Walmart Trademark Filings Hint at Retailer’s Intent to Produce Metaverse and NFT Concepts – Bitcoin News

A recent report claims that Walmart Inc. (an American multinational retailer corporation) is preparing to enter the non-fungible token industry and metaverse concepts.

Walmart USPTO Trademark Filings Full of Descriptions Of NFTs. Blockchain Tech. Digital Collectibles. Metaverse. And Virtual Department Store Games

  • On January 16, CNBC contributor Lauren Thomas published a report that says “Walmart is quietly preparing to enter the metaverse.” That’s according to seven filings stemming from the U.S. Patent and Trademark Office (USPTO).
  • Trademark filings include information about cryptocurrency solutions, blockchain technology and assets that are non-fungible tokens (NFT). One filing describes software which can be downloaded and used to leverage digital currencies, concepts such as augmented reality.
Walmart had one trademark application filed at the USPTO. These applications were filed by Walmart on December 30, 2021.
  • In a statement sent to Thomas, Walmart told the reporter that the multinational retail corporation is “continuously exploring how emerging technologies may shape future shopping experiences.” However, Walmart declined to tell Thomas about the seven specific trademarks.
  • “We are testing new ideas all the time,” a Walmart spokesperson said to the reporter. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”
  • A Walmart U.S. Patent Office filing discusses a VR game. It features a virtual Walmart store, and many of the goods that retail chains sell. These virtual products or NFTs can be used to represent personal care items, healthcare, electronic, appliance, clothing, sporting and other goods.
  • The filing follows Walmart looking to hire a “digital currency and cryptocurrency product lead” in mid-August 2021. “As digital currency/ cryptocurrency lead at Walmart you will be responsible for developing the digital currency strategy and product roadmap,” the Walmart job listing said at the time.
  • Walmart is one of many well-known brands and retailers that are trying to capitalise on the metaverse, NFT technology, and Web3. Gap and Adidas are among the many companies who have leapt into the emerging blockchain industry.
  • The companies Crocs, Urban Outfitters, Ralph Lauren, and Abercrombie & Fitch have also filed USPTO trademarks tied to digital collectibles and blockchain technology.
  • These seven trademarks do not include all the patents filed by Walmart that address blockchain technology or cryptocurrencies. Walmart had filed an August 2019 patent which discussed the creation of stablecoin concepts.
  • “The digital currency may be pegged to the U.S. dollar and available for use only at selected retailers or partners. Other embodiments of the digital currency are available to be used wherever. The digital currency can provide a fee-free, or fee-minimal place to store wealth that can be spent, for example, at retailers and, if needed, easily converted to cash,” Walmart’s 2019 filing explains.
In this story, tags
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What do you think about Walmart’s seven trademarks that discuss blockchain tech, NFTs, and crypto assets? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman is an active participant in the cryptocurrency community from 2011. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for News, with over 5,000 articles on disruptive protocols.

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