Lowe’s Launches Metaverse “Open Builder” Service

Lowe’s (Mooresville, N.C.) has launched a metaverse tool called Open Builder to help customers visualize building projects, according to the CNBC. Currently, Lowe’s digital assets – 500 free downloadable ones – are available through the retailer’s own hub, lowesopenbuilder.com.

Marisa Thalberg, Executive VP and Chief Brand and Marketing Officer, Lowe’s, says that the main goal is not to make money, “Our goal really is to take this new frontier and help people use their imaginations and help them make their visual spaces as exciting and inspirational and enjoyable as their real-world spaces. And that’s the only benefit we seek to obtain at this point,” she told CNBC.

When it comes to NFTs, Lowe’s will also be releasing a limited, free collection of hardhats, boots and other builder accessories through the Decentraland platform in the near future, for the first 1000 participants.

Currently the retailer is not offering any physical items with the purchase of a virtual one, and they don’t currently link to lowes.com through any of the metaverse platforms they’re found on, but that could change in the future, according to Seemantini Godbole, Executive VP and Chief Information Officer, Lowe’s.

Analysts predict that by 2026, a quarter of shoppers will spend at least one hour of their day in the metaverse.