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Renault Korea Taps The Sandbox Metaverse For Virtual Web3 Automobile Experience

9/5/2022

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The Sandbox Metaverse and Renault Korea Motors unveiled a partnership on Monday geared towards offering virtual automobile experiences by leveraging blockchain technology and Web3-based solutions. 
Renault Korea Motor is South Korea’s local subsidiary of Renault SA, one of the world’s biggest car makers based out of France. Renault now joins a growing list of automobile giants like Mercedes Benz and BWM leveraging Web3 solutions for operations like supply chain management and carbon emissions. 

Monday’s announcement revealed that the partnership would build around offering “new types of experiences that combine automobiles and digital assets in The Sandbox”, said CEO of The Sandbox Korea Cindy Lee. However, the medium blog post did not share further details on such plans.
The agreement also features digital marketing collaborations for Renault Korea, per the statement shared. 

The Sandbox Metaverse 
At press time, The Sandbox (SAND) is the third largest crypto metaverse project with a $1.39 billion market cap. The top two positions are held by Decentraland (MANA) and ApeCoin (APE).
Indeed, The Sandbox Metaverse has reportedly continued to bolster its spot despite declined crypto token prices. EthereumWorldNews reported that the project planned to raise $400 million at a $4 billion market valuation back in April 2022. The Sandbox Metaverse boasts reputable backers like Animonica and SoftBank.
Notably, Dubai’s crypto regulatory body VARA announced its metaverse debut in The Sandbox. Banking behemoth HSBC also acquired land in the project’s virtual reality. 
While crypto assets and NFTs have grown into recognized industries in the broader blockchain ecosystem, the metaverse remains largely untapped, per reports. A MarketWatch report opined that blockchain-powered virtual reality could become an $800 billion industry by 2024.

Full story here

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  • Home
  • News
  • ShortListed Companies
    • Nomination: AI Use Cases
    • Nominations
      • Top Global Event
      • Top Metaverse Platform & Virtual World
      • Top VC or Accelerator
      • Top Blockchain Developer Services Provider
      • Most Impactful Marketing Advertising Campaign
      • Most-promising Corporate VC Investment
      • Top Corporate Partnership
      • Top Legal Firm for Metaverse/Web 3.0 businesses
      • Top Avatar Design Company
      • Top Digital Twin Initiative Enterprise
      • Top Digital Twin Initiative Consumer
      • Top Cloud, Enterprise or Technology Partner
      • Top Partner for establishing early-stage presence in Metaverse
      • Most Innovative NFT Project
      • Top 3D Design Firm for Metaverse
      • Top Fashion Brand Initiative
      • Top Consumer Experience & Entertainment
      • Top Sports Brand Initiative
      • Top Enterprise Productivity initiative
      • Top Digital Payments platform
      • Most Exciting Scale-up Company
      • Top XR AR VR Firm
      • Most Exciting Hardware for Metaverse/Web3
      • Most Promising Haptics Initiative
  • 2023 Summit & Awards
    • VIP Jury
    • Agenda
    • Venue
      • Hotel Reservation
    • Tickets
      • Pay via Credit Card
  • Exhibitors
  • Contact
    • Sponsorship Options
    • FAQs
    • Brella Event App & Networking
    • 2022 Event
      • VIP Jury
      • Agenda 2022
      • Photos 2022
      • Videos 2022