Walmart to join the Metaverse? Retailer files applications for own-brand Crypto and NFTs

Walmart to join the Metaverse? Retailer files applications for own-brand Crypto and NFTs

THE WHAT? U.S. retailer Walmart has filed seven applications to the U.S. Patent and Trademark office to launch its own-brand cryptocurrency, NFTs, possible payment system, and e-wallets, according to CNBC. 

THE DETAILS As per one of the filings, Walmart intends to create and sell virtual items such as personal care and home décor, which would work in AR settings such as the metaverse. 

Applications were filed in December, with three under Walmart Connect – the company’s existing digital advertising arm. Other applications included Verse to Store, Verse to Curb and Verse to Home for shopping services. 

An application for a trademark to apply the Walmart name and fireworks to logo for health services in virtual and AR was also filed. 

THE WHY? The trademark applications are the latest part of Walmart’s step into the metaverse, having last year advertised for a job position that focuses on developing ‘the digital currency strategy and product roadmap’ as well as identifying ‘crypto-related investment and partnerships.’

According to a company statement to Bloomberg, “Walmart is continuously exploring how emerging technologies may shape future shopping experiences. We don’t have anything further to share today, but it’s worth noting we routinely file trademark applications as part of the innovation process.”

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