Walmart wants its own cryptocurrency and enter the metaverse

Walmart does not want to give up its leading role and is already exploring the challenges that the future poses for the retail sector.

Photo: FREDERIC J. BROWN/AFP/Getty Images

Walmart is already working on the future and paving the way for embrace the metaverse, create your own cryptocurrency, and develop your own collection of non-fungible tokens or NFTs, published CNBC.

The retail chain presented at the end of December various commercial brands that evidence your intent to manufacture and sell virtual goods, including electronics, home décor, toys, sporting goods, and personal care products.

According to the information, Walmart filed with the US Patent and Trademark Office, seven separate requests on December 30.

Through a statement, the company said it is “Continuously exploring how emerging technologies can shape future shopping experiences”, but declined to elaborate on the specific filings of the trademarks.

The company ensures that they try ideas all the time and that some end up becoming products or services that reach customers and others do not.

″(The presentations are) super intense,” Josh Gerben, a trademark attorney, told CNBC. “There is a lot of language in these, which shows that there is a lot of planning behind the scenes on how they will approach cryptocurrency, how they will approach the metaverse and the virtual world that seems to be coming, or that is already here.”

Gerben explained that since Facebook announced its switch to Meta, companies have been quick to figure out how they will fit into a virtual world.

Gerben said that as consumers become more familiar with the metaverse and the items stored on the blockchain, more retailers will want to create their own ecosystem, so as not to be left behind.

For Frank Chaparro, director of the crypto information services firm The Block, many retailers were latecomers to e-commerce and are still recovering from that mistake, so they don’t want to miss out on the metaverse.

“I think it’s beneficial for any retail company,” Chaparro said. “And even if it turns out to be a fad, there’s not a lot of reputational damage to just trying something weird like giving some customers an NFT in a giveaway, for example.”

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