Skoda Auto, a rapidly expanding car manufacturer in Europe, ventures into Web3 with its inaugural metaverse endeavor, called Skodaverse.

This innovative project was developed on the Near protocol. Within India, Škoda Auto engages through its subsidiary, Škoda Auto India Pvt Ltd. It has maintained a significant presence since November 2001.

The platform’s developers assert that it will have reduced gas fees and facilitate interoperable NFTs for cross-platform usage. Additionally, it will offer environmentally friendly and scalable NFTs. 

The company expressed that Skodaverse India will unveil exclusive utilities and experiences for NFT holders. Skoda will disclose further information alongside the initial release particulars. Furthermore, the company highlighted its commitment to sustainability by ensuring that all NFTs will be created on carbon-neutral blockchains.

The company declared that they intend to initially limit the minting of their NFTs to their platform’s account holders. Once users create an account, they can mint the NFT by depositing funds into their wallets when it becomes available. 

Developers have outlined several advantages for NFT holders, encompassing the ownership of NFTs that represent Skoda’s artwork or collectibles. 

The company has highlighted the potential for the value of these assets to appreciate over time. There is also an option to resell them in the future. Furthermore, NFT holders gain access to exclusive perks, rewards, or experiences specifically linked to their ownership of NFTs. 

Trading can be conducted using either traditional fiat currencies or cryptocurrencies. The developers have expressed that their foray into the Web3 space through the NFT platform signifies the company’s inaugural venture. They invite individuals to participate by exploring, collecting, and possessing these exceptional digital art pieces.