Metaverse, as we know, is an online immersive 3D universe where users can interact digitally. In India, the automobile companies have adopted the metaverse concept whole-heartedly. In July 2022, Maruti launched NEXAverse, its metaverse initiative. Here you can book Maruti’s mid-sized SUV. Maruti plans to spend 10-15 per cent of its innovation budget on the metaverse. MG Motor has launched its own metaverse called MGVerse in June 2022. VolvoVerse has been launched in July 2022 by Volvo.

Consumer behaviour studies point out that in car buying process, there are several touch points, most of which have been digitized. Metaverse is a suitable platform for consumers to experience these touch points.

Apart from the new launches, MGVerse touches five virtual spaces. Its Explore and Create Centre allows you to customise, personalise your car. You can even test drive the car. Its NFT Gallery has several tokens, and is a virtual museum. MG Car Club established a connect among the users and allows access to the events and concerts digitally. In the Gaming Arena, there are video games. MG Knowledge Centre is the training and upskilling facility.

Customer interaction as traditionally imagined must be reimagined. Automobile sector is one of the largest sectors after art work which has adopted NFTs. Mahindra and Mahindra too has released its first batch of NFTs in March, 2022. Metaverse has the potential to affect all dimensions of the auto industry, right from sales to supply chains.