The Sandbox and Renault to Offer Web3 Automotive Experiences
According to a joint statement from The Sandbox metaverse and Renault Korea Motors, the partnership aims to provide customers with automotive experiences that have undergone a significant digital transition because of key blockchain developments like connectivity and Web3-based solutions.
Cindy Lee, the CEO of The Sandbox Korea, stated,
"The partnership would build around offering new types of experiences that combine automobiles and digital assets in The Sandbox."
A Virtual World For Renault
The high-end Korean automaker claims it is committed to utilizing the opportunities made possible by the virtual world to fuel next-generation machines. It will also concentrate on virtual reality, gaming, NFTs, and blockchain. By creating and allowing ADAS technologies in their vehicles, Renault joins other automakers like Ferrari, Mercedes-Benz, Virtual Porsche, and BWM.
Users may now buy virtual land to create their virtual world thanks to the active promotions by The Sandbox of its investors, developers, and partners to be more creative. The Sandbox has said it will introduce a play station by the end of 2023, with 5,000 games. Additionally, they have established virtual employment opportunities within the games.
Introduction of Automotive Firms in Metaverse
The introduction of automotive firms into the Metaverse through collaborations has given automobiles a new lease on life and allowed customers to appreciate the growth and marketplace of virtual worlds by using Web3 technology to evaluate present and future advantages.
Automakers are increasingly turning to these linked experiences to distinguish their services, grow their market share, and bolster their respective brands. Analysts project that by 2027, approximately 75 percent of all vehicles sold will have built-in blockchain connections. The Sandbox, which has a market capitalization of $1.39 billion, is third in the crypto Metaverse, behind Decentraland and ApeCon.