Files with the US Patent and Trademark Office indicate that Walmart may be planning to create its own cryptocurrency and non-fungible token (NFT) collection.
On December 30, Walmart filings showed that it intended to buy new trademarks to manufacture and sell virtual goods such as electronics, dรฉcor, toys, sporting goods, and personal care products. Separately, the company also said it would offer virtual currency and NFTs, according to CNBC.
While the retail giant did not comment on the specific findings, the company told CNBC that it is "continually exploring how emerging technologies can shape future shopping experiences."
โWe are trying new ideas all the time,โ Walmart also said. โSome ideas become products or services that reach customers. And some of us test them, iterate and learn.โ
Josh Gerben, a trademark attorney, told CNBC that ever since Facebook announced it was changing its name to Meta and showed a desire to move beyond social media, other companies have explored how they could keep up with the times to fit a new world. increasingly digital world.
Gerben predicted that more retailers will want to create an ecosystem around the virtual world as consumers become more familiar with the metaverse and elements of the blockchain.
He cited clothing retailers Urban Outfitters, Ralph Lauren and Abercrombie & Fitch that have registered trademarks with the intention of opening some kind of virtual store. Additionally, Gap has started selling NFTs of its logo hoodies that range in price from $8.30 to $415 and come with a physical hoodie. Under Armor and Adidas also debuted NFTs that sold out last month.
The Hill has reached out to Walmart for comment.
Last year, Walmart made crypto-related headlines after a fake press release was published announcing Walmart customers will soon be able to "seamlessly make payments with cryptocurrencies."
