A consumer carries a bag exterior a Walmart retailer in San Leandro, California, on Thursday, May 13, 2021.
David Paul Morris | Bloomberg | Getty Images
Walmart seems to be venturing into the metaverse with plans to create its personal cryptocurrency and assortment of non-fungible tokens, or NFTs.
The big-box retailer filed a number of new logos late final month that point out its intent to make and promote digital items, together with electronics, residence decorations, toys, sporting items and private care merchandise. In a separate submitting, the corporate stated it will supply customers a digital forex, in addition to NFTs.
According to the U.S. Patent and Trademark Office, Walmart filed the functions on Dec. 30.
In complete, seven separate functions have been submitted.
A spokesperson from Walmart did not instantly reply to CNBC’s request for remark.
“They’re tremendous intense,” stated Josh Gerben, a trademark legal professional. “There’s lots of language in these, which exhibits that there is lots of planning occurring behind the scenes about how they will tackle cryptocurrency, how they will tackle the metaverse and the digital world that seems to be coming or that is already right here.”
Gerben stated that ever since Facebook introduced it was altering its firm identify to Meta, signaling its ambitions past social media, companies have been dashing to determine how they may match right into a digital world.
Nike filed a slew of trademark functions in early November that previewed its plans to promote digital branded sneakers and attire. Later that month, it stated it was teaming up with Roblox to create a web-based world known as Nikeland. In December, it purchased the digital sneaker firm RTFKT for an undisclosed quantity.
“All of a sudden, everyone seems to be like, ‘This is changing into tremendous actual and we’d like to verify our IP is protected within the area,'” stated Gerben.
Gap has additionally began promoting NFTs of its iconic brand sweatshirts. The attire maker stated its NFTs shall be priced in tiers starting from roughly $8.30 to $415, and include a bodily hoodie.
Gerben stated that attire retailers Urban Outfitters, Ralph Lauren and Abercrombie & Fitch have additionally filed logos in current weeks detailing their intents to open some form of digital retailer.
—CNBC’s Melissa Repko contributed to this reporting.
