Škoda Auto Enters the NFT Race With Škodaverse India "Just like a Škoda, we believe the NFT collections will inspire you, spark your curiosity, and get you to explore the new and the better," read the official website. The date of the first collection drop is yet to be announced.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Škoda India

Škoda Auto has officially joined the likes of fellow global brands such as Nike, Adidas, Walmart, Louis Vuitton, and Hyundai by unveiling its own Metaverse- Škodaverse India.

The Czech automobile manufacturer took to Twitter to share the news with its audience, "We are thrilled to announce our official entry into the Web3 space."

The platform will give the users an opportunity for exploring, collecting and owning unique digital art pieces. The NFTs will be minted on carbon-neutral blockchains, aligning with the automobile maker's sustainable vision. The NFTs will have a lower gas fee, will be interoperable, and eco-friendly.

The price of a Škoda NFT will depend upon the rarity, demand and marketplace. Owners of the NFT will have access to exclusive perks, rewards, and experiences.

"Skodaverse India signifies the brands leap into uncharted digital territory. It's not just about creating extraordinary digital assets, it's about forging deep connections with a community that shares an unwavering passion for the brand and its initiatives in India. It also showcases our commitment to sustainability and innovation, through leveraging carbon-neutral blockchain technology that enables secure, transparent. and decentralized transactions," shared Christian Cahn von Seelen, Executive Director, Sales, Marketing and Digital, Škoda Auto Volkswagen India.

"Just like a Škoda, we believe the NFT collections will inspire you, spark your curiosity, and get you to explore the new and the better," read the official website. The date of the first collection drop is yet to be announced.

Paromita Gupta

Entrepreneur Staff

Freelancer

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business News

United Airlines Says It Is Adding Extra Flights in Case Spirit 'Suddenly Goes Out of Business'

Rival airlines, including United and Frontier, are adding new routes as Spirit cuts 12 cities from its schedule.

Business News

Gold Prices Are Higher Than Ever. Here's How Much a Costco Gold Bar Purchased in 2024 Is Worth Today.

A one-ounce Costco bar is worth $870 more now than it was a year ago.

Leadership

The Difference Between Entrepreneurs Who Survive Crises and Those Who Don't

In a business world accelerated by AI, visibility alone is fragile. Here's how strategic silence and consistency can turn reputation into your most powerful asset.

Leadership

Can Startup Founders Become Great CEOs? Here's What It Takes.

Startup founders CAN evolve into outstanding CEOs — rather than being replaced by them. Here's how.

Business News

Mark Zuckerberg 'Insisted' Executives Join Him For a MMA Training Session, According to Meta's Ex-President of Global Affairs

Nick Clegg, Meta's former president of global affairs, says in a new book that he once had to get on the mat with a coworker.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.