Royal Enfield launches NFTs: Priced at Rs 15,000 | The Financial Express

Royal Enfield launches NFTs: Priced at Rs 15,000

Royal Enfield has announced its entry into the NFT space with the launch of its Non-Fungible Tokens featuring ten winning artworks from its ‘Art Of Motorcycling’ program. These NFTs have been priced at Rs 15,000 each.

Royal Enfield launches NFTs: Priced at Rs 15,000
Royal Enfield launches NFTs: Priced at Rs 15,000

Chennai-based Indian two-wheeler manufacturer, Royal Enfield, has entered the NFT space. The company has announced the launch of its NFTs (Non-Fungible Tokens) featuring ten winning artworks from its ‘Art Of Motorcycling’ program. The top 10 winning designs from seasons 1 and 2 of ‘Art Of Motorcyling’ will be featured as Royal Enfield’s very first NFTs.

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According to Royal Enfield, while art has been an intrinsic part of its culture where motorcycling is a form of self-expression, the ‘Art of Motorcycling’ program has grown to become a movement on its own. Royal Enfield will be listing ten digital collectibles, priced at Rs 15,000 each, in an Ethereum-based NFT marketplace ‘Foundation’. The NFTs will be accessible to anyone across the globe, post registration on the platform.

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Royal Enfield says that the proceeds from the sale will go to the artists of the winning designs. Speaking about this unique campaign, Puneet Sood, Global Head of Apparel Business at Royal Enfield said, “Art Of Motorcycling is intended to give designers, artists, illustrators and motorcycling enthusiasts a platform to illustrate their love for motorcycling.”

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He added, “We are extremely proud to take this to the next level in the digital space, as we announce the launch of Royal Enfield’s first-ever NFTs to encourage this ever-growing community scale to new heights. With this launch, art created by our community can now be appreciated globally. Our first set of NFTs will feature winning artworks from the past two seasons of Art Of Motorcycling, proceeds from the sales of which go to the artists directly.”

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