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Walmart is Quietly Betting on the Future of Decentralized Commerce

November 1, 2023
x min read

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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