Walmart has filed applications seeking trademarks for digital currency, software to manage cryptocurrency and other digital assets, and online retail services. The firm is also planning to create its non-fungible token collection.
Giant retailer Wal-Mart Inc. has filed documents with the U.S. Patent and Trademark Office that show it is preparing itself to enter the Metaverse. According to reports on CNBC, Wal-Mart sought several new trademarks last December showing it had plans to manufacture and sell virtual goods such as electronics, decor, toys, sporting goods, and personal care products.
Digital currency strategy and product roadmap
Walmart’s application represents a giant step in the retailer’s foray into the Metaverse, the emerging virtual world that blends aspects of digital technology. The firm, in August 2021, advertised a position to develop “the digital currency strategy and product roadmap” while identifying “crypto-related investment and partnership.”
The current flurry of applications made under “Walmart Connect” includes patents for a financial exchange for virtual currency and advertising. A different one was filed for “Verse to Store,” “Verse to Curb,” and “Verse to Home” for shopping services. The firm also seeks trademarks to apply the Walmart name and “fireworks” logo to healthcare services and education in virtual and augmented reality. The firm said in a statement:
“Walmart is continuously exploring how emerging technologies may shape future shopping experiences […] we don’t have anything further to share today, but it’s worth noting we routinely file trademark applications as part of the innovation process.”
Popular and very lucrative venture
Walmart joins a list of other companies that are jostling to enter the Metaverse or augmented reality. Some leading contenders include Nike, developing a Virtual Reality venture known as “Nikeland,” Gap, Urban Outfitters, Ralph Lauren, and Abercrombie.
The flurry of activities into the Metaverse has arisen following last year’s announcement by Facebook, now Meta founder Zuckerberg about his plans. There seem to be millions of dollars flowing into this popular and very lucrative venture.
Records show that Walmart had a vision about augmented shopping reality in the cyber-world over five years ago when they launched a tech firm called Mutual Mobile to make a demo of Walmart in the Metaverse. The video has since resurfaced and making rounds on social media with great hopes that it will be a little more impressive when it arrives!