Renault Korea to Offer Digital Experiences in The Sandbox

Credit: The Sandbox

The Korean subsidiary of Renault, an automotive company based in France, has partnered with The Sandbox to offer digital automotive experiences. The activities may focus on virtual reality, NFTs, and the blockchain.

Through the partnership, Renault Korea will focus on creating more ways users can experience vehicles in the metaverse space. The plan is to allow Renault to foster relationships with potential customers, especially those who are familiar with the digital space.

Cindy Lee, the CEO of The Sandbox Korea, said in a blog post that the partnership is “an excellent example” of how the metaverse can operate outside of traditional industry boundaries. Through its technology, The Sandbox will be able to create more ways to experience vehicles in the Web3 space.

Renault initially took over its South Korean subsidiary in 2000, when it purchased a majority share from Samsung. Today, it has an 80 percent stake in the subsidiary, with Samsung owning the other 20 percent. It is the company’s first known venture into Web3, which has seen a host of car companies dive into the world of NFTs, cryptocurrencies, and the metaverse.

The Sandbox is a contender for the top decentralized metaverse in Web3, jockeying in position with Decentraland. It has formed partnerships with countless companies in and out of Web3, with Playboy, Lionsgate Studios, and the Bored Ape Yacht Club all committing resources to the metaverse.

The announcement of the partnership between Renault Korea and The Sandbox didn’t reveal much in the way of details about the digital automotive experiences. Time will tell what specific directions Renault Korea chooses to pursue for its activities.

More on The Sandbox Partnerships This Year

While the cryptocurrency market has been mired in a slump, teams keep building. And few have built as quickly or successfully as The Sandbox team. It seems not a month goes by when the metaverse is announcing another partnership, usually with a top-end company or popular celebrity. Here are three stories Rarity Sniper has covered in the past month.

15 days ago, The Sandbox announced it had partnered with Gordon Ramsey to launch a “Hell’s Kitchen” cooking game in the metaverse. According to the announcement, there will be digital collectibles available, along with Gordon Ramsey avatars.

25 days ago, Paris Hilton revealed that she had partnered with The Sandbox to build a replica of her Malibu mansion in the metaverse. There, Hilton will host parties and events, as well as sell non-fungible tokens.

About a month ago, The Sandbox shared that it had partnered with South Korea’s No. 1 bank KEB Hana. The financial services institution has plans to open a branch in the metaverse where users can solicit financial advice, as well as buy and sell digital plots of virtual land.

Renault Korea’s partnership with The Sandbox is big news, as it’s the company’s first venture into the Web3 space. It also shows that the partnerships are not slowing for The Sandbox, which may single itself out as the go-to decentralized metaverse soon.