Czech automobile conglomerate Škoda Auto launches NFT platform

Škoda India Collaborates with Near Protocol to Introduce Škodaverse India

On June 20, the Indian arm of Czech car manufacturer Škoda Auto, Škoda India, collaborated with Near Protocol to introduce a Web3 and non-fungible token (NFT) experience called “Škodaverse India.” According to developers, the platform will feature low gas fees, interoperable NFTs that can be employed across various platforms, and eco-friendly, scalable NFTs. The company declared:

The Škoda NFT collection is set to be released “soon,” without a definite date or cost. When it is released, users will be able to obtain the NFT by adding funds to their wallets.

Benefits associated with NFT holders, as specified by developers, encompass the ownership of one-of-a-kind digital assets depicting Škoda’s artwork or collectibles, the potential for an increase in value over time, and access to special privileges, rewards and experiences that are only available to NFT owners. Trading is supported through both fiat and cryptocurrency. Furthermore, developers pointed out that the NFT platform is the company’s first venture into Web3: “We are now entering the Web3 space and invite you to join us in discovering, gathering and possessing exclusive digital art pieces.”

Background of Škoda Auto

Established in 1925 in what was formerly Czechoslovakia, Škoda was a major industrial producer in interwar Europe until it was nationalized in 1948. After the fall of the Czechoslovak Communist government in 1990, the company became a subsidiary of Volkswagen, a German automotive firm. Its car brand is popular in Central and Eastern European countries, with 731,000 vehicles delivered in 2022.

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