Walmart Plans To Enter the Metaverse , With NFTs, Crypto.
The retail giant filed seven trademarks before the end of 2021 that point to a likely shift into selling virtual products.
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Among the items specified in the trademarks are "digital currency and a digital token.".
Also included in the trademarks are "virtual merchandise," including electronics and appliances.
Walmart issued a non-committal statement in response to the news.
[Walmart is] continuously exploring how emerging technologies may shape future shopping experiences, Walmart Statement, via CNBC.
We are testing new ideas all the time.
Some ideas become products or services that make it to customers.
And some we test, iterate and learn from, Walmart Statement, via CNBC.
Analysts say that the trademark filings are big news for the future of the retail landscape.
[The filings are] super intense.
, Josh Gerben, Trademark Attorney, via CNBC.
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, , Josh Gerben, Trademark Attorney, via CNBC.
... how they’re going to address the metaverse and the virtual world that appears to be coming or that’s already here, Josh Gerben, Trademark Attorney, via CNBC.
Walmart joins a number of major brands that have begun to incorporate digital currencies and NFTs.
All of a sudden, everyone is like, ‘This is becoming super real and we need to make sure our IP is protected in the space.', Josh Gerben, Trademark Attorney, via CNBC.
Analysts also say current corporate focus on shifting to the metaverse is a "win win" for companies and consumers.
Even if it just turns out to be a fad, there’s not a lot of reputation damage in just trying something weird out like giving some customers an NFT in a sweepstake, for instance, Josh Gerben, Trademark Attorney, via CNBC