– Royal Enfield launches NFTs
– Priced at Rs 15,000 (185.25) USD
– Based on 10 winning artworks
Royal Enfield has introduced new NFTs that have been inspired by its Art of Motorcycling program. A total of 10 artworks have been selected for this and will go on sale.
NFTs means non-fungible tokens and are unique cryptographic tokens which work on block chain technology. Each of these tokens has digital information stored on them and Royal Enfield will list these NFTs on a marketplace called ‘Foundation’. In order to access these NFTs, you will need to be registered and have a wallet setup.
Royal Enfield is selling each of these tokens for Rs 15,000 (185 USD) and the proceeds of the sale will go to the artists of the design. While you would own the token and could be sold at whatever price in the future, the copyrights for these NFTs will be held by Royal Enfield.