Cryptocurrency and NFTs Planned by Walmart. Patent and trademark filings filed with the United States Patent and Trademark Office. Indicate that Wal-Mart is aiming to launch a cryptocurrency and non-fungible token. Collection of its own in the near future. Following the paperwork. It appears that the corporation is ready to meet with clients. Wherever in the developing metaverse.
According to a recent trademark application, the company plans to manufacture. And sell virtual goods in addition to physical goods such as electronics. Decor, toys, athletic equipment, and personal-care products.
In addition to representing a significant step forward for Walmart. As it studies methods to participate in the metaverse. A virtual environment that integrates components of both digital and physical technology. Even though previously reported by CNBC. The applications also represent a significant step forward for the retail behemoth. In August, Wal-Mart posted a job listing on its website for a “digital currency strategy and product roadmap”. As well as a position to identify “crypto-related investment and collaborations.”
Walmart filed a slew of applications with the federal government on December 30. Including three for a financial exchange for virtual currency and advertising. Under the name “Walmart Connect” — which also happens. To be the name of the company’s existing digital advertising venture. And three for a financial exchange for virtual currency and advertising. Under the name “Walmart Connect”. Which also happens to be the name of the company’s existing digital advertising venture.
In addition, applications for shopping services such as “Verse to Store,” “Verse to Curb,”. And “Verse to Home” have been filed for consideration. Additionally, Walmart is pursuing trademarks that would allow it to use the Walmart name. Plus “fireworks” emblem to promote health-care services and education. Among other things, through the use of virtual and augmented reality technologies.
Walmart declined to comment on the papers of Cryptocurrency and NFTs
Upon asking for comment on the papers. A Walmart spokesman did not immediately respond to a message.
It was understood when they were filed that the corporation intended to use them. But the corporation has not yet put that plan into action in actuality. Until the trademarks were really put to use in a real-world context. They could not be registered as such.
A false announcement regarding Walmart’s cryptocurrency plans went viral in September. Causing the price of Litecoin, a relatively obscure cryptocurrency, to spike substantially. For a brief period of time, before tumbling back to earth. Walmart has not responded to requests for comment on the scam. Wal-Mart would begin taking Litecoin payments from its customers in the near future. It is according to the falsified news release.
Walmart, on the other hand, has maintained its interest. In exploring its alternatives in that market. Initially launched in October, the Bentonville, Arkansas-based retailer. Is conducting a pilot program in which consumers can purchase Bitcoin. Through Coinstar kiosks located in select stores throughout the United States. It is being conducted in partnership with Walmart and includes 200 Coinstar kiosks in Walmart shops. Coinstar is well-known for its machines that allow customers to exchange U.S. coins for paper dollars or gift cards, and the retailer is collaborating on the Coinstar test.
As recently as early December, Walmart Chief Financial Officer Brett Biggs claimed. That the firm was open to allowing shoppers to pay with cryptocurrencies. If customers desired it. But that the company did not see a compelling need to deploy. Such capabilities at the time of speaking.