Audi has announced that it will release limited-edition non-fungible tokens (NFTs) through cooperation with xNFT. Chinese media outlets reported the news.
German automobile manufacturer Audi has joined the NFT market and is set to release an NFT collection on Aug 10 with the aid of xNFT. The latter announced on Aug 8 that it would mint Audi NFTs on the xNFT protocol.
Audi teased a 15-second video with text in Mandarin as a part of the release. The news also made the rounds on the Chinese platform Weibo, sparking much delight among the crypto community. Audi will be jointly releasing the limited-edition NFT with FAW-Volkswagen, Robb Report, and xNFT
xNFT proclaims itself the largest NFT protocol and is an aggregator platform for the non-fungible token system. The company has formed strategic partnerships with Dark Horse, Digicenter, Larva, and the EU-China Science and Technology Committee. It has also received investments from Huobi Labs, Fundamental Ventures, and Continue Capital, among several others.
The automobile industry could be the next popular NFT niche that’s already been taken over by the art and sports worlds. Both as a general interest and as a sporting industry, automobiles are perfectly poised for NFT adoption. Mattel has also announced an NFT collection for its Hot Wheels series.
NFTs keep attracting big names
NFTs are well and truly a phenomenon that is here to stay, with multiple endorsements from celebrities, artists, and companies. The technology has found its way into the worlds of art, sport, gaming, and celebrity culture, as everyone seeks to get a slice of the pie.
NFTs are among the most accessible of blockchain-based technologies, as it’s easy to grasp the idea of holding a unique asset. It has value in the same way that rare collectibles do, and the retail market has been eating it up.
The general adoption of NFTs has reached the point where even Shopify allows NFTs to be bought directly. As one of the most popular online shopping solutions, this has the potential to draw in a staggering number of buyers.
Tether’s co-founder believes that “all consumer brands will have NFTs.” Even Shark Tank’s Kevin O’Leary, who has been skeptical about bitcoin, says that NFTs will have a big role to play. Given the amount of money flowing in, that looks all but certain.