Walmart Planning To Create Their Own Cryptocurrency

Walmart Planning To Create Their Own Cryptocurrency

Roommates, with so many companies adding cryptocurrency as a form of payment, it looks like Walmart is planning on taking things to the next level! The giant retailer plans to create their own cryptocurrency and collection of Non-fungible tokens (NFTs). Last month the retailer filed several new trademarks with the U.S. Patent and Trademark Office that indicate their intent to make and sell virtual goods, according to CNBC.


In a statement, Walmart said they’re continuously exploring how emerging technologies may shape future shopping experiences.” The company continued, “We are testing new ideas all the time. Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”


Others companies such as Nike are also following suit and joining the NFT wave. Reports show that  Nike also filed several trademark applications in early November that previewed its plans to sell virtual branded sneakers and apparel. Later that month, the company announced partnering with Roblox to create an online world called Nikeland. Nike purchased the virtual sneaker company RTFKT (pronounced “artifact”) for an undisclosed amount in December.


In addition, Gap also started selling NFTs of its iconic logo sweatshirts. The California-based company said its NFTs would be priced ranging from roughly $8.30 to $415, and consumers will receive a physical hoodie with their purchase. Josh Gerben, a trademark attorney, says companies are making this change to prepare for the Metaverse.


Attorney Gerben said, ″The filings are super intense. There’s a lot of language in these, which shows that there’s a lot of planning going on behind the scenes about how they’re going to address cryptocurrency.” It’s unclear when the change will go into effect, and if Walmart will allow customers to use other forms of cryptocurrency, Roomies do you think this is a good move?!

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