Metaverse

Walmart Set to Enter Metaverse With Crypto and NFT Plans

Walmart Set to Enter Metaverse With Crypto and NFT Plans

  • Walmart is the latest company to be venturing into the metaverse as plans to create a cryptocurrency and NFT collections emerged
  • The retail giant filed several new trademarks late last month that indicates that it is looking to sell virtual goods
  • In a separate filing the company disclosed that it will offer users a virtual currency and NFTs

Walmart is set to venture into the metaverse as reports have emerged that the company plans to create its own cryptocurrency and collection of non-fungible tokens (NFTs).

Walmart

The retail giant filed several new trademarks late last month that indicate plans to make and sell virtual goods such as electronics, decorations, and toys.

In a separate filing, the company also revealed plans to offer users a virtual currency, as well as NFT collections.

The U.S. Patent and Trademark Office revealed that the patent application was filed by Walmart on Dec. 30 and seven applications have been submitted in total.

The company released a statement stating that it is exploring ways in which emerging technologies may shape future shopping experiences.”

It added:

We are testing new ideas all the time. Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”

Read also: Jack Dorsey’s Block Inc to Build Open Bitcoin Mining System

Ever since Facebook signaled its intent to divert resources into the metaverse, other companies have been rushing to figure out ways to fit into the metaverse.

Nike is another company that joined recently after the designer retailer revealed plans to sell virtual sneakers on the metaverse.

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