Hyundai Motor becomes first carmaker to issue community-based NFTs

Hyundai Motor is issuing community-based non-fungible tokens as part of efforts to enhance its brand experience and customer community, becoming the first carmaker to enter the community NFT marketplace, the South Korean auto giant said Monday.

Hyundai released a short film introducing the “Metamobility Universe,” the carmaker’s NFT universe concept that was first unveiled at the Consumer Electronics Show in January.

The film, featuring Meta Kongz, a popular NFT gorilla character, visualized how mobility solutions can transcend time and space.

There are other global carmakers such as Lamborghini, Mercedes-Benz, and McLaren that have issued NFTs already. These carmakers‘ NFTs are basically exotic and luxury cars created virtually and sold in limited numbers for collectors.

But Hyundai Motor is the first to create community-based NFTs that allows owners to become part of the metaverse community Hyundai has created.

Hyundai recently created its own NFT community by launching several communication channels on Discord and Twitter. It also plans to launch an official NFT website sometime in May, which will offer real-time updates on the asset value of its NTFs.

Hyundai plans to issue 30 limited edition “Hyundai x Meta Kongz” NFTs that will be sold at one ethereum apiece on April 20.

Besides the limited edition NFTs, Hyundai’s shooting star-shaped NFTs also will be released in May and the profits will be used for the project’s sustainable growth and community members.

“The Hyundai NFT universe will extend the Hyundai brand experience, especially with the MZ generation (millennials and Generation Z), in a completely new way, further reinforcing our commitment to innovation in both the real world and in the metaverse,” said Thomas Schemera, Hyundai Motor’s global chief marketing officer and head of customer experience division. “We are extremely excited to introduce ‘Metamobility’ through our own NFTs and start this journey with ‘Meta Kongz.’”

By Hong Yoo (yoohong@heraldcorp.com)