On Monday, automaker Renault Korea Motors and Sandbox Metaverse jointly launched a new partnership to support their customers’ unique digital experiences by harnessing the power of emerging technologies.
Metaverse Sandbox and Renault Korea Motor said in a statement that the partnership aims to deliver automotive experiences that have undergone a huge digital transformation driven by key blockchain trends such as connectivity and web-based solutions3.
“The partnership would revolve around delivering new types of experiences that combine automobiles and digital assets in The Sandbox,” said Cindy Lee, CEO of The Sandbox Korea.
Renault enters the virtual world The SandBox
The Korean luxury automaker says it is committed to taking advantage of opportunities created in the virtual world to power next-generation machines and will focus on virtual reality, games, NFTs and Blockchain. Renault joins other automakers like Ferrari, Mercedes-Benz, Virtual Porsche and BWM who have made great strides in adapting to Web3 solutions technology by developing and enabling ADAS functionality in their cars.
“This partnership is a great example of a collaboration that The Sandbox can develop without any industrial boundaries,” said Cindy Lee, CEO of The Sandbox Korea.
Sandbox aggressively engaged its partners, investors and developers to be more innovative and enabled users to purchase virtual land to build their own digital world. So far, The Sandbox also plans to launch a gaming station that will create 5,000 games by the end of 2023. They have also created in-game jobs that allow people to work virtually.
The entry of automakers into the metaverse through partnerships has given cars new hype and enabled customers to understand the development and market of virtual worlds by applying web3 technology to assess the current and future benefits of virtual worlds for the “real world”. companies.
Analysts predict that by 2027, nearly 75% of all vehicles sold will come with built-in blockchain connectivity, so automakers are increasingly turning to these connected experiences to differentiate their offerings, increase their market share and strengthen or enhance their respective brands.
A market watch report placed The Sandbox third in the crypto metaverse, with a market capitalization of $1.39 billion after Decentraland and ApeCon.
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