The retail giant Walmart submitted a total of seven patent filings, signalling plans to create its own digital foreign money and NFT collection.
It appears that retail giant Walmart Inc. is getting ready to enter the Metaverse with patent filings indicating that it plans to create its personal cryptocurrency and NFT collection.
The multinational retailer filed countless new emblems with the U.S. Patent and Trademark Office on Dec. 30, however, they remained unnoticed till a Jan. sixteen document through CNBC shed greater light on Walmart’s ambitions.
Walmart filed a total of seven patent functions at the time, along with three underneath its existing advertising division “Walmart Connect”.
The purposes covered plans to create and promote “virtual goods,” including the likes of electronics, toys, appliances, apparel, and home decor. There’s also a “digital currency” and “digital token”, and opportunities to buy and promote NFTs.
Meanwhile, a separate application suggests plans to trademark the Walmart brand identity and emblem in virtual reality (VR) and augmented reality (AR), with the possibility of introducing “physical health education services” in VR and AR.
This is how Walmart envisions Shopping in the #Metaverse.
Thoughts? 💭 pic.twitter.com/5l7KhoBse7
— Homo Digitalis (@DigitalisHomo) January 3, 2022
This comes as the latest in a string of current occasions indicating Walmart’s hobby in the Metaverse. In August, the retail massive listed a job vacancy for a “digital foreign money and crypto product lead” to pressure digital currency strategy.
The job list has considered the fact that it was removed however it is uncertain whether the role used to be filled. A Linkedin search for an individual working at Walmart with the position turns over no results.
Back in October, Walmart additionally partnered with crypto ATM enterprise Coinstar and crypto-cash alternate Coinme to install 200 Bitcoin ATMs in its stores throughout the United States.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.