Walmart reveals interest in creating cryptocurrency and selling virtual goods

Walmart
Photo CBS7

The American company Walmart, the largest supermarket chain in the world, has revealed its interest in creating a cryptocurrency and selling virtual goods in several trademark applications recently submitted to the Patent Office, as reported by CNBC on Sunday.

At the end of December, Walmart submitted almost a dozen petitions to the regulator in which it hints at its intention to launch a virtual currency and a collection of NFT (non-fungible token) assets, in addition to produce and sell virtual goods such as household appliances, clothing, toys or personal care products.

Walmart would thus join a a growing list of companies that are preparing to operate in the metaverse -an immersive virtual reality-, including Facebook, which has changed its name to Meta for that reason; retailers in the fashion sector such as Nike or GAP, or the entertainment giant Disney.

The supermarket chain avoided comment on that possibility in a statement to the media, in which he said he is always “exploring how emerging technologies can shape future shopping experiences” and stressed that he makes trademark requests “routinely” to continue with his innovation.

America’s retail giant, Walmart is America’s largest private sector employer and since the start of the The covid-19 pandemic has seen its e-commerce business grow strongly, which according to its latest quarterly results -last November- has increased its sales in the country by 87% compared to two years ago.

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