Insights

Walmart is The Latest Mega Brand Getting in on NFTs

Walmart is planning on creating a crypto coin and also a line of NFTs.CNBC reported yesterday on the matter after the bargain brand big-box store filed several different trademarks that make it fairly clear the retail chain is going into the metaverse.  The report stated that “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. According to the U.S. Patent and Trademark Office, Walmart filed the applications on Dec. 30”

The company stated that Walmart is “continuously exploring how emerging technologies may shape future shopping experiences.” which in our opinion is a fancy way of saying “Look, we don’t know what NFTs or Crypto is all about, but we certainly understand that there is a LOT of money to be made by getting involved with it!”

Walmart is in good company as other giant name brands filed for similar patents like Nike, Urban Outfitters, Ralph Lauren, and Abercrombie & Fitch. Adidas and Gap have already started selling NFTs, and it is only reasonable for Walmart to jump on the NFT train. After all: “If all your friends are jumping off a bridge, you should only do it too if there is a ton of cash involved.” 

Leave a Reply

Your email address will not be published.