Walmart has entered the metaverse with the launch of Walmart Land and Walmart’s Universe of Play on Roblox. The metaverse gaming platform has 52.2 million daily active users and 11.3 billion engagement hours. “Our customers are spending loads of time there,” said a Walmart executive.
Walmart Entering the Metaverse
U.S. retail giant Walmart announced Monday the launch of “Walmart Land” and “Walmart’s Universe of Play” on the metaverse gaming platform Roblox.
The announcement explains that Walmart Land will feature a virtual store of merchandise for avatars; a physics-defying Ferris wheel; and unlockable tokens and badges that can be earned in various games and competitions. Walmart’s Universe of Play will have “The year’s best toys,” the retail giant described. “The Roblox community can explore different toy worlds to earn coins for cool virtual goods, or complete epic challenges to build a personal trophy case, unlock secret codes and more.”
William White, chief marketing officer at Walmart U.S., commented:
Roblox is one of the fastest growing and largest platforms in the metaverse, and we know our customers are spending loads of time there.
“So, we’re focusing on creating new and innovative experiences that excite them, something we’re already doing in the communities where they live, and now, the virtual worlds where they play,” he detailed.
Roblox is an online gaming platform that has gained much popularity, particularly with Generation Z. The company’s website states that as of June 30, Roblox has 52.2 million daily active users, 11.3 billion engagement hours, 12 million creators, and 32 million experiences.
Some other major companies and celebrities have also used Roblox for their metaverse business. In July, electronics giant Samsung announced the launch of Samsung Space Tycoon on Roblox. Reality TV star Paris Hilton created an island called Paris World on Roblox in December last year, and played an electronic set of music on New Year’s Eve on her virtual island.
Bank of England’s analysts said in August that crypto assets could have important roles within the metaverse. Earlier this year, Goldman Sachs said the metaverse could be an $8 trillion opportunity. McKinsey & Company expects the metaverse to generate $5 trillion by 2030. Meanwhile, Citi has predicted that the metaverse economy could grow to between $8 trillion and $13 trillion by 2030.
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A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
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