Walmart Creates Its Own Cryptocurrency, NFTs, Enters Metaverse With Sales Of Virtual Goods

The last time Walmart was reportedly entering the crypto space, it turned out to be a giant Litecoin-promoting hack, that was quickly reversed, after it became clear that playful hackers had fabricated a press release. But there appears to be nothing fake about the latest news involving Walmart’s desire to ride the latest wave of crypto/web 3.0/metaverse/NFT euphoria, and as a result the big box retailer is boldly venturing into the metaverse with plans to create its own cryptocurrency and collection of non-fungible tokens, or NFTs.

According to CNBC, Walmart filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.  In total, seven separate applications have been submitted.

The patent applications were among a flurry the company filed on Dec. 30, including three under “Walmart Connect” – the name of the company’s existing digital advertising venture – for a financial exchange for virtual currency and advertising. Applications also were filed for “Verse to Store,” “Verse to Curb” and “Verse to Home” for shopping services. It’s also seeking trademarks to apply the Walmart name and “fireworks” logo to heath-care services and education in virtual and augmented reality.

“They’re super intense,” said Josh Gerben, a trademark attorney, quoted by CNBC. “There’s a lot of language in these, which shows that there’s a lot of planning going on behind the scenes about how they’re going to address cryptocurrency, how they’re going to address the metaverse and the virtual world that appears to be coming or that’s already here.” – READ MORE