JAN 16 202210:32 AM EST
Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of non-fungible tokens, or NFTs.
The big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.
According to the U.S. Patent and Trademark Office, Walmart filed the applications on Dec. 30.
In total, seven separate applications have been submitted.
A spokesperson from Walmart didn’t immediately respond to CNBC’s request for comment.
“They’re super intense,” said Josh Gerben, a trademark attorney. “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 said that ever since Facebook announced it was changing its company name to Meta, signaling its ambitions beyond social media, businesses have been rushing to figure out how they will fit into a virtual world.
www.cnbc.com
Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of non-fungible tokens, or NFTs.
The big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.
According to the U.S. Patent and Trademark Office, Walmart filed the applications on Dec. 30.
In total, seven separate applications have been submitted.
A spokesperson from Walmart didn’t immediately respond to CNBC’s request for comment.
“They’re super intense,” said Josh Gerben, a trademark attorney. “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 said that ever since Facebook announced it was changing its company name to Meta, signaling its ambitions beyond social media, businesses have been rushing to figure out how they will fit into a virtual world.
Walmart is quietly preparing to enter the metaverse
Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of NFTs.
