Retail giant Walmart is joining forces with blockchain venture capital firm Outliers to determine the Shop No. 8 Base Camp acceleration program. This 12-week program is intended for 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 new ways to connect 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 leader of the metaverse commerce division at Store Nº8, believes the expansion of immersive virtual worlds offers a new domain for customer engagement and enables innovative commercial experimentation.
Walmart recently unveiled its metaverse-based shopping platform, which allows 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 improve the shopping experience for both retailers and customers. By supporting startups in the emerging areas of marketing, advertising and payment technology, Walmart is positioning itself as a leader in Web3.
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 underlines the importance of Web3 marketing in the future of retail.
A lot of, another startup in the cohort, is developing a decentralized advertising platform that aims to disrupt the traditional advertising industry. Their innovative approach uses 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. Tidal protocol develops a decentralized escrow platform, Tick guard is working on secure multi-currency wallets, and Unblock is building a decentralized payment gateway.
The future of Metaverse Commerce
Throughout the twelve-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 partnership between Walmart and Outlier Ventures marks an important 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 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 wants to lead the way and provide customers with unique and immersive shopping experiences.
