The business sector has seen some terrible times amidst the recent COVID-19 pandemic. So it is great to see the economy and businesses slowly getting back to speed like normal. A part of normalcy is the first occurrence of notable events and one such “first time” occurred in India when a company gifted its employees NFTs.
This is the first time in India that a company has taken such a futuristic and innovative step. ORAI Robotics, a conversational artificial intelligence company, unveiled a creative and exciting long-term plan to celebrate the company’s success and acknowledge employees’ contribution towards this success with the help of NFTs.
On March 15, 2022, ORAI Robotics said they gave their employees Non-Fungible Tokens (NFT) as a reward. The company has a workforce of more than 50. According to their announcement, the NFT marketplaces were validated and transferred to employees with a digital wallet.
The company itself took the initiative and facilitated the creation of digital wallets for each of its employees. ORAI Robotics also created and launched its first-ever NFT collection named ‘ORAI Upbeat’. This was specifically created for its employees.
About ORAI Upbeat: The Gift That Is Set To Start A Trend
The news of an Indian company giving its employees NFTs as a gift or reward had made for some news in the country. The company has done something which will inspire other firms towards similar lines of actions as well as more innovative thinking when it comes to regarding the efforts and contributions of their respective employees.
The act of giving NFTs to employees might also become a popular trend amongst companies that are willing to take the initiative as ORAI Robotics did. The company created an NFT collection named the “ORAI Upbeat.” This collection consists of more than 500 unique and newly minted NFTs exclusively made for employees and key stakeholders of the company.
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ORAI Robotics has also said that these collectibles in the ORAI Upbeat collection represent cheerful, optimistic, and happy robots designed to establish encouraging engagement in the world of the metaverse, the next big thing.
The entire ideation of the project was executed completely in-house by ORAI Robotics. However, the firm had also collaborated with Meta9corp.io for technical support. This collaboration helped make the first-of-its-kind “ORAI Upbeat” project a success.
Key Features Of This First-Of-Its-Kind Act
The best part about ORAI Robotics giving NFTs to its employees is the liberty the company has provided to its employees about how they want to use the NFT.
No Costs Attached
ORAI Robotics has clearly stated, “There is no cost to the NFT provided to the employees, It’s given to the employees. Therefore, it will be the employees’ decision to put it on auction.’’
Being the first-ever company in India to give corporate NFTs to its employees, the company has made it clear that the employees can store the NFTs. Alternatively, they can also flaunt their NFTs as a medal or badge of honor or certificate that they have received as an appreciation for their efforts or skills.
Not just that, the company has also given its employees the liberty to trade and transfer their NFT if they wanted to monetize them and earn from different NFT marketplaces.
Buy Back And Future Rewards
What was already a great initiative by ORAI Robotics when they gave their employees NFT has been bettered by the buy back option offered the company to its employees. The company has provided a buyback policy option to its employees, with which they can monetize the NFTs by returning them back to the company after a certain period of time. However, this has to be done adhering to certain preset terms and conditions of the company.
The company has also talked about an elaborate and long-term plan to celebrate organizational success and the achievements of its employees with NFTs, making NFT marketplaces a key part of the company’s cultural DNA.
The Mind Behind The “ORAI Robotics” Initiative: Paving The Road To The NFT Future
While speaking about this initiative, Swapnil Jain, Co-Founder, and CEO of ORAI Robotics said, “We at ORAI Robotics wanted to introduce a unique and innovative way to thank our employees who make this company awesome. And this is exactly why we ideated and minted a plethora of unique collectibles as NFTs under the theme ‘UpBeat’, and thereafter gave away one NFT from this collection to each of our employees.”
ORAI Robotics is taking proactive steps to integrate the corporate NFT marketplace culture. Its plans include free access to a range of training and events related to conversational AI, skill development, and other associated training programs for employees who will be holding the top NFTs marketplaces. This will definitely inspire other companies to take similar steps, integrating the NFT culture in the corporate sector.