What: Walmart is exploring the new possibilities offered by the metaverse both with its own means but also through external ventures.

Why it is important: Innovation is tested at various levels in a way which allows to test and learn without disrupting or endangering the daily business.

Flipkart India, an e-commerce marketplace venture backed by Walmart, is launching an in-house innovation lab to explore what can be done in the metaverse. They are starting by collaborating with the web3 community in order to understand how e-commerce is going to be impacted by the new tech possibilities.

Flipkart has been founded in 2007 and caters to more than 400m users. A controlling stake has been purchased in 2018 for  USD $16bn by Walmart.

Walmart's Flipkart explores the metaverse and Web3 possibilities