Walmart reportedly planning to enter the metaverse, to creates its own cryptocurrency
Walmart is preparing to launch its own cryptocurrency and collection of non-fungible tokens, filings with the U.S. Patent and Trademark Office show, setting the stage for meeting its customers in the emerging metaverse.
According to a CNBC report, the big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.
The applications were among a flurry the company filed on Dec. 30, including three under “Walmart Connect” — the name of the company’s existing digital advertising venture — for a financial exchange for virtual currency and advertising.
Applications also were filed for “Verse to Store,” “Verse to Curb” and “Verse to Home” for shopping services. It’s also seeking trademarks to apply the Walmart name and “fireworks” logo to heath-care services and education in virtual and augmented reality.
In total, seven separate applications have been submitted.
In a statement, Walmart said it is “continuously exploring how emerging technologies may shape future shopping experiences.” It declined to comment on the specific trademark filings.
All of the applications were filed indicating that the company intends to use them but has not yet begun doing so. The trademarks wouldn’t be registered until they are in actual use.
In early December, Walmart Chief Financial Officer Brett Biggs said at an analyst conference that the company was open to allowing shoppers to pay in cryptocurrency if customers demand it, but the company didn’t see a need to rush out any capabilities.