Walmart to launch cryptocurrency and its own collection of NFTs in metaverse move, trademark filings reveal

By January 16, 2022Metaverse
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WALMART is reportedly working on plans to create its own cryptocurrency as well as non-fungible tokens (NFTs).

The retail giant has been hinting over the past few months of plans to embrace the world of cryptocurrencies and the metaverse.

Walmart may be working on its own crypto and NFTs
Walmart may be working on its own crypto and NFTs

Walmart filed several trademarks late last month, which signal plans to make and sell virtual goods, including electronics, home decor, toys, sporting goods, and personal care products, according to CNBC.

According to the U.S. Patent and Trademark Office, seven separate applications were submitted.

In a statement, the retailer said Walmart is "continuously exploring how emerging technologies may shape future shopping experiences."

The statement says they are "testing new ideas all the time.

"Some ideas become products or services that make it to customers -- and some we test, iterate, and learn from."

Walmart's recent business moves suggest the retail giant is getting serious about plans to participate in the metaverse, a virtual world that blends aspects of digital tech, in the future.

According to Bloomberg, Walmart began advertising a position to help develop "the digital currency strategy and product roadmap" in August.

Walmart also took another step towards the crypto world in October when the company began a pilot program where shoppers could buy Bitcoin at Coinstar kiosks at some of its US stores.

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Two hundred kiosks throughout the country were involved in the trial program.

Also, this December, just weeks before Walmart began filing the new trademarks, the company's CFO Brett Biggs said Walmart was open to allowing customers to pay in cryptocurrency in the future.

However, Biggs also said he didn't see a need to rush any major changes.

The retail giant began offering Bitcoin at some of its stores in 2021
The retail giant began offering Bitcoin at some of its stores in 2021

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