Walmart Could Enter the Metaverse World

It looks like the retail giant could enter the world of Metaverse with patent applications that show it plans to create its own cryptocurrency and NFT collection. The multinational retailer filed several new trademark applications with the United States Patent and Trademark Office on Dec. One of the submissions includes the company's brand name and logo in virtual reality (VR) and augmented reality (AR), and plans to offer "physical fitness training services" on VR and AR. The company has filed for a total of seven patents, including three under its current advertising division "Walmart Connect". Applications included plans to create and sell "virtual goods" such as electronics, toys, appliances, clothing and home decorations. There was also talk of a "digital currency" and opportunities to buy and sell NFTs. In August, the retail giant posted a job posting for “digital currency and crypto product leader” to drive its digital currency strategy. The job posting has since been removed, but it is not yet clear whether the position has been filled. In October, Walmart partnered with crypto ATM company Coinstar and cryptocurrency exchange Coinme to install 200 Bitcoin ATMs at its stores in the United States. In addition, the company has been using blockchain technology for supply chain management, customer markets and smart devices since 2018. According to Morgan Stanley analysts, Metaverse could present an $8 trillion opportunity for retailers.