Report: Walmart Trademark Filings Hint at Retailer’s Intent to Produce Metaverse and NFT Concepts

Report: Walmart Trademark Filings Hint at Retailer’s Intent to Produce Metaverse and NFT Concepts

According to a latest report, the American multinational retail company that operates a sequence of shops, Walmart Inc., is seemingly prepping to enter the trade of non-fungible token (NFT) expertise and metaverse ideas.

Walmart USPTO Trademark Filings Are Littered With Descriptions of NFTs, Blockchain Tech, Digital Collectibles, Metaverse, and Virtual Department Store Games

  • On January 16, CNBC contributor Lauren Thomas revealed a report that claims “Walmart is quietly getting ready to enter the metaverse.” That’s in accordance with seven filings stemming from the U.S. Patent and Trademark Office (USPTO).
  • The trademark filings talk about cryptocurrency options, blockchain expertise, and non-fungible token (NFT) belongings. One particular submitting describes downloadable software program that may leverage digital currencies and ideas like augmented actuality.
  • In an announcement despatched to Thomas, Walmart instructed the reporter that the multinational retail company is “repeatedly exploring how rising applied sciences could form future purchasing experiences.” However, Walmart declined to inform Thomas concerning the seven particular logos.
  • “We are testing new concepts on a regular basis,” a Walmart spokesperson stated to the reporter. “Some concepts turn into services or products that make it to prospects. And some we take a look at, iterate, and study from.”
  • Another Walmart USPTO submitting talks a few digital actuality (VR) recreation that incorporates a digital model of a Walmart retailer and a large number of items the retail chain sells. The digital gadgets or NFTs may signify healthcare gadgets, private care merchandise, patio furnishings, electronics, home equipment, attire, and sporting items.
  • The submitting follows Walmart looking to hire a “digital foreign money and cryptocurrency product lead” in mid-August 2021. “As digital foreign money/ cryptocurrency lead at Walmart you’ll be liable for creating the digital foreign money technique and product roadmap,” the Walmart job itemizing stated on the time.
  • Walmart follows a myriad of outlets and well-known manufacturers attempting to capitalize on metaverse ideas, NFT tech, and Web3. Companies which have jumped headfirst into the rising blockchain trade embrace Samsung, Gap, Adidas, Nike, Hennessy, Coca-Cola, and Pepsi-Cola.
  • The corporations Crocs, Urban Outfitters, Ralph Lauren, and Abercrombie & Fitch have additionally filed USPTO logos tied to digital collectibles and blockchain expertise.
  • The seven logos will not be the one logos and patents Walmart has filed that debate blockchain expertise and cryptocurrencies. In August 2019, it was discovered that Walmart filed a patent that talks concerning the creation of a stablecoin idea.
  • “The digital foreign money could also be pegged to the U.S. greenback and obtainable to be used solely at chosen retailers or companions. In different embodiments, the digital foreign money is accessible to be used wherever. The digital foreign money can present a fee-free, or fee-minimal place to retailer wealth that may be spent, for instance, at retailers and, if wanted, simply transformed to money,” Walmart’s 2019 filing explains.

What do you concentrate on Walmart’s seven logos that debate blockchain tech, NFTs, and crypto belongings? Let us know what you concentrate on this topic within the feedback part beneath.

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