Walmart appears to be making its first entry into the metaverse with plans to create its own cryptocurrency and collection of nonfungible tokens, or NFTs.
The big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods, and personal care products. In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.
The U.S. Patent and Trademark Office reported that Walmart filed the applications on Dec. 30 and a total of seven separate applications have been submitted by the retailer.
Walmart said in a statement responding to the story that it is “continuously exploring how emerging technologies may shape future shopping experiences.”
“We are testing new ideas all the time,” the company said. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”
Walmart is not alone in looking to the metaverse. In recent months companies like Nike, Gap, and Ralph Lauren, among others, have all submitted trademark requests.