Hyundai Motors Into NFTs

Korea’s largest automaker, Hyundai, announced that it is entering the online community-based non-fungible token (NFT) market, becoming the first automaker to do so.

Hyundai said in a press release that it is collaborating with Meta Kongz on NFT projects and memorandums of understanding (MOUs).

“The Hyundai NFT community will provide its users with the Hyundai brand experience in the metaverse by sharing NFTs depicting its mobility solutions. The Hyundai NFT Discord and Twitter channels opened on April 15, and the official NFT website is scheduled to open soon in May,” Hyundai said in the press release.

A short film introducing the automaker’s Metamobility Universe was also released. In it, the automaker presented its vision for a future in which virtual reality will be used to enhance mobility.

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

The automaker distributed 30 limited-edition NFTs on April 20 to commemorate the premiere of the short film. Even as the Hyundai NFT universe evolves, these releases will continue throughout the year, the company said. The proceeds from the sale of Hyundai NFTs will be allocated to project and community management, it added.

Meta Kongz has just completed governance voting on an agenda pertaining to the migration of the Klaytn chain to the Ethereum chain. The majority of votes cast were in support of the migration.

Meta Kongz will migrate to the Ethereum blockchain, a necessary step for the internationalization of the project. Due to the purported difficulty of attracting non-Koreans to the Klaytn chain, many NFT traders prefer to use the Ethereum chain with the Metamask wallet. As a result of the relocation, Meta Kongz it likely to receive increased exposure.

Hyundai Motor Co. has operations in more than 200 countries with more than 120,000 employees. “Based on the brand vision ‘Progress for Humanity,’ Hyundai Motor is accelerating its transformation into a Smart Mobility Solution Provider,” the company said in its press release.

“The idea behind Metamobility is that space, time and distance will all become irrelevant. By connecting robots to the metaverse, we will be able to move freely between both the real world and virtual reality,” Chang Song. Hyundai’s president and head of the transportation-as-a-service division, said earlier this year.

Produced in association with MetaNews.