Walmart plans to enter the metaverse

The world’s largest retailer Walmart is reportedly preparing to enter the metaverse space with plans to create its own cryptocurrency and NFT collections, CNBC reports.

According to public records, on 30 December 2021 the retailer filed seven trademark applications with the patent office. They indicate an intention to manufacture and sell virtual goods, including electronics, home decor, toys, sporting goods and personal care items.

Separately, the company plans to offer users a virtual currency and NFTs.

“They are very aggressive. They have a number of formulations that show that behind the scenes there is extensive discussion about how they intend to approach cryptocurrency, the metaverse, and the virtual world that seems to be looming”, said CNBC trademark attorney Josh Gerben.

According to him, after rename of Facebook to Meta and ambitions beyond the company’s social networks, they are rushing to clarify how they fit into the virtual space.

In August 2021, Walmart opened a vacancy for a head of product related to cryptocurrencies.

Earlier the retailer made the list of billionaire companies actively using blockchain.