Polygon (Matic) confirmed that MG Motors became the first auto brand in India to launch its own collection of NFTs on ngageN using Polygon’s network.
Polygon a Layer 2 scaling solution, warmly welcomed MG Motors, an automobile manufacturer in India, a subsidiary of Chinese automotive manufacturer SAIC Motor which marketed vehicles under the British MG marquee, to the Web3 space and the Polygon ecosystem.
#Christmas can't get any better – Welcome to the Web3 space and the #Polygon ecosystem, @MGMotorIn!
MG Motors became the first auto brand in India to launch its own collection of NFTs on @koine_arth’s @ngageNFT platform built on Polygon.
Learn more: https://t.co/QsTqgrHTcw
1/2 pic.twitter.com/npIZNC0fdq— Polygon | $MATIC – We're hiring! (@0xPolygon) December 20, 2021
The sale of 1,111 NFTs, including GIFs and static images is reported to go live from December 28, which will cover MG Motor’s heritage, community and diversity, car-as-a platform, and collaborative art.
Polygon shared further details about the announcement in its blog post which states:
“The maker of Hector and Gloster SUVs plans to sell 1,111 NFTs, including GIFs and static images. The NFT collection will have several flavors: Morris Garages’ heritage, community and diversity, car-as-a platform, and collaborative art. NgageN platform supports payments using credit cards or UPI collectors, allowing users to pay for their NFTs in fiat currency. Proceeds will support girls’ education under the automaker’s MG Sewa program.”
Further discussing the importance of NFTs, the company states:
“Global brands from Nike and NBA to Coca-Cola and Taco Bell have rushed to embrace NFTs as a way to connect with their digital-savvy customers. In India, celebrities including Bollywood superstar Amitabh Bachchan, actor Rajnikanth, and cricketer Sunil Gavaskar have launched their own NFTs. MG Motor India will be the first automaker in the country to enter this space.”
Polygon is getting some serious adoption, biggest Web3 platforms and developers, from decentralized finance (DeFi) protocols such as lending platform Aave to luxury brands company Dolce & Gabbana and NFT marketplaces including OpenSea and Mark Cuban’s Lazy.com has chosen Polygon over its other competitors because of its broad range of scaling options and some of the industry’s lowest transaction rates. Even, Macy’s chose Polygon for its NFT debut with a series featuring its iconic Thanksgiving Day parade balloons.