- MakeMyTrip has announced a limited edition NFT collection of India’s most popular travel destinations.
- The Indian travel company said each collection contains 25 tokens, each priced at Rs 14,999 onwards.
- The art pieces are offered in collaboration with Ngagen, an NFT marketplace.
India’s leading online travel company MakeMyTrip has become the latest local brand to launch an NFT collection. The Gurugram company has announced limited-edition NFTs featuring clips of India’s most popular travel destinations.
According to the announcement, each artwork will contain 25 tokens available at Rs 14,999 onwards. MakeMyTrip has collaborated with Ngagen an NFT marketplace to offer the collection through its web page https://www.makemytrip.com/nft.html.
Commenting on the NFT drop, Sunil Suresh, MakeMyTrip’s chief marketing officer said the company was offering travel enthusiasts a unique opportunity to become owners of digital tokens representing some of India’s most beautiful tourist destinations.
The NFTs are designed using Generative Adversarial Networks (GANs). The AI tool requires the creator to upload several images, which it then turns into unique art pieces.
The first batch of the artworks includes landscapes of Goa, Ladakh, Orissa, Himachal, Kashmir, Kerala, Meghalaya, Rajasthan, and Andaman & Nicobar Island. The NFTs represent the culture and tourism of the states and regions.
Writing on its NFT page, MakeMyTrip said, “we proudly proclaim to be the first Indian travel brand to step into the NFT space,” adding that the purpose of the NFTs was to bring to life India’s unexplored beauty through artificial intelligence.
“Each NFT comprises a kaleidoscopic meta-world view of seen and unseen sides of India’s most acclaimed travel destinations,” the company wrote.
MakeMyTrip intends to pass the proceeds from the sale of NFTs to support projects focusing on promoting sustainable tourism in the country.
India’s take on NFTs has been relatively mixed with some online marketplaces like the Indie games online platform Itch.io dismissing them as a scam. On the other hand, the Indian government announced in January plans to tax NFTs at 30% recognising them as legitimate capital assets.
The world’s second-most populous country has witnessed a great degree of venture capital investment with Sequia India leading several funding rounds for locally based GameFi and NFT projects.
Short video NFT marketplace Chingari has been one of the beneficiaries of the influx of venture capital activity in the country, raising $15 million earlier this year.
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