Walmart venture8/23/2023 The economy remains different from pre-pandemic days, but shipping volumes are beginning to once again resemble the time before COVID-19. In 2023, consumer spending is remaining resilient with in a strong job market, despite the collision of inflation and interest rates. Still it was a decline of 21.3% year over year – reflecting the record cargo hauled in over the spike in consumer demand of 2021 and the inventory glut 2022. In April, the major ports handled 1.78 million Twenty-Foot Equivalent Units. With the spring, volume started to rebound. The decline has been building over the entire year, as imports dipped in the winter. Alongside connections that help startups move forward, such learning is one potential outcome of the accelerator could last beyond the 12 weeks.Īpplications for the accelerator are available here. But it remains a nascent space, so there’s room for startups bringing fresh ideas to help larger enterprises develop capabilities. Walmart entered the metaverse through an activation on Roblox, and also introduced a platform for digital collectibles. The new program arrives in the year after Web3 and the metaverse saw a spike in interest from brands and retailers, as the arrival of immersive platforms opened up new digital environments where consumers gathered. “Decentralized commerce has the potential to unlock new value in the global commerce ecosystem, so we are excited to partner with Outlier Ventures to support and engage with entrepreneurs building at the forefront of this technology on their path to scale," said Store Nº8 VP Thomas Kang, in a statement. They will also receive support from industry mentors in areas such as product roadmap development, the token economy and fundraising. The cohort members will receive funding and access to subject matter experts from Store Nº8 and Outlier Ventures. "There is clearly no better partner than Store Nº8, as Walmart's incubation arm, so we are thrilled to launch this accelerator program together.”īeginning in mid-August, founders will take part in a 12-week program. ![]() ![]() ![]() “We think dCommerce represents a huge opportunity to unbundle ecommerce into its constituent parts, and into a more decentralized and composable stack of protocols to create a more efficient, equitable and improved experience for retailers and consumers from CRM to last-mile delivery," said Outlier Ventures CEO Jamie Burke, in a statement. The virtual program will offer education, funding and mentorship to startups building solutions in Web3 that are designed for the retail and commerce experience.įocus areas for selected startups will include decentralized infrastructure, data and growth solutions, immersive experiences and the metaverse and the intersection of AI and blockchain technology. The organizations opened applications this week for the Store Nº8 dCommerce Base Camp accelerator. Walmart incubation arm Store Nº8 and Web3 accelerator Outlier Ventures are teaming up to support retail startups.
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