Walmart dives deep into the metaverse with crypto and NFTs

Posted: 20 January 2022 6:55 pm
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In the future, you could put on your virtual reality headset to visit Walmart’s metaverse store and buy whatever you want, say Walmart’s trademark filings.

Ever since Facebook renamed itself Meta Platforms (FB) to announce a huge commitment to the metaverse, companies have lined up to develop products and services to take advantage of the virtual new world. Walmart is the latest big company with plans to hop on the metaverse bandwagon.

Walmart’s metaverse includes digital goods and a cryptocurrency

Walmart (WMT) filed several trademarks with the US Patent and Trademark Office in December. The filings show plans to sell digital versions of its goods, including electronics, home decorations, toys, sporting goods and personal care products.

Customers could buy these items with a Walmart cryptocurrency. The trademark filings also include crypto exchange services using blockchain technology, a downloadable software application for e-commerce, augmented reality and crypto portfolio management.

Another filing reveals a virtual reality game. This might be Walmart’s metaverse store where users could buy digital goods and non-fungible tokens, or NFTs.

You can already buy Bitcoin at some Walmart stores

Venturing into the blockchain world isn’t something new for Walmart. In October 2021, customers in some US stores bought Bitcoin via ATM machines installed by Coinstar, according to a Reuters report.

Walmart is just the latest big company hopping into the metaverse

In November 2021, Nike (NKE) filed trademark applications with the goal of selling virtual sneakers and apparel. To achieve this, the company teamed up with Roblox (RBLX) to create an online world — Nikeland.

Gap (GPS) has also started selling NFTs of its sweatshirts, while Under Armour (UAA) and Adidas (OTC:ADDYY) sold NFTs last month.

Samsung also recently opened a digital version of its flagship store in the digital world of Decentraland.

At the time of publication, Kliment Dukovski did not own shares of any of the companies mentioned in this article.

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