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Tuesday, May 24, 2022

Walmart Preparing To Step Into Metaverse

It has been reported that Walmart, the retail giant, is gearing up to step into the Metaverse with patent filings which imply the plans of creating an NFT collection. The multinational retailer also filed several new trademarks under the office of the U.S. Patent and Trademark on the 30th of December, however, they were out of public view until a report on the 16th January by CNBC shed a lot of light on the ambition of this retail company.

The company has reportedly filed around seven different patent applications, which include three under its existing division for advertising. 

Walmart Stepping Into The Digital Currency Game

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The applications from Walmart also include its plans of creating and selling virtual goods- which include the likes of toys, electronics, appliances, home decor, and apparel. There has also been a mention of a digital token and a digital currency- along with major opportunities for buying and selling NFTs. Meanwhile, a separate application also highlights the plans of the company to trademark the brand name and logo in VR and AR, coupled with the possibility of introducing physical fitness training services in both AR and VR. 

This is simply the latest news in a string of recent events which indicate the interest of Walmart in the Metaverse. In August, the retail giant had reportedly listed a job vacancy for a digital currency and crypto product lead in order to drive the current strategy for digital currency. Although the job listing has been removed since then, it is still unclear if the role has already been filled. A LinkedIn search for such a person did not yield any results. 

In October, Walmart had also been a major partner of the crypto ATM company Coinstar and crypto-cash exchange Coinme in order to install around 200 Bitcoin ATMs in its various stores across the country. 

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