South Korean auto giant Hyundai Motor has entered the non-fungible token (NFT) market after collaborating with the ‘Meta Kongz’. It is the NFT brand to enhance its customer community and brand awareness.

So, Hyundai Motor became the first automaker to penetrate the NFT space with its own community. This includes channels on Twitter and Discord and the Hyundai NFT official website. Per the announcement:

“The Hyundai NFT community will provide its users with the brand experience in the metaverse by sharing NFTs depicting its mobility solutions.”

Further, the channels will help the Hyundai NFT community to manage the non-fungible tokens’ value.

Hyundai also released a short film showcasing its NFT universe concept dubbed “Metamobility Universe”. That was first rolled out at the Consumer Electronics Show earlier this year. 

Collaboration of Meta Kongz and Hyundai 

Meta Kongz is a famous NFT gorilla character. The film reflected the ‘Metamobility’ concept, which is expected to offer a smart device-metaverse connection.

Hyundai also intends to offer 30 limited editions of the NFTs on April 20 to commemorate the film release. 

Moreover, Profits are expected to be channelled towards community members and the project’s management.

In addition, Various auto giants, such as Lamborghini, McLaren, and Mercedes-Benz, have entered the NFT space. However, the concept adopted entails representing exotic and luxury cars as digital assets.

Last month, McLaren partnered with InfiniteWorld to showcase its luxury hypercars and hypercars in the metaverse in the form of NFTs. 

Users were to have the chance to own McLaren-branded products. Irrespective of whether they could afford an automobile from the company or not.

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By driving the New 500 electric vehicle, customers will receive rewards in KiriCoins to their wallets in the Fiat app. A special algorithm will analyze driving data and convert it to coins, the source says. After earning their rewards, drivers can spend KiriCoins in the Kiri marketplace.

According to the source, each KiriCoin is worth two euro cents. Moreover, a driver can earn about one KiriCoin per one kilometer of driving. Drivers with the highest scores will be able to access additional reward options from program’s partners, such as Amazon, Spotify, or Netflix vouchers. As the goal of the program is to promote a more sustainable lifestyle, it is possible that it will go into other areas of life and industries, not only automotive.

However, cryptocurrency’s own impact on the environment has been under scrutiny recently. Mining crypto is a process that requires powerful computers and, as a result, consumes a large amount of energy, making the carbon footprint of Bitcoin close to that of a whole country like Argentina.

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