The world has now taken the form of a digital avatar. We are surrounded by technologies, artificial intelligence, digital currency, social media, you name it, and the world has it. To be honest, it is not the same world that it was 20 years ago; it has gone through a bewildering change.
Such is the effect that now currency has also turned digital. Many people are aware of blockchain technology. Yes, the one on that cryptocurrency uses. Blockchain technology has created a way where one can exchange their currency without a help of the government or a mediator.
Apart from cryptos, NFT is also dependent on blockchain technology. The market of NFT saw a sudden rise in the year 2021 and it still growing big. India also seems to be a part of this growth. Many Indian brands are launching their NFTs. In this article, we will talk about the Indian brands that have decided to step their foot in the industry and launch NFTs. Here are the top brands that are launching their NFT collection.
As the value goes up, heads start to swivel and sceptics begin to soften. Starting a new currency is easy, anyone can do it. The trick is getting people to accept it because it is their use that gives the “money” value. – Adam B. Levine
T-Series
Hindustan Times
MG Motor India
Tech Mahindra
Viacom18
What is NFT?
NFT, also known as Non-Fungible Tokens are a form of assets operating on blockchain that can be sold and traded. They have unique identification codes and metadata through which, they can be differentiated.
Unlike cryptocurrency, NFTs are unique and they don’t hold the same value as cryptos. Single crypto is equal with another, that’s not the case with NFTs. Each of the tokens is unique and has a different identity that cannot be transferred or exchanged like other assets.
The craze of NFT is increasing day by day, anything can be converted into NFTs like art, videos, song and others.
Why are Brands Launching NFTs?
Brands are focusing on the NFT industry now, and they are doing it rigorously to attain some of its benefits. Some of the reasons why brands are launching NFTs are:
- To provide a unique experience to the customers while telling the story of the brand.
- Through NFTs, brand awareness will increase as it is willingly giving a unique experience to its customers. This also increases the loyalty of the customers towards the brand
- With the help of NFTs, brands can also fulfil their social responsibilities and improve their reputation in front of the world by supporting charities with the income from NFT and helping struggling artists by asking them to create art and give them the exposure that they needed through the brand.
- Once the brand enters into the NFT marketplace, it will get recognition which will lead to an increase of interest for the brand in the mind of the general public.
Top Indian Brands Launching NFT
T-Series
T-Series is an Indian music record label and film production company that was founded in the year 1983 by Gulshan Kumar. It focuses on producing Bollywood music and pop music. T-Series is India’s biggest music label as it holds 35% shares of the Indian Music Industry.
After conquering the music industry, T-Series is now set to enter the NFT market. T-Series has decided to collaborate with Hefty Entertainment; a subsidiary of Hungama Digital Media has decided to launch NFTs for their films.
Films like ‘Bhool Bhulaiyaa’, ‘Aashiqui 2’ and the upcoming movie ‘Radhe Shyam’ are on the list of NFT drops. T-Series is set to provide money can’t buy experience to their NFT buyers by this new step.
Hindustan Times
An Indian English- Language Daily newspaper, Hindustan Times founded in the year 1924 and is operating in the nation for 98 years. The company was founded by Sunder Singh Lyallpuri and it is one of the most circulated newspapers in the country.
Hindustan Times is getting to enter the Web 3.0 realm and is, therefore, has decided to launch NFTs. These NFTs will include their original historic creative that was published by the newspaper under their banner of HT Timeless Token.
Some of India’s iconic moments have been witnessed by Hindustan Times and they have been captured in their historic creative sections. NFT is being launched by the brand, this way the customers can keep the historic moments with them by buying the NFTs, as they are being digitised. These tokens can be brought with the help of cryptocurrency and Fiat currency.
MG Motor India
The automobile manufacturer company is the Indian subsidiary of Chinese automobile manufacturer SAIC Motor and they are marketed under the British MG marque. MG Motor India was established in 2017 and started its journey in 2019 and now has over 1000 employees working for it.
MG Motor India has become the first carmaker in the country to launch its NFTs. It will launch 1111 units as its first collection. For any MG transaction, MG Motors will sell its NFTs through KoineArth’s NgageN platform and through this platform only they will introduce their first collection of NFT where customers can buy it.
Tech Mahindra
Tech Mahindra is an Indian Multinational IT company founded in the year 1986 by Anand Mahindra. It comes under India’s top 5 IT firms. The company has now decided to explore the NFT industry and will launch the NFT marketplace, their main aim is to give a platform to celebrities and creators to present their art and memorabilia in a digital form.
They are partnering with Mahindra & Mahindra and will be producing digital collectables which will then be sold on the NFT marketplace platform of Tech Mahindra.
Viacom18
Viacom18 is an Indian entertainment network; it was founded in the year 2007, it was a joint venture between Paramount Global and TV18. Various Indian channels are under Viacom18. Viacom 18 has decided to be a part of the NFT market.
Viacom18 has launched its NFT; it has gone with its first collection of 3013 tokens on 14th February 2022. One can find the tokens and can buy them from the marketplace created by Viacom18, Fullyfaltoonft.com.
One can find various ranges of digital collectables based on pop culture. The digital artworks will be inspired by popular Viacom18 shows like ‘Kaisi Yeh Yaariyaan’, ‘Bakra’ and others.
Reena
Conclusion
Many brands are using NFT as a part of their marketing strategy. Through this, the brands promise to provide its customers with a unique experience. It is a new way to engage with their customers and a new way to generate revenue. With the growing trend, it seems that NFT is here to stay and it's only a matter of time before all big brands will start exploring this market.
FAQs
Are NFTs popular in India?
Yes, the NFTs craze has entered India and many people are interested in it. Many Bollywood celebrities are also launching their own NFTs which explains its success.
What is the best NFT marketplace?
OpenSea, Axie Marketplace, CryptoPunks, NBA Top Shot Marketplace, Rarible, and SuperRar are some of the best NFT marketplaces.
How can I buy NFT from India?
First, you need to visit an NFT marketplace, add ether tokens to your wallet and then you can purchase your desired NFTs.
Source :- https://startuptalky.com/ Author :- Damini Bhandary Date :-March 21, 2022 at 12:00PM