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Lowe’s Expands into the Metaverse and Sees Endless Possibilities

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Image Credit: Zee (Flickr)


With Free Downloads of Metaverse Assets, Lowe’s now Helps with Projects in the Real and Augmented Worlds

While the metaverse now includes fast-food chains like Wendy’ (WEN), McDonald’s (MCD), and Chipotle (CMG) that have positioned themselves on augmented reality platforms for branding, a newcomer, Lowe’s (LOW), the home improvement store, has bigger goals. Lowe’s announced yesterday (June 21) in a press release that customers will be able to enter the metaverse and use augmented reality to help them visualize a project they are involved in. The initial launch will include free downloads of products for added home design inspiration.

In the release announcing the additional service, Lowe’s says they have been at the forefront of building in the real world for more than 100 years, and now they will be helping builders of the metaverse create new possibilities. Rather than entering the metaverse with a storefront to sell virtual goods, Lowe’s aims to equip builders (at no cost) with items from its real-world shelves to give their creations more eye appeal.

To get them started, Lowe’s has made more than 500 3D metaverse products available for download for free using Lowe’s Open Builder. Open builder is a new asset hub designed to be available to all creators.

“We’ve been at the forefront of building since our beginning, and the metaverse is in a pivotal stage of development. 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,” said Marisa Thalberg, Lowe’s chief brand and marketing officer. “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.”


Image: Lowe’s pioneered virtual reality training within its stores with Holoroom

Lowe’s says its vision is for both virtual and augmented worlds to play a role in its customers’ lives. While this is the company’s first step into the metaverse, Lowe’s has been using emerging technology to help customers gain inspiration and more easily visualize and plan their home improvement projects. The recently launched Measure Your Space, uses LiDAR to sense depth and map dimensions of a space, and Holoroom How To, was one of the first home improvement virtual reality clinics. It teaches customers skills like how to tile a shower and does it in a fully immersive virtual environment.

“Over the past several years, we have infused new technologies into the planning and shopping experience and know our customers have benefitted 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, chief information officer of Lowe’s. “By entering the metaverse now, we can explore new opportunities to serve, enable and inspire our customers in a way no other home improvement retailer today is doing.”

The 500 starter assets available include items such as lighting, patio furniture, area rugs, kitchen, and bath accessories, they will be usable across metaverse and non-metaverse environments, such as gaming, augmented reality, and creative design. It is expected that these assets will be adopted by metaverse builders making virtual land, homes, goods, and experiences for use in other decentralized communities. These will even include custom, wearable NFTs.

Lowe’s stock price saw little or no impact from the announcement.

Paul Hoffman

Managing Editor, Channelchek

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Sources

www.LowesOpenBuilder.com

https://www.lowesinnovationlabs.com/

https://www.prnewswire.com/news-releases/lowes-to-help-builders-create-a-new-world-of-possibility-inside-the-metaverse-301571465.html

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