2
NEWS Crypto Weekly
environment still remains up in the air. She believes that Walmart entering the NFT space represents a "digitization of products" for the company while offering its customers a different type of experience. Yahoo Finance reached out to Walmart for comment on what the company's recent patent filings mean for the future of the retailer.
Entry Barriers to the Metaverse are Rather High Thomas Hum
F
ollowing recent patent filings by Walmart (WMT) suggesting the major retailer may join the likes of Meta (FB) and Apple (AAPL) in entering the metaverse technology arena, consumers are now asking how they can access the virtual space on their own. The access to the metaverse continues to be difficult for average consumers, says CoinDesk Global Macro Editor TV Anchor Emily Parker. "The metaverse is not that easy to access for many of the average users right now," Parker told Yahoo Finance Live. "The barrier to entry is relatively high. Therefore, these established players could make the experience more mainstream, opening it up to a wider audience."
$299 and $399 for 128 GB and 256 GB versions, respectively. Despite this, cost and consumer awareness may limit the uptake of the metaverse by potential everyday users.
Metaverse adoption by corporations In regard to Walmart's move into the metaverse, Parker said that how exactly the big box retailer may leverage the technology of the virtual
"Walmart is continuously exploring how emerging technologies may shape future shopping experiences," a Walmart spokesperson told Yahoo Finance. "We don't have anything further to share today, but it's worth noting we routinely file trademark applications as part of the innovation process." In addition to Microsoft's acquisition of Activision Blizzard (ATVI) for $70 billion, Parker cited Nike's and Adidas' moves in the "metaverse play" market. Decentralization, however, is one of the metaverse's most important concepts. "We could see the danger of monopolization of the space that's supposed to be decentralized and revolutionary by these big corporations, similar to what we saw in the social media space," she said. "So I think [more companies pursuing the metaverse is] possibly a good development, but there are some dangers as well."
Yahoo Finance
A metaverse is a shared virtual world that can be accessed through virtual reality (VR) and augmented reality (AR) devices. Even though many modern smartphones have limited VR and AR capabilities, Apple's VR/AR headset, for example, is expected to cost at least $2,000. While not all VR/AR devices are that expensive, Meta's Oculus Quest 2 costs
January 2022 | Volume 11
www.cryptoweeklymag.com
