The latest entrant into the metaverse is set to be the Korean subsidiary of car manufacturer Renault. The brand has partnered with The Sandbox to offer its customers a virtual automotive experience, in keeping with the times.
The French automaker wants its customers to be able to experience its vehicles in Web3.
The Renault Sandbox Universe
“The partnership would build around offering new types of experiences that combine automobiles and digital assets in The Sandbox,” said Cindy Lee, CEO of The Sandbox Korea.
Although the carmaker did not reveal any additional details, it said it was looking to capitalize on the opportunities presented by the metaverse to power next-generation machinery. The Sandbox, an Ethereum-based metaverse, will bring the brand closer to its customers.
The Korean subsidy of the carmaker wants to expand its presence through a series of images. Lee said, “This partnership is an excellent example of a collaboration. The Sandbox can develop without any industrial boundaries. “
The carmaker has not disclosed the full extent of the partnership or how they hope to use this to power next-generation machinery.
Automakers’ Meta Strategy
The term metaverse describes how we interact with the digital and physical world, and is built on augmented and virtual reality. With the potential to change everything from surgery to education, the virtual reality market is expected to reach $454.73 billion by 2030, with a CAGR of over 40%.
Automakers have started positioning their products in the metaverse to appeal to the tech-savvy generation.
Last month, Japanese automaker Nissan admitted that it is looking to the future to create new memories involving its cars and customers. For the launch of its all-electric mini vehicle, the Nissan Sakura, it created a metaverse that enabled users to virtually test drive the car and even charge the EV. The special world was called the Nissan Sakura Driving Island for VRChat users and was created based on real world data. In addition to driving around, users could also explore the island, which had different seasons that reflect the four colors of the Sakura, along with parts of Japanese culture.
Hyundai has already entered the virtual reality space with the Zepeto metaverse platform in May. The platform will offer virtual future mobility experiences and be operated by Naver. It is already extremely popular among millennials and Gen Z, as it gives them space to freely express themselves. The virtual Motorstudio within Downtown Zepeto will comprise a set of future mobility experiences, including S-A1 advanced air mobility, S-Link purpose-built mobility, and S-Hub future mobility transit center.
In April, Volkswagen launched an advertising campaign called “Game On” wherein users looked for NFTs in the metaverse. The perfect blend of storytelling and interactive media, Volkswagen used the platform to highlight the features of its latest Polo model, the IQ.DRIVE.
Bridget Harpur, head of marketing for Volkswagen Passenger Vehicles acknowledged that the campaign helped bring interaction and entertainment together. “We’re really proud of our gamified and immersive campaign since it produced exceptional consumer impact while moving Volkswagen and its audience into a new universe,” she added.
Luxury Italian carmaker Ferrari already has plans in place to capitalize on virtual reality, gaming, NFTs, and blockchain. CoinYuppie reports that in 2021, Ferrari partnered with Epic Games to bring the 296 GTB to the hit game Fortnite. Lamborghini, on the other hand, launched its own NFT project titled Space Time Memory. The digital artwork depicted a car flying towards space and wowed fans and critics alike.
Analysts predict that in the coming five years, almost 75% of all vehicles sold will be embedded with blockchain technology.
