With new technology developing rapidly, major corporations make sure not to miss any opportunities. As one of them, Walmart is also trying to figure out its place in the metaverse. In December, Walmart filed applications for registering several new trademarks. These virtual goods will include electronics, toys, decor, and even personal care products. So far, it is unclear whether these will be tokenized physical products or new unique items.
After Facebook changed its name to Meta and announced its plans to develop the metaverse, many other major brands, including Nike, Gap, and others also hurried to find their niche in the virtual world.
In August, Walmart announced its intention to design “the digital currency strategy and product roadmap” and to identify “crypto-related investment and partnerships,” which means that the company planned to enter the metaverse.
In late December, the company filed several applications, including three filings under Walmart’s digital advertising venture “Walmart Connect” that were related to a financial exchange for virtual currency and advertising. Walmart filed applications for shopping services under the names of “Verse to Home”, “Verse to Curb” and “Verse to Store”. Other plans include registering trademarks to use the company’s name and a “fireworks” logo to provide healthcare and educational services by adopting virtual and augmented reality.
“Walmart is continuously exploring how emerging technologies may shape future shopping experiences. We don’t have anything further to share today, but it’s worth noting we routinely file trademark applications as part of the innovation process,” the company wrote in its statement.
The retailer has not yet started using these trademarks but has indicated its intent to do so. The trademarks will only be registered when Walmart actually starts to use them.
The company’s plans to expand into the crypto world caused a major hoax last September. A hoax news release was published claiming that Walmart would accept payments in Litecoin. It resulted in a short surge of demand in Litecoin, a rather little-known currency.
Even though that particular announcement was fake, the company actually kept exploring its opportunities in the crypto sphere. In October, a retailer from Bentonville, Arkansas, launched a pilot program to offer Bitcoin at Coinstar kiosks in some American stores.
Traditionally, Coinstar kiosks have offered shoppers to exchange coins for paper currency and gift cards. The pilot program covers 200 kiosks in Walmart stores.
Moreover, Brett Biggs, the CFO of Walmart, announced at a conference early December that the company was planning to accept cryptocurrency as payment if consumers believed it necessary. He added, however, that the company was not going to rush things.