Retail giant Walmart is joining forces with blockchain venture capital firm Outlier Ventures to establish the Store Nº8 Base Camp accelerator program. This 12-week program is aimed at startups focusing on Web3 marketing, advertising, and payment technology.
The Importance of Web3 Marketing in Retail The Store Nº8 Base Camp accelerator program is Walmart’s latest move to embrace emerging technologies and explore novel ways to engage with its customers. The program’s first cohort consists of five startups: HypeLab, Reveel, Tide Protocol, Tokenguard, and Unblock.
Thomas Kang, Vice President and General Manager at Walmart and leading the metaverse commerce division at Store Nº8, believes that the expansion of immersive virtual worlds offers a new realm for customer engagement and allows for innovative commerce experimentations. In fact, Walmart recently unveiled its metaverse-based shopping platform, which enables consumers to purchase virtual versions of real-world items.
This innovative approach is expected to revolutionize the shopping experience by immersing customers in a virtual world. The Role of Payment Technology in the Web3 Space The Store Nº8 Base Camp accelerator program aims to drive decentralization in commerce and leverage Web3 innovations to enhance the shopping experience for both retailers and customers.
By supporting startups in the emerging fields of marketing, advertising, and payment technology, Walmart is positioning itself to be a leader in the Web3 space. HypeLab, one of the startups selected for the program, is a company specializing in Web3 marketing strategies. They focus on using blockchain technology to create authentic and engaging experiences for brands and consumers.
Their inclusion in the cohort highlights the importance of Web3 marketing in the future of retail. Reveel, another startup in the cohort, is developing a decentralized advertising platform that aims to disrupt the traditional advertising industry. Their innovative approach leverages blockchain technology to create a more transparent and efficient advertising ecosystem. Tide Protocol, Tokenguard, and Unblock are all startups working on different aspects of payment technology in the Web3 space.
Tide Protocol is developing a decentralized escrow platform, Tokenguard is working on secure multi-currency wallets, and Unblock is building a decentralized payment gateway. The Future of Metaverse Commerce Throughout the 12-week program, Walmart and Outlier Ventures will provide mentorship, resources, and networking opportunities to help these startups accelerate their growth and bring their Web3 innovations to market.
The collaboration between Walmart and Outlier Ventures signals a significant step in bridging the gap between traditional retail and emerging technologies. As the world becomes increasingly digital, it is crucial for retail giants like Walmart to stay ahead of the curve and adapt to the changing landscape.
With the Store Nº8 Base Camp accelerator program, Walmart is not only supporting startups in the Web3 space but also positioning itself as a leader in the metaverse commerce industry. As the metaverse continues to evolve, Walmart aims to be at the forefront, providing customers with unique and immersive shopping experiences.
Source : NFT News Today / October 25, 2023