Walmart, one of the world’s largest retail corporations, has been reported to be entering the digital space.
On December 30, 2021, Walmart filed seven separate trademark applications with the US Patent and Trademark Office (USPTO), in order to be able to create and sell digital items, electronics, sporting goods, home decorations, toys, and personal care products.
It was also reported that the company filed another application for the creation and use of NFT as a digital currency for their members.
Reports claim that Walmart is “continuously exploring how emerging technologies may shape future shopping experiences. We are testing new ideas all the time,” the corporation further added, “some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”
This new update from Walmart is due to the world steering towards the metaverse.
It’s just another big company entering the metaverse. Later in November, Nike partnered with Roblox to launch Nikeland, and a month later, in December, Nike purchased the virtual sneaker company RTFKT.
Gap also began selling NFTs featuring its iconic logo sweatshirts, which quickly sold out.
Many people believe the future lies in the digital space, so most people don’t want to miss out. Moreover, tokenizing physical goods will help reduce online transaction costs.
