Hyundai Becomes First Automaker to Announce Community-Based NFTs

Hyundai Motors, the Korean automobile giant has announced its entry into online community-based non-fungible token (NFT) space in a bid to improve its brand experience and build a consumer community. Hyundai is collaborating with Meta Kongz NFT that helped develop the NFTs and is the first automaker to enter the NFT market with its own NFT community with a dedicated website — scheduled to open soon in May — and channels on Discord and Twitter that are already live.

Hyundai released a short film introducing the "Metamobility Universe," the carmaker's NFT universe concept that was first unveiled at the Consumer Electronics Show in January. The film, featuring Meta Kongz, a popular NFT gorilla character, visualised how mobility solutions can transcend time and space.

To commemorate the release of the film, the company will launch 30 limited edition ‘Hyundai x Meta Kongz' NFTs on April 20. After this, Hyundai Motor plans to continue expanding its NFT Universe, directing the proceeds to the project's management and community members.

There are other global carmakers such as Lamborghini, Mercedes-Benz, and McLaren that have issued NFTs already. These carmakers‘ NFTs are basically exotic and luxury cars created virtually and sold in limited numbers for collectors. But Hyundai Motor is the first to create community-based NFTs that allows owners to become part of the metaverse community Hyundai has created.

"The Hyundai NFT Universe will extend the Hyundai brand experience, especially with MZ generation (a term that encompasses millennials and Generation Z), in a completely new way, further reinforcing our commitment to innovation in both the real world and in the metaverse," said Thomas Schemera, Hyundai Motor's Global Chief Marketing Officer and Head of Customer Experience Division. "We are extremely excited to introduce 'Metamobility' through our own NFTs and start this journey with 'Meta Kongz'."