Walmart Launches Web3 Accelerator With Outlier Ventures To Revolutionize Decentralized Commerce
Milestone Date: October 24, 2023
Walmart’s incubator arm Store Nº8 and Outlier Ventures are teaming up to launch Store Nº8 Basecamp, a 12-week virtual incubator program that will host five companies that specialize in Web3 marketing, advertising, and improving payment technology.
The incubator program is focused on decentralized commerce and improving the retail and consumer experiences by leveraging Web3.
“At Walmart, we see the growth and expansion of increasingly immersive virtual worlds as not only a chance to develop new ways to meet and engage with our customers, but also an opportunity to experiment with a new type of commerce,” said Thomas Kang, VP and GM at Walmart and for the metaverse commerce at Store Nº8.
The incubator program is protocol-agnostic. Each of the companies participating will receive $200,000 stipends from Synergis Capital, enterprise advising from KPMG U.S., and expert in-house support from Outlier Ventures and Store Nº8. The five companies that are participating in the virtual incubator program are HypeLab, Reveel, Tide Protocol, Tokenguard, and Unblock.
“We believe that decentralized commerce offers a significant opportunity to break down commerce into its fundamental elements, transforming it into a more decentralized and adaptable framework of protocols,” said Outlier Ventures CPO Benjamin Meyer.
This is a big move for enterprises that are clearly interested in investing in the future growth of Web3 and how to use blockchain technology to enhance the future of commerce.
By Elizabeth Morrison
Published:October 24, 2023
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