This is how you can buy Thar’s NFT
Buyers need to create a crypto wallet at Mahindra Gallery to participate in Thar NFT auction. The website enables mandatory KYC to be done before the commencement of bidding. In this, a unique ID of each customer will be created which will identify the customer as a bidder or potential buyer.
The bidder can complete the purchase transaction through the crypto wallet using normal INR which will need to be created before the bidding starts. As the owner of NFTs recorded on the blockchain, the buyer shall have the right to display and resell the NFTs.
Buyer can sell NFTs using their crypto wallet ID on any third party market that supports the Polygon platform. Mahindra & Mahindra will send an email to the highest bidder and will give 48 hours to make the payment and claim the NFT. If he does not claim ownership within 48 hours, the second highest bidder will be given a chance to claim ownership within 48 hours. According to Mahindra’s NFT website, the highest bid for NFTs can be found at Rs 2.15 lakh, while the bidding starts at Rs 1 lakh.
What is NFT?
NFT stands for Non Fungible Token. NFT is the same crypto token as bitcoin or other cryptocurrencies. NFT is a type of unique digital asset that generates value. For example, if two people have bitcoins, they can exchange them. NFTs can be found in digital assets such as digital art, music, films, games or any collection.
Because these are unique art pieces and each token is unique in itself, they cannot be exchanged. This digital token receives a valid certificate of ownership. Any person whose art falls in this category, his art gets a certificate of ownership. A digital certificate ensures that it cannot be duplicated, giving the owner the right of copyright.
NFT amount will be spent in social welfare
Mahindra & Mahindra has decided to spend the money raised from NFTs in the ‘Little Kali’ campaign. It is a project launched to support the education of underprivileged girls in India. Mahindra has decided that the company will help the girl child fulfill their dreams through education.
The winners of the auction will be invited to the Mahindra Adventure Off-Road Driver Training Academy (Igatpuri, Maharashtra) or the new Mahindra SUV Proving Track (MSPT, Chennai) to experience the thrill of 4×4 motoring. MG Motors has also issued its NFT before Mahindra.