Outlier Ventures and Walmart’s Store No. 8 incubation arm unveiled their Web3 accelerator program five months ago. They are now introducing their first cohort.
The first batch of participants, taking part in the 12-week virtual incubator program called “Store Nº8 Base Camp,” comprises five startups. These startups are dedicated to creating decentralized solutions to enhance the global retail and commerce experience for consumers.
The five startups – HypeLab, Reveel, Tide Protocol, Tokenguard, and Unblock – specialize in various aspects of Web3, such as ads, payments, marketing, and analytics.
Each team will receive a $200,000 investment from venture partner Synergis Capital, along with mentoring from Outlier Ventures’ and Store Nº8’s in-house team of experts. These experts will offer their insights in areas such as product roadmap development, community building, and other essential aspects to help the teams successfully bring their products to the market.
The primary focus for these teams will be to drive innovation in commerce, with a specific emphasis on decentralized commerce (dCommerce). Their aim is to enhance the retail and consumer experiences through Web3 innovation.
“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,” emphasized Thomas Kang, VP & General Manager, Metaverse Commerce, Store Nº8.
This accelerator program is part of a growing trend of initiatives aimed at supporting Web3-related innovations. Earlier this year, Sella Group introduced the “Metaverse 4 Finance Accelerator” to aid startups in metaverse finance.
In 2022, L’Oréal, Meta, and HEC Paris collaborated on a startup accelerator program designed to foster innovation in the metaverse.
