India

Škoda Auto has officially joined the likes of fellow global brands such as Nike, Adidas, Walmart, Louis Vuitton, and Hyundai by unveiling its own Metaverse- Škodaverse India.

The Czech automobile manufacturer took to Twitter to share the news with its audience, "We are thrilled to announce our official entry into the Web3 space."

The platform will give the users an opportunity for exploring, collecting and owning unique digital art pieces. The NFTs will be minted on carbon-neutral blockchains, aligning with the automobile maker's sustainable vision. The NFTs will have a lower gas fee, will be interoperable, and eco-friendly.

The price of a Škoda NFT will depend upon the rarity, demand and marketplace. Owners of the NFT will have access to exclusive perks, rewards, and experiences.

"Skodaverse India signifies the brands leap into uncharted digital territory. It's not just about creating extraordinary digital assets, it's about forging deep connections with a community that shares an unwavering passion for the brand and its initiatives in India. It also showcases our commitment to sustainability and innovation, through leveraging carbon-neutral blockchain technology that enables secure, transparent. and decentralized transactions," shared Christian Cahn von Seelen, Executive Director, Sales, Marketing and Digital, Škoda Auto Volkswagen India.

"Just like a Škoda, we believe the NFT collections will inspire you, spark your curiosity, and get you to explore the new and the better," read the official website. The date of the first collection drop is yet to be announced.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
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