By Sam Boughedda
Walmart (NYSE:WMT) announced the launch of metaverse experiences Walmart Land and Walmart's Universe of Play on the Roblox (NYSE:RBLX) gaming platform.
The move marks Walmart's first foray into the metaverse, with the spaces offering interactive content and entertainment for customers.
The retailer said its metaverse platform will feature "immersive experiences," including a virtual store of merchandise for your avatar, a Ferris wheel, and unlockable tokens and badges that can be earned in various games and competitions.
The pandemic saw a shift in consumer behavior, and Walmart is aiming to capitalize on the change by testing new ways to reach shoppers.
"We're showing up in a big way – creating community, content, entertainment and games through the launch of Walmart Land and Walmart's Universe of Play," said William White, chief marketing officer, Walmart U.S. "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."
Despite opening Monday's session lower, Walmart shares are up 0.7% at the time of writing. Roblox shares jumped in early trading, currently up almost 3% from Friday's close.