The Korea Herald

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Renault Korea lures young drivers with NFT campaigns

By Kim So-yeon

Published : May 24, 2023 - 13:53

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A non-fungible token artwork based on Renault Korea's SM6 luxury sedan (Renault Korea Motors) A non-fungible token artwork based on Renault Korea's SM6 luxury sedan (Renault Korea Motors)

Renault Korea Motors seeks to lure tech-savvy young drivers with its digital campaign “Create Your SM6,” the Korean unit of the French auto giant said Wednesday.

The carmaker offers an artificial intelligence-based design tool, called Stable Diffusion, for participants to create their own SM6 sedan car and submit the image as a non-fungible token to win digital coins.

Based on the car’s highest-trim model Inspire, almost 14,000 NFTs have been submitted ahead of Friday’s deadline.

The image is also required to come with a description that is created by using ChatGPT, the popular chatbot developed by Open AI.

The carmaker said it plans to pick 10 winners to issue digital tokens using their NFT artworks, offering them klaytn cryptocurrency as well. More promotional events are expected to be held for the finalists.

The Create Your SM6 campaign is the third of its kind, starting last year as part of the company’s NFT-based project, following the “Create Your Epic Car” campaign in October and the “XM3 E-Tech Hybrid Meta Unpacked” campaign, a virtual launch event of the compact car, in November.

“The campaigns aim to offer customers diverse experiences by creating digital-based mobility space,” said a Renault Korea official. “We will continue our digital journey for our customers in an ever-evolving Web 3.0 digital era.”

Renault Korea signed a memorandum of understanding with Singapore’s Altava Group, a luxury fashion brand operating in the metaverse, last July. The company also joined hands with metaverse gaming developer the Sandbox in September last year to launch NFTs, blockchain games and virtual reality products.