Walmart Is the Latest to Venture Into the Metaverse, Trademark Filings Show

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Metaverse Blockchain NFT
Walmart Is the Latest to Venture Into the Metaverse, Trademark Filings Show

US-based multinational retail company Walmart is reportedly working toward entering the metaverse with plans to create its own cryptocurrency and NFTs, CNBC reports, January 16, 2022.

Walmart Joins the Metaverse Bandwagon

According to a recent report by CNBC, Walmart is burning the midnight oil to enter the rapidly developing metaverse space.

Specifically, the company filed several new trademarks in December 2020 that hint towards its intention to make and sell virtual goods that include electronics, home decorations, toys, sporting goods, and personal care products.

In a trademark filed separately, the firm noted it would also offer virtual currency and non-fungible tokens (NFTs) to its users.

Notably, Walmart filed the applications on December 30, the US Patent and Trademark Office reveals.

A total of seven separate applications were submitted by Walmart.

While Walmart stated it is “continuously exploring how emerging technologies may shape future shopping experiences”, it declined to comment on the specific trademark filings.

The company added:

“We are testing new ideas all the time. Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”

What’s more interesting is to see what Josh Gerben, a noted trademark attorney, had to say about Walmart’s trademark filings.

Gerben said:

“There’s a lot of language in these, which shows that there’s a lot of planning going on behind the scenes about how they’re going to address cryptocurrency, how they’re going to address the metaverse and the virtual world that appears to be coming or that’s already here.”

Gerben added that Facebook’s rebranding to Meta has forced all major companies around the world to think of ways to remain competitive in the virtual economy of tomorrow.

It should be recalled that in November last year, sports brand Nike filed a slew of trademark applications that indicated its plans to sell virtual branded sneakers and apparel. Shortly after, the company announced it had allied with Roblox to create an online world called Nikeland.

Similarly, software giant Microsoft also has its eyes firmly set on the metaverse space as pointed out by the company’s CEO Satya Nadella a few days ago.

Aisshwarya Tiwari

Aisshwarya is currently working as the Chief Editor at crypto.news and holds more than 4 years of experience in the digital assets industry. He holds an undergraduate degree in Commerce with Honours and a post-graduate diploma in Liberal Studies. Before entering the crypto industry, Aisshwarya worked as an SAP Consultant for a global IT firm. He also cleared the CFA Level 1 exam before pivoting to the crypto industry due to its novel and exciting propositions.