Indian Koda Partners With Near Protocol, Launches Web3 Platform And NFT "India's Kodaverse"

The Auto code, launching Web3 and nonfungible token (NFT) experiences in partnership with Near Protocol. (photo: twitter @SkodaIndia)

JAKARTA - On June 20, India's captain, a subsidiary of the Czech Republic automotive conglomerate, waykoda Auto, launched Web3 and nonfungible token (NFT) experiences in partnership with Near Protocol.

Named "Indian Kodaverse," the developer stated that the platform will have low gas costs, interoperable NFT for use on multiple platforms, as well as environmentally friendly NFTs that can thrive on scalability.

We are thrilled to announce our official entry into the Web3 space. Škodaverse India is LIVE now! Discover, explore and create your account here: https://t.co/hNy0fY1eGQ Together with @NEARProtocol, we're paving the way towards a decentralized future.#Skodaverse pic.twitter.com/0uIVYZjoxz

— Škoda India (@SkodaIndia) June 20, 2023

We are thrilled to announce our official entry into the Web3 space. Škodaverse India is LIVE now! Discover, explore and create your account here: https://t.co/hNy0fY1eGQ Together with @NEARProtocol, we're paving the way towards a decentralized future.#Skodaverse pic.twitter.com/0uIVYZjoxz

"India's Kodaverse will also open up special utilities and experiences for NFT holders to be disclosed along with the details of the first launch. All NFTs will be printed on an environmentally friendly blockchain, in line with our vision of sustainability," the company said, quoted by Cointelegraph.

The first NFT collectibles are scheduled to be launched "soon," without a fixed date or a specified bid price. Users will be able to print NFTs when they are available through additional funds to their wallets.

Benefits for NFT holders, as listed by developers, include having unique digital assets that represent artwork or collections of Badminton, potential "value appreciation" and future resales, as well as access to profits, gifts, or exclusive experiences related to NFT ownership. Trading is available via fiat and cryptocurrency.

Developers also state that this NFT platform is the company's first attempt on Web3. "We are entering Web3 space and inviting you to join us by exploring, collecting, and owning unique digital artwork," said the developer.

Founded in 1925 in what was thenCOMing into AFRICA, chemkoda was one of the largest industrial producers in Europe in the interwar period to become a state-owned company in 1948. The company gradually became a subsidiary of German automotive manufacturer Volkswagen after the collapse of the Czech communist regime in 1990.

Car brands are popular in countries in Central and Eastern Europe, with a total of 731,000 car shipments by 2022.