The crypto realm has been met by recent developments that have favored the growth of cryptocurrencies all over the globe and the adoption of Web3. A new venture has been realized as prominent players take to invest in the future of digital currencies.
Outlier Ventures and Walmart have joined forces in launching a groundbreaking milestone in the Web3 space by launching five accelerator programs.
These developments are set to make a significant impact in the technological blockchain world and have also created a buzz in the digital community. Additionally, this program has shown a significant stride toward the integration of blockchain with Web3 technology toward mainstream retail use.
Walmart and Outlier Ventures move into Web3
The No8 base camp intends to focus on employing decentralized solutions in bettering global commerce and retail. Together with Outlier Ventures, both parties have set to launch a Web3 program called the No8 Base camp.
The program is a 12-week virtual incubator that brings in a group of five companies that are entirely focused on Web3 advertising and marketing. Their major themes focus on the development of digital payment technology. These startups are based in different locations, namely the United States (US), the United Kingdom (UK), Italy and Portland.
According to a Walmart vice president and GM for the Metaverse commerce store at No8, Thomas Kang:
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.Thomas Kang
The Web3 technology allows its customers to purchase virtual goods with real-world counterparts. It allows these users to connect both physically and virtually. Kang’s review quoted him saying, “Over the next year, you’ll see us test a variety of experiences in virtual worlds that connect to commerce at stores and vice versa.”
His major focus was putting across that the program will be focusing on digital commerce. It applies to improving Web3 experiences for customers and retailers as they indulge with the technology. Moreover, this program will focus on including better shopping experiences for its customers in a reliable and easily accessible manner.
Just last month, an organization best known for its non-fungible token collection of 8,888 collectibles, Pudgy Penguins, launched their toy line across 2,000 Walmart stores in the US.
Outlier Ventures also responded to the startup program with its CPO, Benjamin Meyer, commenting on the development. He said:
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. This shift aims to enhance efficiency, trust, equity, and overall user experience for both retailers and consumers globally.Benjamin Meyer
Additionally, each project will receive $200,000 stipends provided by Synergis Capital, and these programs will also access various services from the No8 network store.
Who stands to benefit from the Web3 ventures?
According to Crunchbase, from the 370 startups that applied for the No8 Stor listing, the five teams that made it to the final list included HypeLab, a Web3 advertising company founded by Joe Kim and Edward Weng, currently at its seed stage. The company focuses on reaching Web3 users through its self-service advertising portal that can assist in building campaign assets.
Reveel is another startup focused on programmable payout infra, founded by Adrien Stern. The company serves as an on-chain payout infrastructure that can assist other companies in automated accounting and payout systems.
Tide Protocol is also among the list and serves data-driven Web3 marketing and was founded by Vincenzio Manzon and Silvo Busonero. It is an analytical firm that helps Web3 startups develop and customize market campaigns. Tokenguard, founded by Damoian Rolek, Kamil Groski, and Jakub Rojek, is an analytics platform that also focuses on the growth of Web3 startups.
Finally on the list is Unblock, a cross-border payment platform founded by Alastair Preacher, Bivu Das, and Didier Baclin. This platform assists in allowing business payments in the Web3 space via its free API infrastructure.