Walmart is all prepared to venture into NFT's

The NFT craze is evident across internet. Last year in December, we reported that the global search index for NFT’s peaked and surpassed that of Crypto searches. Well, it looks like the madness is not going to end anytime soon. The latest in this madness is the buzz around retail giant Walmart entry into Metaverse.

According to CNBC, the retail giant intends to venture into the metaverse with plans to create its own cryptocurrency and collection of non-fungible tokens (NFTs). According to the U.S. Patent and Trademark Office, on 30th of December, Walmart filed applications for several new trademarks. Which shows it’s intent to sell virtual goods in the metaverse. In a separate application filed, the retail giant said it would offer it’s users NFT’s and cryptocurrency.

Although, Walmart haven’t yet commented on it’s trademark filings but they did mention, “we are continuously exploring how emerging technologies may shape future shopping experiences. We are testing new ideas all the time”.

Trademark experts regards the filings as very serious from the language being used. Ever since Facebook has changed their name to Meta, businesses have been rushing in to find where they can fit in that scenario in the future.

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All of a sudden everyone is interested in NFT’s. Nike, Gap Inc, Under Armour, Ralph Lauren and Urban Outfitters are just a few names venturing into NFT’s. Brands are taking NFT’s as potential revenue streams.

Frank Chaparro, director at crypto-information services firm The Block says, many retailers are still reeling from being late to e-commerce, so they don’t want to miss out on the metaverse frenzy. As more and more consumers are familiarizing themselves with Cryptocurrencies and Non Fungible Tokens. After all, it doesn’t cost much.

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