Walmart has all the earmarks of being prepared for a leap into the metaverse. Recent trademark applications demonstrate the organization is looking to set up its own NFTs and cryptocurrency, as per a report from CNBC.
The retail giant filed for several trademarks on December 30th, recommending plans to begin selling virtual goods, including electronics, toys, appliances, sporting equipment, apparel, home decor, and more, as noted by CNBC.
“They’re super intense,” said Josh Gerben, a trademark attorney. “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.”
Gerben said that since the time Facebook announced it was changing its organization name to Meta, signaling its ambitions beyond social media, businesses have been hurrying to sort out how they will squeeze into a virtual world.
There’s mention of offering clients a digital currency, just as the amazing opportunity to buy and sell NFTs. In the Meanwhile, another application subtleties conceivable “physical fitness training services” and “classes in the field of health and nutrition” that could happen in increased reality (AR) and virtual reality conditions (VR) – the organization made a separate filing for the use of its name and logo in VR and AR.
As pointed out by Bloomberg, Walmart additionally recorded trademark for the names “Verse to Home,” “Verse to Curb,” and “Verse to Store,” a clue that Walmart may be preparing a virtual shopping experience (that hopefully doesn’t look like the one created for the company in 2017).
The filings are publicly accessible on the US Patent and Trademark Office’s site, some of which are recorded under the name “Walmart Connect,” the retailer’s digital advertising endeavor. You can access the filings by searching for “Walmart” or “Walmart Connect” on the Trademark Electronic Search System (TESS).
“Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” Walmart spokesperson Carrie McKnight told The Verge. “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.”
Last August, Walmart posted a job listing for a cryptocurrency product specialist, one of the main indications of Walmart’s developing revenue in the metaverse. Other retailers are participating in the metaverse development also, with Nike looking to cash in on NFTs and virtual sneakers, Adidas selling out of its Into the Metaverse NFT collection, and Gap offering NFTs of its hoodies.
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