Å koda Auto enters the realm of NFTs with Å kodaverse India

Driving into new realms of innovative technologies aimed at putting newer and younger audiences in the driver’s seat, Škoda Auto India has steered into the global Web 3.0 initiative with Škodaverse India. Part of the global Škodaverse initiative, Škodaverse India starts with a platform that enables users to explore, buy and trade NFTs (Non-Fungible Token) online. This initiative aims to build a community of Škoda loyalists to engage, collaborate and build a long-term relationship with the brand.

Mr. Christian Cahn von Seelen, Executive Director, Sales, Marketing and Digital, Škoda Auto Volkswagen India said, “Škodaverse India signifies the brands leap into uncharted digital territory. It’s not just about creating extraordinary digital assets, it’s about forging deep connections with a community that shares an unwavering passion for the brand and its initiatives in India. It also showcases our commitment to sustainability and innovation, through leveraging carbon neutral blockchain technology that enables secure, transparent, and decentralized transactions.”

An NFT is a digital certificate of ownership that acts as a unique identifier which cannot be copied, substituted or subdivided. They are recorded on a blockchain and used as certificates of authenticity as well as ownership. An NFT can be an image, video, sound or any other creative digital form as well as tickets and membership passes.

To enable universal participation of all Škoda India enthusiasts, the Škodaverse India NFT platform will enable purchase of NFTs through crypto currencies as well as through INR, USD, Euro and other fiat currencies. Keeping sustainability as a guiding star, the first collection of NFTs will be minted on the NEAR Protocol, a carbon neutral project as certified by South Pole. The platform is bulit on a sharded, proof-of-stake, layer-one blockchain designed for usability.

Škoda Auto India is commencing its web 3.0 strategy in collaboration with Antier, the largest blockchain consulting firm, which is also spearheading comprehensive innovation-focused processes of creating and minting NFTs.