Is Walmart Ready to Enter Metaverse?

Retail giant Walmart Inc. appears to be gearing up to enter the metaverse, with a patent filing indicating that it plans to create its own collection of cryptocurrencies and NFTs.

The multinational retailer filed several new trademarks with the USPTO on Dec. 30, but they weren’t noticed until Jan. 16 Report Additional information provided by CNBC reveals Walmart’s ambitions.

Walmart filed a total of seven patent applications at the time, three of which belonged to its existing advertising division, “Walmart Connect.”

This application Includes plans to create and sell “virtual goods,” including electronics, toys, appliances, clothing and home decor, among others. Also mentioned are “digital currencies” and “digital tokens,” as well as opportunities to buy and sell NFTs.

At the same time, a separate application Proposed plans to trademark the Walmart brand name and logo in virtual reality (VR) and augmented reality (AR), and potentially introduce “physical training services” in VR and AR.

This is how Walmart envisions shopping #metaverse.

idea? pic.twitter.com/5l7KhoBse7

— Ren Di Huang (@DigitalisHomo) January 3, 2022

It’s the latest in a string of recent events that show Walmart’s interest in the Metaverse. In August, the Retail giant lists a job opening Seek “Digital Currency and Crypto Product Leadership” to drive digital currency strategy.

The job listing has since been removed, but it is unclear whether the position has been filled. Searching for a person working at Walmart on Linkedin yielded no results.

Back in October, Walmart also partnered with crypto ATM company Coinstar and crypto cash exchange Coinme, Install 200 Bitcoin ATMs in its stores across the United States.

also, Walmart uses blockchain technology Since 2018 for supply chain management, customer market and smart appliances.

related: Fake News: Litecoin Price Surges 35% After Walmart Adoption Scam

Metaverse could be an $8 trillion opportunity for retailers, according to Morgan Stanley analysts.

Walmart sales hit $11.1 billion in Q3 2021 according to to Digital Commerce 360​​. Walmart is the largest private employer in the United States, with a market value of more than $406 billion. It operates supermarket chains, discount department stores and grocery stores.