Walmart quietly entered the Metaverse world

Walmart quietly entered the Metaverse world

Walmart is preparing to create its own cryptocurrency and NFT collection. The company has filed a license with the US Patent and Trademark Office, setting the stage to meet customers in today’s burgeoning Metaverse.

This popular retailer was looking for several new brands in December 2021 and indicated that it intends to manufacture and sell virtual goods such as electronics, decoration, toys, sportswear and personal care products.

The move represents a major step forward for the retail giant as it explores to enter the Metaverse, a virtual world that combines aspects of digital technology. In August 2021, Walmart promoted its position to develop a “cryptocurrency strategy and product roadmap” and identified “cryptocurrency-related partners and investments,” according to a post. Post job vacancies on the company website.

This application is among many the company filed on Dec. 30, 2021, including three under “Walmart Connect” — the name of the company’s existing digital advertising business — for financial exchanges for virtual currency and advertising. Verse to Store, Verse to Curb, and Verse to Home shopping services are also requested.

“Walmart is constantly exploring how new technologies can shape future shopping experiences,” the company said. “At the moment we have nothing more to share, but it should be noted that we regularly file trademark applications as part of the renewal process.”

All submitted applications show that Walmart intends to use them but has not yet started implementing them.

Trademarks are only registered when they are actually used.

Walmart’s digital currency scheme was the subject of a well-known hoax back in September 2021, when a fake announcement prompted a brief rally in Litecoin, a relatively unpopular cryptocurrency. According to fake news, Walmart will allow its customers to pay with Litecoin.

Despite this, Walmart continues to explore the company’s capabilities in this space. In October 2021, retailer Bentonville launched a pilot program allowing customers to buy bitcoin at Coinstar kiosks in select stores across the US. Experiments with Coinstar, known for its vending machines that allow customers to exchange coins for bills or gift cards, include 200 kiosks in Walmart stores.

In early December 2021, Walmart CFO Brett Biggs said at an analyst conference that the company was willing to allow customers to pay with cryptocurrency if needed, but the company noted there was no need to rush to bring up a possibility.

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