Car brands and automakers are exploring the potential of the metaverse. Renault is partnering with The Sandbox to offer virtual automotive experiences in the metaverse. Renault Korea Motors inked a deal with the virtual platform in September to bring its cars into the virtual realm and “to introduce new types of experiences that combine automobiles and digital assets in The Sandbox,” said Cindy Lee, CEO at The Sandbox Korea

WEB volvoverse

Volvo launched its latest electric vehicle (EV) in the metaverse this summer. Conceptualized by a consortium of WPP agencies, the “Volvoverse” hosted Volvo India’s launch event for the rechargeable XC40. The event took place in the metaverse as a way to echo and highlight Volvo’s sustainable ethos. “The metaverse launch also contributes to our sustainability mission as it leaves a negligible carbon footprint as compared to conventional launches,” explained Jyoti Malhotra, managing director of Volvo Car India.

Also in India, Hyundai took to Roblox in August to launch their latest SUV. The event included educational spaces such as virtual test drives, a virtual showroom, and a virtual service center service center, alongside social gaming elements including a mini game, photo booth and treasure hunt.

Ford is preparing to enter the metaverse with the filing of 19 trademarks across its brands that cover virtual cars, trucks, vans, SUVs and clothing for its brands and also cover a proposed online marketplace for NFTs.

The metaverse market for the automotive industry is projected to grow from $1.9 billion in 2022 to $16.5 billion by 2030, according to a new report. Innovative leaders in the auto industry are looking to capitalize on this growth—rethinking metamobility and traditional consumer touchpoints along the way.

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