• Audi announces NFT release on xNFT protocol

  • Audi has announced that it will be releasing a limited edition, non-counterfeitable token (NFT) through a partnership with xNFT

    German automaker Audi has joined the NFT market and will release its NFT series on August 10 with the help of xNFT. The latter announced that it will be casting Audi NFTs on the xNFT protocol.

    Audi teased a 15-second video with text in Mandarin as part of the release. The news also made the rounds on the Chinese platform’s Weibo account, sparking much joy in the cryptocurrency community. Audi to release limited edition NFT in association with FAW, Robo Report and xNFT

    xNFT claims to be the largest NFT protocol and an aggregation platform for unforgeable token systems. The company has forged strategic partnerships with Dark Horse, Digicenter, Larva and the EU CST. It has also received investments from a number of companies including Huobi Labs, Fundamental Ventures and Continue Capital.

    The automotive industry could be the next popular NFT niche, already overrun by the arts and sports world. Both as a general interest and as a sports industry, automobiles are well positioned for NFT adoption. Mattel has also announced an NFT line for its Windjammer line.

    NFT continues to attract big names

    NFTs are a real phenomenon that is here to stay with multiple support from celebrities, artists and companies. The technology has made its way into the arts, sports, gaming and celebrity culture because everyone wants a piece of the action.

    NFT is the easiest of the blockchain-based technologies to understand because it is easy to grasp the idea of holding unique assets. It’s worth the same amount as rare collectibles and the retail market has been eating it up.

    The widespread adoption of NFT has reached the point where even Shopify allows direct NFT purchases. As one of the most popular online shopping solutions, this has the potential to attract a staggering number of buyers.

    Tether’s co-founder believes that “all consumer brands will have NFTs.” Even Kevin O’Leary of Shark Tank’s, who is skeptical of Bitcoin, says that NFTs will have a big role to play. Considering the amount of money coming in, this looks almost certain.

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