Walmart Metaverse: Everything we know so far
Since NFTs took off, the term “metaverse” has gained popularity, and all the top corporations are either now participating in the space or have plans to do so in the future.
Walmart entering metaverse
Now Walmart has joined the list. With close to two decades of experiences on the online game platform, Roblox, Walmart is entering the metaverse.
Roblox is an online gaming platform and a game development tool. It enables users to easily develop a game and play the games created by others. During the Covid epidemic, Roblox attracted a lot of new users and made its stock market debut.
According to the corporation, the number of daily active players on the gaming platform increased up to 20 million over the years. Although the firm claims it is drawing users of a wider age range, historically it has attracted more young children and teenagers. Although Roblox has a market cap of roughly $27.32 billion, its shares have fallen by almost 66% so far this year.
Walmart’s plan for the metaverse
Walmart is entering with two experiences in the metaverse. Walmart’s Universe of Play and Walmart Land are the names of the two experiences. After analysing the impact of the pandemic on consumer behaviour and their involvement with social media apps and games, they are trying to reach consumers with new and innovative ways
Walmart universe of Play
Walmart universe of Play is trying to appeal to its younger population. Walmart will offer immersive games through its Universe of Play brand. Characters from the company’s well-known toy products, like Paw Patrol and L.O.L. Surprise! will appear in these games.
Walmart Land will host an Electric Fest. It will feature acts including Madison Beer and Kane Brown. Users can purchase items from the virtual dressing room at Walmart, including brands like Brooklyn and Bailey’s skincare line, Halsey’s makeup line, and afp4.
Walmart’s efforts toward the change
- Shoppable live-streaming events on TikTok and YouTube have previously been held by Walmart. By working with Meredith, it has created meal recipes. Allrecipes, Parents, and Better Home & Gardens are all owned by Meredith, a media firm. It aims to increase consumer interaction with social networking platforms, mobile apps, and gaming websites.
- Walmart secretly applied for trademarks relating to the metaverse earlier this year. Some of the trademarks expressed interest in producing or offering customers virtual currency, virtual products, non-fungible tokens, or NFTs.
Updates from Walmart’s officials
- William White, the head of marketing at Walmart, stated that as the company exploring in the field of the metaverse and beyond, it will utilize Roblox as a testing ground. According to him, the experiences were created keeping in mind the upcoming generation of consumers. The business aims to attract youthful Gen Z consumers, 25 years of age or under. William White also stated that he anticipates the business will gain knowledge from the alliance.
- William White claimed that Walmart won’t profit from its immersive experiences. Tokens and other awards can be earned by gamers and used to purchase virtual goods on Roblox. Toy labels such as L.O.L. Surprise! and Skullcandy headphones are incorporated into the experiences based on the popularity of those products among Roblox’s younger gaming population rather than on the basis of payment.
- William White also added that in the future, Walmart might be able to profit from it by charging a brand for inclusion or by attempting to convert users’ virtual experiences into in-person or online store visits.
Walmart is trying to get a first-mover advantage. Walmart is creating new and innovative experiences for its users so that they don’t miss out on this dynamic fast-changing environment
Article by Ruchi!