Walmart wants its own cryptocurrency and enter the metaverse

Walmart is already working on the future and paving the way for embrace the metaverse, create your own cryptocurrency and develop your own collection of non-fungible tokens or NFTspublished CNBC.

The retail chain presented at the end of December various trademarks that demonstrate their intent to manufacture and sell virtual goods, including electronics, home decorations, toys, sporting goods, and personal care products.

According to the information, Walmart filed with the US Patent and Trademark Office, seven separate applications on December 30.

Through a statement, the company said it is “continuously exploring how emerging technologies can shape future shopping experiences”but declined to give details about the specific filings for the trademarks.

The company ensures that they test ideas all the time and that some end up becoming products or services that reach customers and others that do not.

″(The filings are) super intense,” Josh Gerben, a trademark attorney, told CNBC. “There is a lot of language in these, which shows that there is a lot of planning behind the scenes on how they will approach cryptocurrency, how they will approach the metaverse, and the virtual world that seems to be comingor that is already here.”

Gerben explained that since Facebook announced its move to Meta, companies have been scrambling to figure out how they will fit into a virtual world.

Gerben said that as consumers become more familiar with the metaverse and the items stored on the blockchain, more retailers will want to create their own ecosystemnot to be left behind.

For Frank Chaparro, director of crypto information services firm The Block, many retailers were latecomers to e-commerce and are still reeling from that mistake, so they don’t want to miss the metaverse.

“I think it’s beneficial for any retail business,” Chaparro said. “And even if it turns out to be a fad, there’s not a lot of reputational damage just trying something weird like giving some customers an NFT in a giveaway, for example.”

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