TOGG, Turkey’s Automobile Joint Venture Group, has unveiled a pioneering digital asset wallet that connects mobility technology to the Avalanche Blockchain. According to the company’s statement, the wallet offers bank-grade security and a range of capabilities, including the ability to serve as a “Smart Device Passport” to track service history and valuable parts, record carbon emissions, and facilitate insurance claims and supply chain authentication through smart contracts.
TOGG is a Turkish automotive company founded in 2018 as a joint venture between Anadolu Group, BMC, Kök Group, Turkcell, Zorlu Holding, and TOBB. It was established with the goal of producing domestic cars in Turkey. In 2021, Anadolu Group, Turkcell, and Vestel increased their investment in the company, bringing the total capital to almost ₺1 billion. The company made its international debut at the CES 2022 event in Las Vegas in January 2022.
TOGG’s partnerships with Ava Labs
TOGG entered into a partnership with Ava Labs, a blockchain platform, in June 2022 to develop and launch secure mobility services on Avalanche. Ava Labs is known for its fast, technologically innovative platform. TOGG’s CEO Gurcan Karakas stated that the firm is working to create an open ecosystem for all users of its smart devices and digital products with the goal of enhancing the mobility experience through its digital asset wallet.
In addition to the digital asset wallet, TOGG is launching an NFT marketplace on Avalanche, allowing users to buy, sell, and trade a diverse array of NFTs, including art and collectibles. The NFT marketplace can be accessed through the digital asset wallet and features an “Art Mode” that adjusts the car’s ambiance to match the NFT artwork displayed on the wallet.
TOGG’s Avalanche-based solutions will also enable users to rent various forms of transportation, including cars, scooters, and parking spots, through a single platform. Payments for each step of the journey will be securely automated through smart contracts with the digital asset wallet.