Renault Enters The Metaverse Market by Collaborating With Sandbox

Renault’s Korean subsidiary has announced its partnership with the Sandbox to enter the Metaverse this Monday. With this alliance, Renault Korea is planning to give its clients virtual car experiences based on the Renault brand and establish its brand presence in the metaverse.  

Currently, the metaverse is a trending topic, especially among younger people, and trying the metaverse brings another level of experience to people. To attract more younger customers Renault has planned this collaboration. 

South Korea is actively accepting the Metaverse and cryptocurrency market as so many events and collaborations are happening there. Currently, the Korean city Busan is working on developing its own blockchain industry. 

Renault is a successful automobile business that is in business for more than 23 years now and has worked on so many projects. Collaborating with a sandbox which is an Ethereum-based metaverse platform will help Renault introduce their automobiles to the users in the metaverse where they can have the experience of automobiles. 

A number of automotive-related events will be used to create the brand’s presence in the market and promote the company’s products to digital consumers.

Renault South Korea stated that it was looking to make use of the possibilities given by the metaverse to fuel next-generation machines, even if the scope of the relationship and the nature of the virtual experiences were not fully disclosed. It will explore topics including blockchain gaming, virtual reality, and NFTs.

Renault Korea CEO Stephane Deblaise said, 

“The new digital journey that our company is preparing is aimed to give clients an enhanced brand experience and familiarize them with the brand.”

The Sandbox also added that both companies now intend to develop a long-term partnership to attract new consumers, particularly young people who are adapted to the virtual community.

Cindy Lee, CEO of The Sandbox Korea says that

“The cooperation would concentrate on delivering cutting-edge experiences that mix automobiles and digital assets in The Sandbox”

She further added that “This cooperation is a great illustration of the kind of cross-industry engagement that The Sandbox can foster”. 

What other companies like Renault have done the same? 

In April, Volkswagen launched the “Game On” marketing campaign, which asked users to look for NFTs inside a metaverse setting.

The Japanese carmaker Nissan used the metaverse to help in the introduction of the Sakura, one of their newest electric vehicles. The business created a virtual environment where prospective buyers could test-drive the vehicle and learn more about its features and shapes. Nissan said the experience gave them “a chance to interact with new audiences like never before.” Prospective buyers could virtually test drive the car and examine its characteristics.

According to analysts, nearly 75% of all newly sold vehicles will have integrated blockchain networking within the next five years.

In July, The Sandbox and LOTTE WORLD, South Korea’s biggest theme park, also teamed up. According to The Sandbox, it will make use of LOTTE WORLD’s content intellectual property rights to introduce international NFT games. The gaming platform also disclosed that its collaboration with LOTTE WORLD had the potential to offer a variety of experiences that might increase the space’s value.

People’s interest in the metaverse is increasing more and more with time, and such promotional strategies of providing car experience in the metaverse are going to increase it even more.  Metaverse is playing the biggest role in the gaming industry, by the end of 2023, the metaverse gaming platform also intends to release a PlayStation with 5,000 titles. It has already created in-game career options that allow for virtual work.

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