The metaverse — where the virtual and physical worlds meet — has already caught the attention of India’s auto industry and the latest to join this bandwagon is auto tech startup, CarzSo. The ‘virtual auto showroom’ recently announced plans to build a non-fungible token (NFT)-based parcel of lands for launching an auto industry focused metaverse.
The Gurugram-based company already has web 2.0 presence which leverages virtual reality (VR) and virtual showroom technologies to buy and sell cars. According to Vaibhav Sharma, Founder & CEO of CarzSo, "The new development, will complement the company's existing virtual showrooms, enabling customers to skip a visit to the dealership and buy cars virtually. They had also recently hired a firm to file patents around the use of virtual showrooms and metaverse in the retail auto world."
“The company in any case had plans to unveil metaverse sooner than later, but seeing the traction with which the auto tech market is opening, the timing could not have been better," said Sharma, adding that with plans to build a gaming platform around this concept, the auto tech start-up said that it “will become the world’s first company to take the retail auto sector to the metaverse space.”
Sharma also said that CarzSo has plans to launch its own NFT tokens too during next quarter. The company aims to facilitate auto buyers and owners to create NFTs of their vehicle number plates that can be traded later. This will provide vehicle owners a unique digital identity for their vehicles.
The auto tech start-up already has web 2.0 presence which leverages virtual reality (VR) and virtual showroom technologies to buy and sell cars. Thus, the new development will complement the company’s already existing virtual showrooms, enabling customers to skip a visit to the dealership and buy cars virtually. They had also recently hired a firm to file patents around the use of virtual showrooms and metaverse in the retail auto world.
The metaverse that has gotten a lot of attention since Facebook changed its name to Meta and decided to bet big on virtual world. The auto sector is already witnessing a change in the way cars are sold, repaired, driven and designed.
Earlier, this week, auto original equipment manufacturer (OEM) MG Motor also entered into the metaverse with its platform called, MGverse. With the new metaverse platform, the brand aims to bring MG fans, customers, partners, and employees together to work, play, engage, collaborate, co-create, socialise and shop.
While MG Motor already ventured into NFT space last year, it has recently launched an NFT Gallery to allow users to witness MG’s collections on display.
Companies such as MG Motor and CarzSo now join the growing list of auto brands such as Toyota and, Nissan which ventured into the metaverse in late April as well as a growing number of auto tech start-ups that are exploring this space.