According to a recent report, the American multinational retail corporation that operates a chain of department stores, Walmart Inc., is seemingly prepping to enter the industry of non-fungible token (NFT) technology and metaverse concepts.
Walmart USPTO Trademark Filings Are Littered With Descriptions of NFTs, Blockchain Tech, Digital Collectibles, Metaverse, and Virtual Department Store Games
On January 16, CNBC contributor Lauren Thomas published a report that says “Walmart is quietly preparing to enter the metaverse.” That’s according to seven filings stemming from the U.S. Patent and Trademark Office (USPTO).
The trademark filings discuss cryptocurrency solutions, blockchain technology, and non-fungible token (NFT) assets. One specific filing describes downloadable software that can leverage digital currencies and concepts like augmented reality.
One of the trademark applications Walmart filed with the USPTO. The retail giant filed the applications on December 30, 2021.
In a statement sent to Thomas, Walmart told the reporter that the multinational retail corporation is “continuously exploring how emerging technologies may shape future shopping experiences.” However, Walmart declined to tell Thomas about the seven specific trademarks.
“We are testing new ideas all the time,” a Walmart spokesperson said to the reporter. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”
Another Walmart USPTO filing talks about a virtual reality (VR) game that features a virtual version of a Walmart store and a great number of goods the retail chain sells. The virtual items or NFTs could represent healthcare items, personal care products, patio furniture, electronics, appliances, apparel, and sporting goods.
The filing follows Walmart looking to hire a “digital currency and cryptocurrency product lead” in mid-August 2021. “As digital currency/ cryptocurrency lead at Walmart you will be responsible for developing the digital currency strategy and product roadmap,” the Walmart job listing said at the time.
Walmart follows a myriad of retailers and well known brands trying to capitalize on metaverse concepts, NFT tech, and Web3. Companies that have jumped headfirst into the growing blockchain industry include Samsung, Gap, Adidas, Nike, Hennessy, Coca-Cola, and Pepsi-Cola.
The companies Crocs, Urban Outfitters, Ralph Lauren, and Abercrombie & Fitch have also filed USPTO trademarks tied to digital collectibles and blockchain technology.
The seven trademarks are not the only trademarks and patents Walmart has filed that discuss blockchain technology and cryptocurrencies. In August 2019, it was discovered that Walmart filed a patent that talks about the creation of a stablecoin concept.
“The digital currency may be pegged to the U.S. dollar and available for use only at selected retailers or partners. In other embodiments, the digital currency is available for use anywhere. The digital currency can provide a fee-free, or fee-minimal place to store wealth that can be spent, for example, at retailers and, if needed, easily converted to cash,” Walmart’s 2019 filing explains.
Tags in this story
“The Masked Singer” NFTs, Abercrombie & Fitch, Adidas, banks, Blockchain, Coca-Cola, Crocs, Cryptocurrency, Digital Currency, Gap, Hennessy, NFTs, Nike, Pepsi Cola, Ralph Lauren, Samsung, Seven Trademarks, stablecoin concept, Urban Outfitters, US, USPTO, Walmart, walmart bitcoin, Walmart Coin, walmart crypto, walmart crypto payments, walmart cryptocurrency, walmart digital currency
What do you think about Walmart’s seven trademarks that discuss blockchain tech, NFTs, and crypto assets? Let us know what you think about this subject in the comments section below.
Jamie Redman
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
More Popular News
In Case You Missed It
Near Foundation Raises $150 Million to Bolster Web3 Adoption
On Thursday, the Near Foundation announced the project has raised $150 million from strategic investors such as Three-Arrows Capital, a16z, Mechanism Capital, Dragonfly Capital, and Circle Ventures. Following the announcement, the Near protocol’s native crypto asset jumped more than 7% … read more.
