Walmart Entering the Metaverse, Plans to Create Cryptocurrency and NFT Collection

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Image: Walmart

Walmart is making plans to enter the Metaverse, according to a handful of trademark applications and filings shared by the U.S. Patent and Trademark Office.

As spotted by CNBC, there are seven separate applications in total, some of which also indicate Walmart’s interest in creating its own cryptocurrency and collection of non-fungible tokens, otherwise known as NFTs. Now a trending topic thanks to tech giants such as Meta (Facebook), the Metaverse is a hypothetical future version of the internet in which users can explore and interact with one another in a virtual world courtesy of VR and other advanced technologies. It’s a concept that’s been teased in recent films such as Steven Spielberg’s Ready Player One.

Image: USPTO

“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,” CNBC wrote in its report. “In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.”

Walmart shared a video four years ago that seems to offer some indication of what the retail giant’s Metaverse might look like. Instead of a traditional website, users might have the option of pushing around a virtual cart and navigating 3D aisles to shop for goods in the future.

Source: CNBC

Tsing Mui
News poster at The FPS Review.

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