The Mahindra Group entered the world of NFTs earlier this week with its set of non-replaceable tokens based on its flagship Thar. Within days, one of the digital pieces sold for a record amount of Rs. 11 million. The group’s chairman, Anand Mahindra, described the response to Thar NFT as “overwhelming”. The company said all proceeds from the auction will go to Project Nanhi Kali – to support the education of underprivileged girls in India.
“Overwhelming response to the auction making it almost as expensive as buying the real Thar. But that makes sense, as the NFT is truly unique,” Mahindra said on Twitter. The tweet accompanied an image of the vehicle. The message on it read: “The master of the NFT universe is high on a super bid of Rs 11 lakh.
An overwhelming response to the auction, meaning it’s almost as expensive as buying the real one #Thar† But that makes sense as the NFT is really unique… https://t.co/ZfNDf82GRlpic.twitter.com/P0FOfuF64w
— anand mahindra (@anandmahindra) Apr 1, 2022
So far, Mahindra has earned a total of Rs 26 lakh from the sale of the first batch of NFTs. The NFTs were released in conjunction with Tech Mahindra, the IT arm of Mahindra Group, and have been made available for bidding on Tech Mahindra’s NFT marketplace “Mahindra Gallery” from March 29.
“An action-packed auction of the first-ever series of THAR NFTs has raised high bids worth Rs 26 lakh. Proceeds from the auction will be donated to Nanhi Kali which will facilitate the schooling of underprivileged girls,” Mahindra Thar said in a tweet.
An action-packed auction of the very first batch of THAR NFTs has generated high bids worth ₹26 lakh. The proceeds of the auction will be donated to: @NanhiKali empowerment of school education for underprivileged girls. https://t.co/rG4gISzopl#TharNFT#ExploreTheImpossiblepic.twitter.com/bsRZssOCLx
— Mahindra Thar (@Mahindra_Thar) March 31, 2022
In an update on Saturday, Mahindra said the auction for the very first Thar NFTs has closed. To thank the participants and congratulate the winners, it asked them to “look out for” an email from them about the next steps they should follow.
Mahindra had introduced a set of four NFTs: Standing Tall, Born of the Earth, Taking Flight and Explore the Impossible. The highest bid of Rs 11 lakh was made for Standing Tall. The NFT highlighted Thar’s ability to move around extremely rugged terrains such as rivers, slopes and dunes. The Thar’s high seating position was also emphasized in the NFT.
The winners could experience the Thar on one of Mahindra’s thrilling off-road tracks.