Retail giant Walmart intends to maintain its magnanimous presence in the metaverse & physical world with-over series of patents covering digital currencies, virtual goods & NFTs, CNBC reported.
Mark Zuckerbergerled Facebook opened flood gates for the discussions and the actions about metaverse after changing his iconic brand name to Meta. Until Zuckerberg made his move, discussions fragmented in-terms of cryptocurrencies, NFTs & alternate universes for online gaming. Meta may have consolidated them, but Walmart’s latest move will likely bring them all under one roof.
As CNBC reports, as of December 30, near the end of 2021, Walmart filed a total of 7 trademark applications with the U.S. Patent & Trademark Office (USPTO). These include financial services patents for digital currencies or tokens, and a downloadable software platform for managing digital tokens, digital & blockchain assets, and cryptocurrencies.
Walmart’s virtual merchandise will not limited to clothing, books or games, but also include home appliances, musical instruments, pet products, jewelry, beauty & personal care products, indoor & outdoor furniture, arts & craft supplies and holiday & celebrations among other-things.
A trademark attorney told CNBC that the app revealed intense background planning about how the retailer want to enter metaverse. However, a Walmart spokesman dismissed it as “an experiment in researching new technologies.” Walmart’s push toward digitization is similar to attempts by other popular brands like Nike, Abercrombie and Fitch and Ralph Lauren, which have also filed trademark applications to open their own virtual stores, CNBC reported.
Some brands such as Gap, Adidas & Under Armor have already released their NFTs, some of which sold out within hours of their release. We still have to wait to see how much and how Walmart will enter the metaverse with its Crypto products, but it is likely to be hot.