MakeMyTrip, the popular Indian travel company, has decided to launch limited-edition non-fungible tokens (NFTs), the artwork for which, the company claims, has been conceptualised and designed to commemorate some of the popular and unexplored travel spots in India. The NFTs are aimed at giving travellers a chance to own digital collectibles of their favourite destinations, the company said. The first batch of these artworks will have the landscapes of Goa, Ladakh, Orissa, Himachal, Kashmir, Kerala, Meghalaya, Rajasthan, and Andamans in them.
Conceptualised and designed by AI Bots, an online community of digital artists, each artwork had been designed using Generative Adversarial Networks (GANs), a tool that requires the creator to upload several images and train AI algorithms in order to generate a realistic depiction of the final artwork.
Priced upwards of Rs. 14,999, MakeMyTrip has launched 25 tokens for each artwork, available for grabs on a first-come-first-serve basis. Minted on the Polygon blockchain, the NFTs can be accessed through MakeMyTrip’s website and bought on ngageN starting March 9.
MakeMyTrip claims it will pass on the proceeds from the sale of these NFTs to support projects focusing on promoting sustainable tourism in the country.
“The NFTs are a confluence of new-age technology with the world of travel as it captures the beauty of some of the exotic locations of India. We are offering travel enthusiasts a never-before chance to be owners of this beauty in the digital domain,” said Sunil Suresh the group’s chief marketing officer in a statement to Mint.
Praphul Chandra, founder, KoineArth, said, “With the launch of their NFTs, Indians around the world can digitally own the beauty of India, make it part of their personal legacy and even gift it to their loved ones. The artwork of NFTs is a great example of how brands-with-a-purpose are working with digital artists to create art that captures their spirit.”
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
