Retail giant Walmart has partnered with blockchain venture capital firm Outlier Ventures to launch the Store Nº8 Base Camp accelerator program. This 12-week initiative is designed for startups focusing on Web3 marketing, advertising, and payment technology. By joining forces with Outlier Ventures, Walmart is demonstrating its commitment to embracing emerging technologies and exploring innovative ways to connect with customers.
The first cohort of the program includes five startups: HypeLab, Reveel, Tide Protocol, Tokenguard, and Unblock. Thomas Kang, Vice President and General Manager at Walmart and head of the metaverse commerce division at Store Nº8, believes that the expansion of immersive virtual worlds provides a new avenue for customer engagement and enables unique commerce experiments.
In line with this belief, Walmart recently unveiled its metaverse-based shopping platform, which allows consumers to purchase virtual versions of real-world items. This groundbreaking approach has the potential to revolutionize the shopping experience by immersing customers in a virtual world, offering them a truly interactive and engaging way to shop.
Commerce and payment technology also play a crucial role in the Web3 space. The Store Nº8 Base Camp accelerator program aims to promote decentralization in commerce and leverage Web3 innovations to enhance the shopping experience for retailers and customers alike. By supporting startups in the fields of marketing, advertising, and payment technology, Walmart is positioning itself as a leader in the Web3 ecosystem.
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One of the startups selected for the program, HypeLab, specializes in Web3 marketing strategies. Using blockchain technology, they strive to create authentic and engaging experiences for brands and consumers. Their inclusion in the cohort highlights the growing importance of Web3 marketing in shaping the future of retail.
Another startup in the cohort, Reveel, is developing a decentralized advertising platform that seeks to disrupt the traditional advertising industry. Their innovative approach utilizes blockchain technology to create a more transparent and efficient advertising ecosystem, benefitting both advertisers and consumers.
In the realm of payment technology, three startups—Tide Protocol, Tokenguard, and Unblock—are working on different aspects of the Web3 space. Tide Protocol is developing a decentralized escrow platform, while Tokenguard focuses on creating secure multi-currency wallets. Unblock, on the other hand, is building a decentralized payment gateway. These startups’ involvement in the program underscores the significance of payment technology in the Web3 space and highlights Walmart’s commitment to supporting and shaping its development.
Throughout the 12-week Store Nº8 Base Camp accelerator program, Walmart and Outlier Ventures will provide selected startups with mentorship, resources, and networking opportunities to accelerate their growth and bring their Web3 innovations to market. This collaboration represents a significant step toward bridging the gap between traditional retail and emerging technologies. In an increasingly digital world, retail giants like Walmart must stay ahead of the curve and adapt to the changing landscape to remain competitive.
By launching the Store Nº8 Base Camp accelerator program, Walmart not only supports startups in the Web3 space but also establishes itself as a leader in the metaverse commerce industry. As the metaverse continues to evolve, Walmart aims to be at the forefront, offering customers unique and immersive shopping experiences that align with the latest advancements in technology.
In conclusion, Walmart’s partnership with Outlier Ventures to establish the Store Nº8 Base Camp accelerator program demonstrates its commitment to embracing emerging technologies and innovating within the retail space. By supporting startups focused on Web3 marketing, advertising, and payment technology, Walmart positions itself as a leader in the Web3 ecosystem and the metaverse commerce industry. Through mentorship, resources, and networking opportunities, Walmart aims to accelerate the growth and development of these startups, ensuring they bring their Web3 innovations to market successfully. As the metaverse evolves, Walmart is ready to provide customers with unparalleled shopping experiences that embrace the latest advancements in technology and immersive virtual worlds.
