Online travel company MakeMyTrip has entered world of NFTs with the launch of limited-edition non-fungible tokens (NFTs). The idea is for travellers to own digital collectibles of their favourite destinations, the company said. The first of the digital artworks being rolled out are landscapes of Goa, Ladakh, Orissa, Himachal, Kashmir, Kerala, Meghalaya, Rajasthan, and Andamans. The artworks have been designed with Advanced AI Generative Adversarial Networks (GANs) wherein the AI tool is uploaded with several images and trained to produce realistic, creative, and unique images, said the company in a statement.
The artworks have been conceptualised and designed by AI Bots, an online community of digital artists, 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. "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.
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MakeMyTrip has launched 25 tokens for each artwork - these are priced from Rs14,999 onwards, and are available 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.
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."
The proceeds from the sale will support projects that promote sustainable tourism in India.
