Walmart (NYSE: WMT) is joining the metaverse with two immersive experiences on Roblox (NYSE: RBLX), the online gaming platform. America’s leading retailer is launching its stint as one of the gaming giant’s brand partners on Monday, according to a press release.
The two spaces, called Walmart Land and Walmart’s Universe of Play will bring to virtual life the best of Walmart’s ‘isles,’ where Walmart grooms its “next generation of customers” and encourage them to buy ‘verch’ or virtual merchandise. But it’s not all about buying virtual items, customers can also win tokens and earn badges in games and competitions.
While Walmart Land will house experiences that cater more to teenage players with music and fashion-focused offerings, Walmart’s Universe of Play will “bust the toys loose and turn them up,” just in time for the holiday season, too.
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Walmart’s expansion into the metaverse marks another attempt to reach more customers outside of its usual acquisition strategies. The retailer recently closed a deal with Paramount to include a free Paramount+ streaming plan with a Walmart+ membership.
Walmart last traded at $130.56 on the NYSE.
Information for this briefing was found via Walmart, Yahoo! Finance, and the companies and sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
