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Walmart makes first steps into the metaverse with NFTs and crypto

Walmart makes first steps into the metaverse with NFTs and crypto

Walmart seems to be getting ready to jump into the metaverse. Recent trademark applications indicate that the company wants to set up its own NFTs and cryptocurrency, according to a report by American television company CNBC.

The supermarket chain filed for several trademarks on December 30, indicating plans to start selling virtual goods, including electronics, toys, appliances, sports equipment, clothing, home furnishings and more. There are talks of offering a digital currency to customers, as well as the ability to buy and sell NFTs. It seems Walmart intends to dominate the metaverse, or virtual universe, in this way.

Furthermore, another application suggests that the company might want to offer "physical fitness training services" and "health and nutrition classes" using augmented reality (AR) and virtual reality (VR) environments.

As noted by Bloomberg, Walmart has also filed trademarks for the names "Verse to Home," “Verse to Curb," and "Verse to Store," a hint that Walmart may be preparing a virtual shopping experience. The applications are publicly available on the US Patent and Trademark Office site, some of which are listed under the name "Walmart Connect," the supermarket giant's digital advertising effort.

"Walmart is continually exploring how emerging technologies can shape future shopping experiences," Walmart spokesperson Carrie McKnight told the paper. "We have nothing further to share today, but it's worth noting that we always file trademark applications as part of the innovation process."

Last August, Walmart posted a vacancy for a cryptocurrency product specialist, one of the first signs of Walmart's growing interest in the metaverse. Other major brands are also participating in the metaverse movement, including Nike which is looking to cash in on NFTs and virtual sneakers, Adidas which sold out its Into the Metaverse NFT collection in a matter of seconds and Gap which is offering NFTs of its hoodies.

As recently as September 2021, Walmart was in the news with a rumor, which ultimately turned out to be false, that it would adopt Litecoin (LTC) as its currency. In the meantime, however, Walmart really appears to want to hitch a ride on the current crypto wave. For many companies there is no escape, as more and more consumers prefer cryptocurrencies to traditional currencies such as the euro and the dollar.

Luc Smits van Oyen
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