Hyundai Motor is the first carmaker to offer NFTs based on community participation

Hyundai Motor has become the first company in the automotive industry to enter the community-based NFT market, as the frenzy for non-fungible tokens (NFTs) heats up, fueled by celebrities and corporations jumping on board.

Hyundai Motor will launch NFTs that symbolize its mobility solutions as part of the 'Metamobility Universe' that the carmaker presented at CES 2022, according to a press statement issued on April 17.

In addition, the automaker has produced a short film highlighting its collaboration with the 'Meta Kongz' NFT brand, which assisted in the development of the NFTs.

The film also aids in the public's understanding of the "smart device-metaverse connection that will broaden the function of mobility to virtual reality (VR), allowing people to escape the physical restrictions of movement in time and space."

On April 20, the firm will release 30 limited edition 'Hyundai x Meta Kongz' NFTs to honor the film's release.

Following that, Hyundai Motor intends to grow its NFT Universe, with earnings going to the project's management and community members.

The company launched its NFT Discord and Twitter channels on April 15 to maintain track of the asset value of its NFTs.

In May, Hyundai Motor will unveil the official NFT website, which will allow the company to communicate with community members and provide real-time updates on the asset value of the NFTs.

Thomas Schemera, Hyundai Motor's Global Chief Marketing Officer and Head of Customer Experience Division, commented on the news,

"The Hyundai NFT Universe will expand the Hyundai brand experience in an entirely new way, especially for the MZ generation, further reaffirming our dedication to innovation in both the physical world and the metaverse. We're very happy to start this adventure with 'Meta Kongz' and introduce 'Metamobility' through our own NFTs."