U.S. Walmart to mint, sell cryptos
Retail giant Walmart plans to enter the cryptocurrency and blockchain space as trademark filings made in December 2021 revealed the company’s intent to mint and sell its own NFTs (non-fungible tokens) and cryptocurrency.
The U.S. Patent and Trademark Office revealed that the filings were made on December 30.
CNBC reports that one trademark application listed possible “physical fitness training services” and “classes in the field of health and nutrition” that could take place in VR/AR environments.
Another filing from Walmart said it would offer users virtual currency and non-fungible tokens, or NFTs.
“Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” a Walmart spokesperson said in a statement. “We are testing new ideas all the time. Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”
Walmart’s intent to penetrate the crypto market follows the widespread adoption of the virtual space called the Metaverse. Fashion brands like Adidas, Nike, and Gap started selling NFTs and hinted at intentions to create virtual spaces.
Nike filed a number of trademark applications early last November, with plans to sell virtual branded sneakers and apparel.
Later that month, the sportswear company said it was teaming up with Roblox to create an online world called Nikeland. It bought the virtual sneaker company RTFKT for an undisclosed amount in December.
In December, sportswear giant Adidas Originals made $23.5 million by selling 30,000 of Adidas’ “Into the Metaverse” NFTs within hours of going on sale.
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