Walmart doesn’t want to be left out of the rising crypto trend. CNBC has learned that Walmart filed several trademark applications with the USPTO in December for selling virtual goods, and in another filing said it would also provide cryptocurrency and NFTs. While the documents do not guarantee that they will ever actually happen, trademark attorney Josh Gerben told CNBC the trademarks were highly detailed, so Walmart was clearly thinking about how it would take on digital currencies and other related products.
A Walmart spokesperson recently told Engadget that the company was “continuously exploring” how new technologies might influence shopping and also that it “routinely” filed trademarks as part of that process. In other words, don’t expect the company to confirm or deny it.
It makes sense for Walmart to dip into cryptocurrencies and NFTs. After Facebook changed its name to Meta and declared its intention to foster metaverses, there has been a rush among major brands to enter the space as well. Adidas, Nike, Gap, and other big names have started selling NFTs and hinted at creating virtual spaces. Walmart might not want to risk missing out on this trend, so it is exploring its options in the space.