Five Web3 startups selected for Walmart accelerator co-founded by Outlier and Synergis

Source: Outlier Ventures

On July 1, 2023, Synergis Capital and Outlier Ventures, the largest incubator for Web3, announced the joint establishment of the Store Nº8 Web3 digital commerce accelerator for Walmart. Synergis Capital, a leading venture capital firm in the industry, focuses on researching and investing in emerging blockchain and technology, and is a leader in enterprise-level blockchain integration. By accelerating the development of innovative applications, it attracts a wide audience. The investment areas cover enterprise-level blockchain infrastructure, artificial intelligence, digital commerce, stablecoins, DeFi, crypto art, blockchain game infrastructure, etc. The investment portfolio already includes industry star projects such as Magic.Link, Rabbit OS, IYK, Discord, 100 Thieves, etc.

Walmart's incubation organization, Store Nº8, has partnered with Outlier Ventures and Synergis Capital to launch its Web3 accelerator program. This 12-week incubation program has attracted entrepreneurial teams from various fields, and the five winning companies are engaged in web3 marketing, advertising, and new payment technologies. These startups come from the United States, Italy, Poland, and the United Kingdom.

Thomas Kang, Vice President and General Manager of the Internet Shopping Experience Department of Walmart and Store Nº8, said: "At Walmart, we believe that the constantly expanding immersive virtual world not only provides us with new ways to meet and interact with customers, but also provides us with an opportunity to try new types of business." He is also responsible for Store Nº8's work in the metaverse commerce field.

Thomas Kang said that Web3 allows customers to purchase virtual goods while also providing opportunities to connect real and virtual life. He said, "In the next year, you will see us testing various experiences that connect stores and physical businesses in the virtual world."

This plan focuses on "decentralized commerce", which improves the experience of retailers and consumers through Web3 innovation.

Last month, Pudgy Penguins, known for its 8,888 NFT collectibles, launched its toy product line in over 2,000 Walmart stores in the United States. Benjamin Meyer, Chief Product Officer at Outlier Ventures, said, "We believe that decentralized commerce offers a significant opportunity to break down commerce into its fundamental elements and transform it into a more decentralized and adaptable protocol framework. This transformation aims to improve efficiency, trust, fairness, and overall user experience for retailers and global consumers."

This plan does not have specific requirements for protocols, and each team can operate on any blockchain. Each project receives a $200,000 grant from Synergis Capital and receives enterprise consulting support from KPMG USA. These startups will also receive support from the Store Nº8 network, which covers e-commerce, retail, marketing, media, Web3, gaming, and venture capital.

Despite the bear market in the cryptocurrency industry, this incubator and other accelerator programs remain hopeful for the future. Ruth Galvin, project manager at Outlier Ventures, said: "This challenging period is also an opportunity for founders to refine their core value propositions and gain market share, promoting a culture of innovation and efficiency."

More than 370 startups applied to participate, but only these 5 teams were selected.

One, Company Name: HypeLab 

Business field: Web3 advertising.

Founder: Joe Kim, Edward Weng.

Phase: Seed Round

Company Introduction: HypeLab aims to make Web3 advertising simple. Its goal is to help companies showcase their products to Web3 users through its design services, such as the "self-service advertiser portal", which can help build marketing campaign assets. The startup also offers on-chain and off-chain advertising placement options for advertisers. According to the company, it provides users with a software development kit that can embed ads into decentralized applications in less than 20 minutes. HypeLab is supported by investors such as Coinbase Ventures, Synergis Capital, Shima Capital, Dispersion Capital, and OP Crypto.

二、公司名称：Reveel 

2. Company Name: Reveel 

Founder: Adrien Stern.

Phase: Seed Round

Company Introduction: Reveel is a company that provides on-chain payment infrastructure and creator tools, which can help start-ups automate their accounting and payment infrastructure. According to its official website, its ecosystem includes multiple applications, brands, and networks, such as Ethereum, Polygon, Alchemy, and Zora. The platform helps start-ups manage all their revenue through a one-stop dashboard, while providing customizable payment processes. This infrastructure supports multi-chain operations and can handle various tokens. Developers can also integrate Reveel's revenue sharing protocol into their projects through its software development kit, so that creators can share revenue with others. The company is supported by Binance Labs, Synergis Capital, Moment Ventures, Anamcara, and Pixelynx.

三、公司名称：Tide Protocol 

3. Company Name: Tide Protocol 

Founder: Silvio Busonero, Vincenzo Manzon.

Phase: Seed Round

Company Introduction: Tide Protocol is a set of marketing and analytics tools that help Web3 startups create and customize marketing campaigns. The company is supported by Polygon Studios and can run on any Ethereum-compatible blockchain without coding background. According to Crunchbase data, it has received support from Synergis Capital and Outlier Ventures.

Four, Company Name: Tokenguard 

Business field: Web3 growth analysis platform.

Founder: Kamil Gorski, Jakub Rojek, Damian Rolek.

Stage: Pre-seed round 

Company Introduction: Tokenguard is an analytics platform that focuses on helping Web3 projects grow. It supports blockchain and cryptocurrency projects such as Polkadot, Moonbeam, Aleph Zero, Astar, and Kusama. The platform provides decentralized applications, on-chain and off-chain analytics, ecosystem growth tracking, and cryptocurrency APIs. According to Crunchbase, it has received support from Synergis Capital, Outlier Ventures, and NCBR Investment Fund ASI S.A.

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