Walmart Marches Into the Metaverse
UpOnly | Research #30: Renowned retailer and PUBG maker among major Metaverse movers
The Metaverse — a virtual reality environment in which users interact with others in an immersive experience — is projected to be worth $5 trillion within the next eight years. The world’s largest corporations are sizing up the opportunity and making bold moves to position for the inevitable.
In this week’s UpOnly | Research, we review Walmart’s recent Metaverse debut and its potential impact on the industry. The blockchain gaming niche has also recently poached another top talent, with PUBG maker Brendan Green recently announcing the impending launch of a blockchain metaverse gaming title. These significant moves make it clear that Metaverse and blockchain gaming will thrive for the foreseeable future.
Walmart launches first Metaverse venture
American multinational retail outlet Walmart is going big on the Metaverse. The company recently launched two virtual reality environments on the popular Metaverse platform Roblox. Dubbed Walmart Land and Walmart’s Universe of Play, the digital spaces mark the company’s first foray into the Metaverse.
Walmart Land is dedicated to fashion, beauty, style, and entertainment-related content in a gamified environment. Walmart’s Universe of Plays provides a different experience, aiming to become the ultimate virtual toy environment on Roblox. Walmart plans to offer merchandise from popular vendors like af94, Lottie London, and Bubble on its Metaverse spaces.
Walmart’s move into the Metaverse comes roughly nine months after the company signaled its interest in the emerging niche. The company filed seven trademark applications in December geared toward the Metaverse offering. The patent disclosed plans for Walmart to create a virtual currency and NFTs in the Metaverse.
Will Walmart’s Metaverse move spur corporate adoption?
The launch of Walmart’s first Metaverse environment is significant for several reasons. The most obvious is that it positively shapes public perception of the new field. Walmart stores worldwide received an estimated 230 million weekly visits from customers this year, making it one of the most prominent retail outlets.
(Source: Statista)
Walmart’s involvement with the Metaverse validates the niche. It also encourages its multi-million customer base to try out such virtual experiences. Commenting on the recent development, Walmart U.S CMO William White noted: “[Walmart] know our customers are spending loads of time there [in the Metaverse]. So, we’re focusing on creating new and innovative experiences that excite them.”
Walmart’s leading position in the retail chain stores means the latest move could spur a wave of corporate adoption. Major competitors such as Amazon and Costco have been relatively quiet about incorporating the Metaverse into their corporate strategies. They might be pushed to devise one soon. Even less prominent corporations might piggyback off Walmart’s move to adopt the new technology.
PUBG dev to launch blockchain-based Metaverse game
Irish video game developer Brendan Greene, best known as the creator of the popular game PlayerUnknown’s Battle Ground (PUBG) is venturing into blockchain-based gaming. PUBG is easily considered one of the world’s best-selling gaming titles, with over 75 million copies sold in under four years.
(Source: Statista)
This week, Brendan Greene’s gaming studio PlayerUnknown’s Productions announced an upcoming game incorporating Metaverse and blockchain gaming features. Dubbed Artemis, the new game will be based on an Earth-sized virtual world where players can build anything they want.
The game will incorporate NFTs to allow players to buy and sell in-game items. Greene also shared that the game will be open-source. Other developers can build on top of it, while PlayerUnknown’s Production primarily serves as a lead maintainer.
Brendan Greene’s venture into blockchain and Metaverse gaming continues an ongoing trend of veterans jumping ship from the traditional gaming industry. Recently, “The Sims” creator, Will Wright, and Laurent Elliot who designed the renowned title "Where in the World is Carmen Sandiego," have favored a career in the Web3 gaming world. The continued brain drain from the parent industry underscores blockchain’s potential to improve gaming experiences.
Despite continued apathy from mainstream gaming publications and audiences, it would only be a matter of time until a majority of games offer some sort of blockchain-related attribute. Talents build industries, and the blockchain gaming niche has continued to attract the finest.
Make data-driven investments into the Metaverse
The Metaverse industry has grown significantly in the past year buoyed by the increased involvement of corporations and veteran developers. Savvy investors can position themselves for future growth by identifying and investing in projects with remarkable potential. The UpOnly Metaverse directory provides key insights into existing and upcoming projects, allowing investors to capitalize on the opportunities.
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About UpOnly
UpOnly is a first-of-kind data directory that provides insightful and actionable data on the move-to-earn, play-to-earn, and Metaverse gaming fields. We aim to become a one-stop shop for gamers worldwide to identify the most lucrative play-to-earn opportunities and optimize their performance. Alongside our data directory, we will launch a decentralized prediction platform allowing anyone globally to bet on the outcome of play-to-earn and Metaverse gaming events.