Walmart looks to be pushing into the metaverse, including creating its own cryptocurrency and non-fungible tokens (NFTs), based on filings with the U.S. Patent and Trademark Office.
The retail giant would be the latest corporate player to wade into the emerging industry of virtual worlds—referred to as the metaverse. This could include offering digital versions of products in the form of NFTs through virtual, metaverse experiences, all paid for with a Walmart token.
At least three filings made Dec. 30 with the USPTO indicate plans at Walmart to expand into digital assets and virtual experiences. Walmart didn’t immediately respond to a request for comment from Barron’s.
The trademark filings include the provision of a Walmart virtual currency, in addition to cryptocurrency exchange services using blockchain technology. A separate application to the USPTO describes downloadable software for uses ranging from e-commerce to augmented reality as well as managing a portfolio of cryptocurrencies.
Another filing details the possibility of a virtual reality game or online retail service featuring a marketplace of digital goods authenticated by NFTs. These goods could range from home appliances to sporting goods, beauty products, patio furniture, and musical instruments—all listed in the trademark application.
Walmart (ticker: WMT) stock wasn’t trading Monday due to the Martin Luther King, Jr. Day Holiday. The shares have climbed 0.3% so far in 2022, compared with a 2.8% decline for the S&P 500 index.
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