Walmart filed several trademarks on December 30 that would allow them to sell virtual goods, currency, and NFTs to customers. Trademark serial number 97197301 states at one point “PROVIDING A VIRTUAL CURRENCY FOR USE BY MEMBERS OF AN ONLINE COMMUNITY VIA A GLOBAL COMPUTER NETWORK; FINANCIAL EXCHANGE OF VIRTUAL CURRENCY, IN THE FIELD OF NON-FUNGIBLE TOKENS (NFTS)”. The text itself goes on a lot longer, and there are several other additional trademarks to read too.
Walmart intends to create its own digital currency and NFTs, but it’s going to go a lot deeper than that. Looking at the trademarks shows that there is a lot of thought and care going into this blockchain project. Walmart is likely following the trend largely started by Meta (Formerly known as Facebook) in this particular industry. NFTs and blockchain token technology could change the entire way Walmart does digital sales and services. Even if it takes another year or longer for anything to be released, these trademarks signal Walmart’s inevitable entrance into the crypto space. These are all tools Walmart can use to create their own metaverse.
A Walmart metaverse
Imagine going shopping in a virtual Walmart, you put all your items in your basket, then checkout. Thirty minutes later, all your goods are delivered to your front door. This is just a small sample of what Walmart’s integration into NFTs, virtual tokens, and the metaverse can bring. While that may not seem very different from using an app to order your groceries, there are a few distinct differences. NFTs could represent the serial numbers on food and product packaging, ensuring you get exactly what you order. Walmart could potentially provide in-store discounts, incentives, and bonuses to people who stake their tokens. There is endless potential with how Walmart can integrate these concepts into their business model, and these trademarks are only the beginning.
As more big businesses move into the Metaverse, it will inevitably get more competitive and more similar trademarks will begin to appear. Walmart is trying to get a leg up in the industry by getting in early.