Walmart Also Challenges the Metaverse

Trademark Application Filed with the US Patent Office
Also Issuing Proprietary Virtual Assets and NFTs

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] There are observations that Walmart, the largest retail chain in the United States, has begun procedures to enter the metaverse. To this end, Walmart is reportedly also considering issuing its own virtual assets and non-fungible tokens (NFTs).

On the 16th (local time), CNBC confirmed that Walmart filed a patent application with the United States Patent and Trademark Office (USPTO) on December 30 last year for the sale of virtual goods such as electronics, sports equipment, and toys.

To sell products in the metaverse, Walmart has submitted a total of seven trademark application documents to the USPTO. Additionally, Walmart is also exploring ways to provide virtual assets and NFTs to customers.

Walmart stated in a press release, "We are continuously considering how new technologies can shape the future shopping experience."

CNBC cited an insider familiar with the matter, saying, "Walmart's move appears to indicate that they have already prepared many plans related to the metaverse, which has emerged as the next-generation future growth engine," and "It also means there has been significant internal progress."

Walmart's entry into the metaverse has already been anticipated.

In fact, last August, Walmart posted job openings on its official website for positions related to "cryptocurrency-related investments and partnerships" and "development of digital currency strategies and product roadmaps."

Furthermore, in December last year, Brett Biggs, Walmart's Chief Financial Officer (CFO), mentioned during a conference call that "the company is open to allowing customers to pay with cryptocurrency if demanded."

This content was produced with the assistance of AI translation services.