Ethereum-based gaming metaverse, The Sandbox, announced today that it has partnered with automaker Renault Korea Motors to offer automotive services in the metaverse.
Founded 27 years ago, Renault Korea Motors is the South Korean subsidiary of Renault SA, one of the biggest automakers in the world by production volume. Renault offers a range of cars, including electric models and crossovers
The Sandbox Partners Renault Korea Motors
As part of the partnership, Renault Korea will be able to provide its users with new ways to experience cars in the virtual space. Additionally, the automaker will launch marketing campaigns with various brands on The Sandbox platform.
Both parties are also planning to build a long-term relationship to attract potential users, especially young individuals who are familiar with the digital world.
“This partnership is an excellent example of a collaboration The Sandbox can develop without any industrial boundaries. We are able to introduce new types of experiences that combine automobiles and digital assets in The Sandbox,” Cindy Lee, CEO at The Sandbox said.
Also commenting on the development, Renault Korea CEO Stephane Deblaise said:
“The new digital journey that our company is preparing is intended to provide clients with an expanded brand experience and familiarize them with the brand.”
Major Firms Adopt the Metaverse
Renault has now joined a host of other big entities that are jumping into the metaverse to build innovations and features to create new experiences for users.
Earlier this year, global financial services provider HSBC entered the metaverse after partnering with The Sandbox. Two months ago, South Korean-based commercial bank KEB Hana Bank also partnered with The Sandbox to open a virtual branch in the metaverse.
In April, Emirates, a Dubai-based international aviation company, revealed plans to launch NFTs and experiences in the metaverse.
Other major companies to have entered the metaverse include Adidas, Gucci, Samsung Group, Balenciaga, and Louis Vuitton.
Meanwhile, according to data revealed by investment bank Citi, the metaverse market cap could be worth more than $13 trillion by 2030.
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