After Adidas, Macy’s, Meta, Nike, and others, retail giant Walmart is likely the next to foray into the metaverse. Reportedly, it has plans to launch its own cryptocurrency and NFTs. As per reports, the retailer filed multiple trademarks with the United States Patent and Trademark Office on December 30. Of the total seven patent applications, three were filed under its “Walmart Connect” advertising division.
According to CNBC, Walmart said it is “continuously exploring how emerging technologies may shape future shopping experiences.” CNBC was the first to report on Walmart’s metaverse move.
“We are testing new ideas all the time,” the retailer added. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”
Walmart’s metaverse move: What we know so far
According to Walmart’s latest trademark filings, it appears it has plans to sell virtual goods. This includes toys, apparel, electronics, and sporting equipment, among others. Besides, there’s mention of offering “digital currency” as well as NFTs to customers. In the meantime, a separate application suggests “physical fitness training services” and “classes in the field of health and nutrition”. Interestingly, these services fall under its filings to trademark the brand name and logo in virtual reality (VR) and augmented reality (AR). Both AR and VR are crucial aspects of the metaverse.
In addition, Bloomberg reported that the retail giant filed applications for “Verse to Store,” “Verse to Curb” and “Verse to Home”. This likely signals Walmart’s plans to create a virtual shopping experience in the metaverse. If you’re interested to know more, you can find the filings on the Trademark Electronic Search System (TESS). On the website, simply search for “Walmart”.
This is not the first time that Walmart has hinted at its interest in the metaverse. Back in August 2021, the retail giant had listed a job vacancy for a “digital currency and crypto product lead”. Similarly, in October, the retailer teamed up with crypto ATM company, Coinstar and crypto-cash exchange, Coinme to install Bitcoin ATMs in its US stores.
A retail giant like Walmart making the metaverse move surely spells big things for the industry! This year, we can expect more brands to follow suit.
Brands and the metaverse
The metaverse is a great means for brands to reach out to their customers and generate additional attention and revenues. Since Meta announced its metaverse plans, a slew of brands has joined the space. Nike in November filed several trademark applications. The same month, it partnered with Roblox to create a digital world called ‘Nikeland’. The next month, it bought digital sneaker company RTFKT.
Meanwhile, Adidas partnered with Coinbase to buy virtual land in The Sandbox metaverse. Besides, it launched an NFT collection in collaboration with G Money, Bored Ape Yacht Club, and Punks Comic. Similarly, tech giant Microsoft has also announced its metaverse plans.
One thing is for certain everyone is racing to grab market share of attention in our minds, and if Metaverse is half as successful as the internet we will be playing, shopping and living there in no time.