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Metaverse: Lowe’s jumps into the virtual world
Lowe's Companies, Inc., an American retail company specializing in home improvement, is expanding its business into the metaverse through a tool that will help visualize projects. As more and more firms are jumping into the virtual world, Lowe's is taking the opportunity to help builders envisage projects.
Lowe's metaverse assets, such as free downloads of around 500 items, are all available in its own hub, and this is what sets the company apart from the others. This is because other retailers usually choose one virtual platform or game world, such as Roblox, to host their assets, while Lowe's has its own space, as per CNBC.
The company's EVP said that Lowe's made the decision not to pick just one metaverse platform but rather "a kind of an agnostic and kind of democratized approach," so it is a unique system. Lowe's goal for this project is to take this new frontier and help people to make use of their imaginations to create their own virtual world.
At any rate, it was mentioned that Lowe's is the first major retailer in the home improvement department to enter the metaverse and allow its applicable assets to be downloadable free of charge. The virtual assets created on Lowe's metaverse are based on real products that it actually sells in its stores and online.
"We have been at the forefront of building since the beginning and the metaverse is in a pivotal stage of development," Lowe's executive vice president, chief brand and marketing officer, Marisa Thalberg, said in a press release. "It is only natural that we would be interested in working alongside and in service of the emerging community of builders creating this new world, with the democratization of possibility in mind.
She went on to say, "At the same time, we are also very clear on our reason for being – to make homes better for all by helping our customers to create real world value in their homes, in their jobs and in their communities. This will continue to be our North Star in the metaverse."