Walmart has filed 7 trademarks.
Retail behemoth, Walmart is planning to enter Metaverse space and create its cryptocurrency.
According to a CNBC report, the company has filed 7 trademarks during December 2021 indicating its wish to sell virtual goods, provide digital currency, NFTs, etc.
Walmart told CNBC that it is “continuously exploring how emerging technologies may shape future shopping experiences.”
“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, how they’re going to address the metaverse and the virtual world that appears to be coming or that’s already here.”Josh Gerben, a trademark lawyer.
Metaverse is becoming the go-to segment for many traditional companies.
The space received an enormous amount of attention when Facebook rebranded itself to Meta, signalling a shift in its long-term vision. The social media giant has even formed an investment fund to build Metaverse.
Just a month after Facebook’s rebranding, sports equipment manufacturer Nike followed the suit and created NIKELAND in Metaverse space through the popular game Roblox.
Furthermore, it acquired a startup that specializes in creating digital sneakers backed by Non-Fungible Tokens (NFT).
Metaverse is a digital reality that combines aspects of Social Media, Online Gaming, Augmented Reality (AR), Virtual Reality (VR), and Cryptocurrencies to allow users to interact virtually, upgrading digital experience from 2D screens and scrolling to virtual 3D environments.
It is touted as the next big thing. This is causing many companies the Fear of Missing Out (FOMO). Maybe, that’s why they are rushing to jump on the bandwagon.
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