With so many businesses accepting cryptocurrencies as payment, it appears that Walmart is preparing to take things to the next level! The massive store intends to launch its own cryptocurrency and non-fungible token collection (NFTs).
According to CNBC, the company filed multiple new trademarks with the United States Patent and Trademark Office last month, indicating their aim to produce and sell virtual items.
Walmart stated in a statement that it is “constantly investigating how emerging technologies may affect future shopping experiences.” “We are always testing new concepts,” the business stated. Some concepts are turned into products or services that are sold to clients. We test, iterate, and learn from some of them.”
Others, such as Nike, are following suit and jumping on the NFT bandwagon. Nike also filed multiple trademark applications in early November, according to reports, that hinted at its plans to sell virtual branded sneakers and apparel.
Later that month, the corporation announced a collaboration with Roblox to build Nikeland, an online environment. In December, Nike paid an unknown sum for the virtual sneaker business RTFKT (pronounced “artifact”).
Gap has also begun producing non-traditional versions of its trademark logo sweaters. The NFTs will be priced between $8.30 and $415, according to the California-based business, and customers will receive a real sweatshirt with their purchase. Companies are making this adjustment, according to trademark attorney Josh Gerben, in order to prepare for the Metaverse.
′′The filings are really intense,′′ said attorney Gerben. There’s a lot of jargon in them, indicating that there’s a lot of thinking going on behind the scenes about how they’ll deal with Bitcoin.” It’s unknown when the change will take effect, or whether Walmart would enable customers to use other types of cryptocurrencies. Do you think this is a smart move, Roomies?!