Walmart is quietly preparing to enter the metaverse
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One shopper holds a bag while shopping at a Walmart in San Leandro on Thursday, May 13, 2020.
David Paul Morris | Bloomberg | Getty Images
WalmartIt appears that the company is exploring new frontiers in metaverse, with plans for its own cryptocurrency as well as a collection of non-fungible tokens (NFTs).
A number of trademarks were filed by the big-box retailer late last month. They indicate that it intends to sell and make virtual goods. These include electronics, personal care products, sports goods and toys. The company also filed a separate application stating that it will offer virtual currencies and NFTs to its customers.
Walmart applied for the patents on December 30, according the U.S. Patent and Trademark Office.
Seven separate applications were submitted in total.
CNBC asked Walmart spokesperson for comments but they didn’t respond immediately.
They are “super intense,” he said. Josh GerbenA trademark lawyer. These documents contain a lot language, which indicates that there is a lot going on behind closed doors about cryptocurrency and how to deal with the metaverse.
Gerben claimed that it has been so ever since Facebook announced it was changing its company name to MetaBusinesses have been racing to find ways they can fit in a virtual world, further signaling their ambitions.
Nike filed a slew of trademark applicationsIt revealed its plans for selling virtually branded apparel and sneakers in November. It announced later that it had teamed up with RobloxYou can find more information here create an online world called Nikeland. It was December bought the virtual sneaker company RTFKTFor an unspecified amount.
Gerben said, “All of sudden, everyone feels like this is super real. We need to make certain our IP protection in the space.”
GapIt also began selling NFTsOne of the iconic logo sweatshirts. According to the apparel manufacturer, NFTs will come in four tiers with prices ranging between $8.30 and $415. They also include a physical jacket.
—CNBC’s Melissa RepkoThis reporting was contributed by you.
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