Walmart has developed two metaverse experiences on Roblox servers as a form of outreach to younger audiences and increasingly online customer demographics.
Shares of Roblox (NYSE: RBLX) were up 2.5% as of 12:10 p.m. ET on Monday. The move coincided with Walmart's (NYSE: WMT) announcement that it was launching two experiences on the popular gaming platform -- Walmart Land and Walmart's Universe of Play. The move won't do much to alleviate the pain investors have felt in Roblox year to date, with the stock down 65%, but it shows how big brands are increasingly viewing Roblox as a valuable marketing channel.
The retail giant filed for trademarks earlier this year that may have hinted at its intent to sell goods in the metaverse.