MakeMyTrip Launches NFTs To Reimagine Tourism

ndtv.com:

MakeMyTrip Launches NFTs To Reimagine Indian Tourism

MakeMyTrip, the Indian online travel company, is the latest entrant into the world of Non-Fungible Tokens (NFTs). The company has launched a limited-edition immersive NFT series, which showcases some of the best-known travel destinations in India. 

The NFT series, titled 'Virtual Vacations', will be available on a first-come, first-serve basis, and there will only be 25 owners of every NFT art piece, the company stated on its app.  

The first batch of collectables captures the seen and unseen beauty of Goa, Rajasthan, Odisha, Meghalaya, Ladakh, Jammu and Kashmir, Andaman and Himachal Pradesh. At the time of writing, the NFT art pieces depicting Goa, Ladakh and Kashmir - 3 of India's most prominent tourist destinations - were already sold out. 

The proceeds from the sale of these NFTs will support sustainable tourism projects in India. 

The NFT art collection is 'immersive' since each digital art is a kaleidoscopic meta-representation created through Artificial Intelligence and iterative loop programming. 

"These NFTs are in line with our overall marketing and communication objective of inspiring every Indian to discover and explore the majestic beauty of India," MakeMyTrip Group Chief Marketing Officer Sunil Suresh said. 

The NFT collection comes at a time when the global pandemic has disrupted the tourism and hospitality sector in India. The Union government recently informed the Parliament that 21.5 million people involved in the tourism industry had lost their jobs due to the Covid-19 pandemic. Moreover, the government added that tourist arrivals in India were also drastically low during the pandemic.  

NFTs, for those unfamiliar with the concept, are one-of-its-kind