Walmart could enter the metaverse with crypto and NFTs

[Shawn Knight]

What just happened? Walmart could be preparing for a big push into the metaverse. The big-box retailer recently filed a total of seven patents related to the topic, including those specifically addressing the metaverse, cryptocurrency, digital wallets and NFTs. One of the patents referenced a digital currency and a digital token for use online, while another touched on an online store to sell virtual merchandise.

In a statement issued to CNBC, Walmart said it is continuously exploring how emerging technologies may shape future shopping experiences.

“We are testing new ideas all the time,” the company said. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”

Patent filings don’t guarantee a company is planning to act on an idea, but trademark attorney Josh Gerben seems to think Walmart is serious about the endeavor.

“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,” Gerben said.

Walmart has also filed trademarks for terms including "Verse to Store," "Verse to Curb" and "Verse to Home."

Ever since Facebook changed its corporate name to Meta, companies have been scrambling to figure out how they might fit into the metaverse puzzle. Nike back in November filed several new trademark applications for virtual goods. Gap also has an NFT collection, and drops from Adidas and Under Armour both sold out in record time. Konami just made over $162,000 from its Castlevania NFTs.

An official announcement from Walmart could have a big impact on cryptocurrency in general. Last year, Litecoin spiked 34 percent in just 15 minutes after a fraudulent Walmart press release was shared on GlobeNewswire.

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https://www.techspot.com/news/93016-walmart-could-enter-metaverse-crypto-nfts.html

 

[BSim500]

Would you guys please drop the embarrassingly dumb "metaverse" marketing speak. It's literally everything the Dilbert books have spent years mocking regarding Head of Marketing selling "The Next Big Thing" (tm) to pointy haired bosses who can't tell a PC from an etch-a-sketch whilst everyone else rolls their eyes out of cringe...

 

[BadThad]

HAHAHAHA....to be expected. NFT's are nothing but a scheme to take people's money and they're left holding the bag until they can convince another fool that some data bits are worth more than they paid. PONZI SCHEME 100%

 

[cliffordcooley]

HAHAHAHA....to be expected. NFT's are nothing but a scheme to take people's money and they're left holding the bag until they can convince another fool that some data bits are worth more than they paid. PONZI SCHEME 100%

Yep! Where you can buy shares and not actually own any shares. Companies have wanted this for more than a century.

 

[Morphine Child]

Can't really blame them with amount of stupid people willing to throw money at them...

 

[Farkinell]

Would you guys please drop the embarrassingly dumb "metaverse" marketing speak. It's literally everything the Dilbert books have spent years mocking regarding Head of Marketing selling "The Next Big Thing" (tm) to pointy haired bosses who can't tell a PC from an etch-a-sketch whilst everyone else rolls their eyes out of cringe...

Well said, I'm sick of hearing about this metaverse bullshit. It's like when a toddler first learns a new word then just repeats it over and over again. Just because Facebook are trying to force it down our throats doesn't mean we have to enthusiastically guzzle it down.

The fact it simply doesn't exist is what irritates me the most; it'd be like reading about how awesome and game changing fusion power finally is. Even if it did exist, having to interact with people in some kind of Facebook VR hellscape sounds like the exact opposite of what a lot of people want.

 

[BadThad]

Yep! Where you can buy shares and not actually own any shares. Companies have wanted this for more than a century.

I can't argue that.

 

[BadThad]

Well said, I'm sick of hearing about this metaverse bullshit. It's like when a toddler first learns a new word then just repeats it over and over again. Just because Facebook are trying to force it down our throats doesn't mean we have to enthusiastically guzzle it down.

The fact it simply doesn't exist is what irritates me the most; it'd be like reading about how awesome and game changing fusion power finally is. Even if it did exist, having to interact with people in some kind of Facebook VR hellscape sounds like the exact opposite of what a lot of people want.

It's only getting started brother. It's the next COVID for the media and marketing types. Get ready for the pain.