Jan 17, 2022 12:37:00

It is reported that Wal-Mart will make a full-scale entry into NFT and its own virtual currency and work on building a metaverse.

Wal-Mart , the world's largest supermarket chain, is reportedly planning to create its own cryptocurrency and NFT content and build a metaverse.

Walmart is quietly preparing to enter the metaverse
https://www.cnbc.com/2022/01/16/walmart-is-quietly-preparing-to-enter-the-metaverse.html

Walmart is getting serious about the metaverse --The Verge
https://www.theverge.com/2022/1/16/22887011/walmart-metaverse-nft-cryptocurrency

Wal-Mart reportedly filed seven trademarks on December 30, 2021, from which it plans to sell digital products such as electronics, upholstery, toys, sporting goods and personal care products. It is clear that Apart from this trademark application, Wal-Mart has also applied for trademarks such as 'Verse to Home', 'Verse to Curb' and 'Verse to Store'. We are planning to sell it. '

Meanwhile, Wal-Mart told CNBC, 'We are continually investigating how emerging technologies will shape future shopping experiences.' 'We are constantly testing new ideas.' 'Some ideas are for customers. It will be a product or service that arrives, and there is something we can learn from it over and over again. ' Did not reach.

Wal-Mart was

recruiting crypto experts in August 2021 and 'this is one of the early signs that Wal-Mart is interested in the Metaverse,' the foreign media The Verge reports. increase.

Trademark lawyer Josh Garben said, 'Wal-Mart's trademark application contains a lot of words. Wal-Mart plans a lot behind the scenes, such as how to deal with cryptocurrencies, the Metaverse, and the virtual world. And Wal-Mart is very enthusiastic about this effort. '

According to Garben, many companies have been planning how to fit the Metaverse since Facebook changed its name to Meta.

Facebook announces that company name will be changed to 'Meta' --GIGAZINE

Nike has also filed numerous trademark applications in early November 2021, revealing that it is looking for plans to sell branded sneakers and apparel in virtual space. Nike also announced in late November that it would create a world within Roblox called Nike Land , and in December acquired virtual sneaker maker RTFKT.

Similarly , apparel maker GAP sells NFTs, and the NFT content sold by Under Armor and Adidas in 2021 is sold out immediately.

In addition to Wal-Mart, Garben claims that clothing makers such as Ralph Lauren, Abercrombie & Fitch, and Urban Outfitters are planning to build the Metaverse, in fact, intending to open a virtual store within the Metaverse. It seems that each company has applied for such a trademark. CB Insights Research speculates that the reason why manufacturers are planning digital brands on the Metaverse is 'to get new revenue sources.'

CB Insights Research points out that launching NFTs will enable companies to tokenize physical products and services and reduce costs in online transactions. It has also been pointed out that for high brands such as Gucci and Louis Vuitton, NFTs may serve as a new form for certifying expensive products.

Frank Chaparro, director of crypto services The Block, points out that many retailers are afraid to miss the Metaverse as they miss the e-commerce space, saying 'NFTs are transient. Even if it ends in a fashion, providing NFT content will not seriously damage a company's reputation. '