Walmart Trademark Filings Indicate Intent to Produce Metaverse and NFT Concepts, According to a Report

According to a recent report, Walmart Inc., an American multinational retail giant that manages a network of department stores, is preparing to enter the non-fungible token (NFT) technology and metaverse ideas industries.

NFTs, Blockchain Technology, Digital Collectibles, Metaverse, and Virtual Department Store Games are all mentioned in Walmart's trademark filings with the USPTO.

  • "Walmart is secretly planning to join the metaverse," according to CNBC writer Lauren Thomas, who released a piece on January 16. According to seven US Patent and Trademark Office filings, this is the case (USPTO).
  • Cryptocurrency solutions, blockchain technology, and non-fungible token (NFT) assets are all mentioned in the trademark registrations. Downloadable software that may use digital currency and concepts such as augmented reality is described in one specific file.
  • Walmart informed the reporter in a statement that the international retailer is "continuously studying how emerging technology may affect future shopping experiences." Walmart, on the other hand, refused to disclose Thomas about the seven particular trademarks.
  • "We're always exploring new concepts," a Walmart official told the reporter. "Some ideas turn into goods or services that reach customers. We test, iterate, and learn from some of them."
  • Another USPTO application from Walmart mentions a virtual reality (VR) game that includes a virtual version of a Walmart shop and a large number of the retailer's products. Healthcare items, personal care products, patio furniture, electronics, appliances, fashion, and athletic goods might all be represented by virtual things, or NFTs.
  • Walmart is hoping to employ a "digital currency and cryptocurrency product lead" in mid-August 2021, according to the petition. "As Walmart's digital currency/cryptocurrency lead, you'll be in charge of establishing the digital currency strategy and product roadmap," the job posting read at the time.
  • Walmart joins a slew of other merchants and well-known brands in attempting to profit from metaverse concepts, NFT technology, and Web3. Samsung, Gap, Adidas, Nike, Hennessy, Coca-Cola, and Pepsi-Cola are among the companies that have gone headfirst into the burgeoning blockchain business.
  • Crocs, Urban Outfitters, Ralph Lauren, and Abercrombie & Fitch have all submitted trademark applications related to digital collectibles and blockchain technology with the USPTO.
  • The seven trademarks aren't the only ones that mention blockchain technology and cryptocurrency that Walmart has registered. Walmart was revealed to have submitted a patent in August 2019 for the construction of a stablecoin idea.
  • "The digital money may be tied to the US dollar and only be used at a limited number of merchants or partners." In other cases, the digital currency may be used almost anyplace. "The digital currency can provide a fee-free or low-cost location to deposit wealth that can be spent, for example, at stores and simply converted to cash if needed," according to Walmart's 2019 filing.

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