Electric Vehicle Maker Nio Launches NFT For Employees

Nio, the Chinese electric vehicle maker, is following in the footsteps of competitor Tesla, which entered the world of cryptocurrencies last year by purchasing bitcoin and subsequently adopted Dogecoin to buy goods on its online store. Nio gives brooches to its employees every year to celebrate the growth of the company, but this year the company launched NFT digital brooches.

The theme of the brooch this year is "Hello Norway". The brooch was designed by renowned jewelry designer Thomas. V and is inspired by the northern lights. Nio will distribute the physical and digital versions of the NFT brooch to its employees through a lottery as only 15,500 pieces were released, the report said, citing information shared by Weibo bloggers.

The Nio NFT launch came just a few weeks after the company revealed it was "not involved" with cryptocurrencies. Notably, the release of the Nio NFT is happening even though China has banned the trading of cryptocurrencies and NFTs.

Image: Business Insider Australia