Can Lowe’s build something tangible in the metaverse?
Lowe’s has joined the growing list of brands and retailers stepping into the metaverse with hopes of someday building tangible results in the real world.
The home improvement retailer yesterday said that it is making 500 3-D product assets available for download at no charge via Lowe’s Open Builder, a new hub that enables builders to complete their projects in virtual environments such as Fortnite, Meta’s Horizon Worlds and Roblox.
Lowe’s 3-D assets will include items like area rugs, bath and kitchen accessories, décor accents, lighting and patio furniture for use in both metaverse and non-metaverse environments such as augmented reality, creative design and gaming. In the metaverse, builders can incorporate the assets into virtual homes and other experiences.
The retailer also released a limited non-fungible token (NFT) wearable collection to allow the first 1,000 participants to clothe their avatars in boots, hardhats and other accessories. The NFTs are available for use in Decentraland, a virtual destination for digital assets. NFTs will be accessed via a free airdrop for users with links to a MetaMask (crypto) wallet.
“We’ve been at the forefront of building since the beginning, and the metaverse is in a pivotal stage of development,” Marisa Thalberg, Lowe’s chief brand and marketing officer, said in a statement. “It’s 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. 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.”
“Over the past several years, we have infused new technologies into the planning and shopping experience and know our customers have benefited greatly from being able to explore and test home improvement projects in the virtual world before taking the leap to implementation in their real-world homes or job sites,” said Seemantini Godbole, Lowe’s CIO. “By entering the metaverse now, we can explore new opportunities to serve, enable and inspire our customers.”
- Lowe’s to Help Builders Create a New World of Possibility Inside the Metaverse – Lowe’s
- Lowe’s Open Builder – Lowe’s
- Lowe’s Exclusive NFT Airdrop – Lowe’s
DISCUSSION QUESTIONS: Is Lowe’s decision to launch its own hub for 3-D assets instead of choosing an established metaverse platform the right decision? Do you think a real world payoff will come from these types of efforts?