Walmart CTO says crypto will become a ‘major’ payment disruptor

10/18 07:45

At the Yahoo Finance All Markets Summit on Oct. 17, Kumar outlined Walmart’s positive stance on digital assets, noting that “crypto will become an important part of how customers transact” for both physical and virtual goods. “I think there are three major disruptions. Crypto falls a bit in between,” he said, explaining that “the way customers get inspired and discover products” is changing. Kumar also suggested that a significant number of customers will be marketed through the Metaverse and live streams on social media apps, and that crypto could be an important payment option in these kinds of areas. “When you talk about crypto specifically, it’s about discovering products, whether it’s physical or virtual, either the Metaverse or upfront, and then how people transact.” This may explain Walmart’s recent foray into the Roblox Metaverse, launching Walmart Land in late September. The company offers a range of virtual experiences there, such as games, a DJ booth and Ferris wheel, and also offers virtual merchandise products, called ‘verch’, for the avatars of users.

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