It appears that retail giant Walmart Inc. is preparing to enter the Metaverse, with patent filings suggesting it plans to create its own cryptocurrency and NFT collection.
The multinational retailer filed several new trademarks with the US Patent and Trademark Office on December 30, but they went unnoticed until January 16 report from CNBC shed more light on Walmart’s ambitions.
Walmart filed a total of seven patent applications at the time, including three under its existing “Walmart Connect” advertising division.
the applications These included plans to manufacture and sell “virtual goods,” including electronics, toys, appliances, clothing and home decor. There is also talk of a “digital currency” and a “digital token” and ways to buy and sell NFTs.
Now a separate one application proposes plans to trademark the Walmart brand name and logo in virtual reality (VR) and augmented reality (AR), with the possibility of introducing “physical fitness training services” in VR and AR.
This is how Walmart imagines shopping in the #metaverse.
Thoughts? pic.twitter.com/5l7KhoBse7
— Homo Digitalis (@DigitalisHomo) January 3, 2022
This is the latest in a series of recent events that indicate Walmart’s interest in the Metaverse. In August, the Retail giant has posted a job vacancy for a “Lead on Digital Currencies and Crypto Products” to drive digital currency strategy.
The job advertisement has since been removed, but it is unclear if the position has been filled. A Linkedin search for a person who works with the reel at Walmart yields no results.
Back in October, Walmart also partnered with crypto ATM company Coinstar and crypto cash exchange Coinme Install 200 Bitcoin ATMs at its stores in the United States.
In addition, Walmart used blockchain technology for supply chain management, customer marketplaces and smart appliances since 2018.
Related: Fake News: Litecoin Price Soars 35% After Walmart Adoption Scam
The Metaverse could offer retailers an $8 trillion opportunity, according to analysts at Morgan Stanley.
In the third quarter of 2021, Walmart had sales of $11.1 billion according to to Digital Commerce 360. Walmart is the largest private employer in the US with a market cap of over $406 billion. It operates a chain of hypermarkets, discount stores and grocery stores.
