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Walmart is Quietly Betting on the Future of Decentralized Commerce

November 1, 2023
x min read
Walmart is Quietly Betting on the Future of Decentralized Commerce

Walmart may have already conquered the retail landscape in the United States of America.

But they might have just found their newest ambition: crypto.

What’s happening:

  • Walmart’s incubation arm has partnered with Outlier Ventures to launch their crypto accelerator known as Store Nº8
  • The incubator is focused on helping startups building ‘decentralized commerce’ applications that leverage crypto technology

Why it matters:

  • Seeing retail giants such as Walmart begin to bet on crypto startups is a positive signal for wide spread adoption of crypto and the future of real world use cases

By the numbers:

  • The Store Nº8 accelerator had over 370 startups apply from all across the globe
  • Of those applicants only 5 startups made it to the final cohort
  • Each startup in the final cohort will receive $200K in funding from Synergis Capital and be given access to Walmart’s vast network of collaborators

The intrigue:

  • Highly popular NFT collection Pudgy Penguins recently launched their merchandise in over 2,000 Walmart locations across the United States

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