Hyundai Will Be the First Automobile Manufacturer to Enter the NFT Market

The Hyundai brand will collaborate with the Meta Kongz NFT brand.

The automaker will also create an NFT community on social media platforms such as Twitter and Discord.

The idea of "Metamobility" was unveiled at CES 2022.

It's no surprise that everyone wants to be a part of the NFT and Metaverse area, and the newest to join is a company from a completely different business than the others.

Hyundai Motor, one of the top ten automakers in the world, has revealed its intention to join the NFT market in a variety of innovative methods.

Hyundai and NFTs

The firm will collaborate with the 'Meta Kongz' NFT brand to develop its own line of NFTs as well as a concept film. Hyundai created a short video showcasing the Hyundai NFT universe idea 'Metamobility Universe' in the search of uniqueness.

The video serves as a presentation for the company's Metamobility Concept, which was unveiled at the CES 2022 (Consumer Electronics Show).

According to the announcement, Thomas Schemera, Hyundai Motor's Global Chief Marketing Officer and Head of Customer Experience Division, said, "The Hyundai NFT Universe will extend the Hyundai brand experience in a completely new way, especially with the MZ generation, further reinforcing our commitment to innovation in both the real world and the metaverse." We're really happy to start this adventure with 'Meta Kongz' and present 'Metamobility' via our own NFTs.

The business plans to launch a separate Hyundai NFT website as well as social channels on Discord and Twitter to build its NFT community.

Hyundai will also offer 30 limited edition 'Hyundai x Meta Kongz' NFTs on April 20 to honor the debut of the concept film. This year, the team plans to extend Hyundai's NFT Universe even further.

The Rise of NFTs?

This year, the market has seen a slew of new NFT collections arrive, and the number continues to climb as more brands join the field via various partnerships.

But, although they view this as a chance to expand, the issue is if this space is expanding or whether the NFT bubble is about to burst.

According to statistics from Ethereum's NFT marketplace Opensea, traffic has been increasing over the previous several days. There was a little drop in sales last week, but things are looking up now.

However, if these sales are ever to approach their previous high of $4.9 billion, they will need to expand dramatically.

Although the bubble may not be collapsing, the monthly drop in trading volume and sales suggests waning enthusiasm.