After Carrefour in February, it is the turn of another very large French company to invest in the metaverse. We have just learned that Renault Korea Motors, the South Korean subsidiary of the car manufacturer, has signed a partnership with The Sandbox, a startup that is also tricolor. The two companies are committed to developing “a digital itinerary”.
Already a real estate crisis in the metaverse?
Concretely, this will allow their customers to test cars in the metaverse. Renault also intends to make full use of the possibilities offered by this virtual world to deploy its marketing campaigns there.
In a press release published for the occasion, Stéphane Deblaise, CEO of Renault Korea, explains: The new digital journey that our company is preparing is intended to provide consumers with an expanded brand experience and familiarize them with the brand. “.
Same story with Cindy Lee, CEO of The Sandbox Korea: “ This partnership is an excellent example of collaboration. The Sandbox can grow without any industrial boundaries. We are able to introduce new types of experiences combining automobiles and digital assets in The Sandbox “.
As our colleagues from Cointribune, the major automotive groups are very fond of the metaverse and some of them preceded Renault in this new virtual space, like Toyota, Audi, or even Volkswagen. The latter has also led a major marketing campaign by focusing on Web3. Internet users were hunting for NFTs on the metaverse.
After a considerable boom at the end of 2021, and beginning of 2022, land prices in the metaverse tend to plummet. According to figures from WeMeta, the volume of transactions on the various specialized platforms has fallen by 90% in recent months compared to November 2021, just after Facebook renamed itself Meta and Mark Zuckerberg announced his ambitions for this new type of Internet. So are we already witnessing a real estate crisis in the metaverse? In any case, this is what our colleagues from The Information in their survey published last August.
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