TL;DR Breakdown
- Walmart is planning to launch its own digital tokens and assets.
- The company has filed several trademark applications with the USPTO.
- Major retailers are planning early to enter the metaverse and crypto space.
American retail chain Walmart is preparing to enter the metaverse by creating its own NFT collections and cryptocurrency. This information is based on several trademarks filed by the retail giant with the United States Patent and Trademark Office.
In a filing, Walmart described the use of a trademark digital currency and a digital token for its community members. This is hinting towards a new cryptocurrency being launched by the retailer.
Another separate filing mentions blockchain and digital assets to be used by the company, hinting towards NFTs. All of these applications were filed by Walmart on December 30. According to CNBC, Walmart has filed seven different applications detailing separate plans for NFTs, digital tokens, and other metaverse elements.
Retail giants continue to transition into the metaverse and crypto space
Walmart isn’t the only major retailer planning to expand into the metaverse. Recently, popular clothing retailer GAP launched its own NFT collections. Nike also filed several trademark applications recently showing plans to introduce virtually branded sneakers.
The company has also announced plans to develop its own virtual space called ‘NIKELAND’. It’s a virtual platform where Nike fans can connect, interact, compete, and share unique experiences with each other.
Walmart is the latest retailer to being its own blockchain and metaverse planning. Experts are saying that a lot of major retailers have suffered due to being late into the global e-commerce scene. Metaverse, NFT, and crypto seem to be the next big innovation that will define the retail industry for future generations. So, there is an existent FOMO among these retailers, as they don’t want to miss out on the next big trend.
Source: https://www.cryptopolitan.com/walmart-is-planning-to-enter-the-metaverse/