May 18, 2022

Walmart Files For Its Own Cryptocurrency As It Begins Metaverse Plans

2 min read

Walmart files for metaverse, to launch NFT and its own crypto

American international seller Walmart may have been making silent relocations about the metaverse, but as brand-new CNBC report recommends, the company is also seeking to develop its own cryptocurrency as well as a collection of nonfungible tokens (NFT)s.

Walmart Files 7 Applications With The U.S. Patent and Trademark Office

As part of its efforts towards preparation for the metaverse, the retail business filed a number of new hallmarks in late December that revealed its intent to produce and offer a range of virtual items consisting of interior designs for houses, electronic devices, sporting products, and even personal care items. And now, a different filing may have simply confirmed the business’s plans to likewise provide its cusfomers, a virtual currency and NFTs too.

On the other hand, as confirmed by the U.S. Patent and Trademark Office, Walmart has actually filed no less than 7 separate applications so far. And they were sent on December 30, 2021.

Major Brands Intensify Metaverse Preparations

Since Facebook officially announced its rebranding to Meta, hinting at plans beyond social networks, other significant brand names have been bring out plans of their own. And now, Walmart might just be the newest brand name to board the train heading for the metaverse.

Remember that shoes business, Nike also filed a series of trademark applications in early November.

As if that wasn’t enough, Nike went on to work together with Roblox later on that month. According to the company, the collaboration happened in order to produce a virtual world called Nikeland. Later in December, Nike also acquired the virtual tennis shoe business RTFKT.

And there are likewise reports that clothing merchants Ralph Lauren, Abercrombie & & Fitch, and Urban Outfitters have all submitted trademarks just recently, apparently ahead of opening their virtual store.

NFT Craze Still On?

According to the CNBC report, Walmart will also be releasing its own NFT collection. However this does not precisely come as a surprise.

With numerous feeling the NFT trend from typical investors to celebs.

In addition, numerous big brand names and sports clubs have all caught the NFT buzz as a way of getting closer to their customer base while also using them some benefits in return.

Remember that Adidas NFT launching offered out in December, and so did Under Armour’s.

The post Walmart Files For Its Own Cryptocurrency As It Begins Metaverse Plans appeared first on CoinGape.