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Hyundai Motor Enters Community Based NFT Market

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Hyundai Motor Company (HYMTF) on Monday announced its entry to the online community-based Non-Fungible Token (NFT) market in collaboration with the Meta Kongz NFT brand.

The Seoul-headquartered automaker is claiming to be the first automaker to enter the NFT market with its own NFT community, providing users with the Hyundai brand experience in the metaverse by sharing NFTs depicting its mobility solutions. The Hyundai NFT official website is set for launch in May whereas channels on Discord and Twitter opened on April 15.

By providing dedicated channels for the Hyundai NFT community, the company expects to continuously manage the asset value of its NFTs. The online platforms would provide a 24/7 open communications channel between the company and community members, with real-time updates on the asset value of its NFTs.

The company also released a short film introducing the Hyundai NFT universe concept "Metamobility universe," visualizing how mobility solutions can transcend time and space. The film at the end also teases a shooting star-shaped NFT that would be released in May.

Hyundai Motor would also be issuing 30 limited editions "Hyundai x Meta Kongz" NFTs on April 20 to commemorate the release of the film.

Profits from the sale of Hyundai NFTs would be used for the project's management and community members.

Shares of Hyundai Motor closed Thursday's trading at $36.00, up $0.20 or 0.56 percent from the previous close.

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