Walmart has filed applications for cryptocurrency and trademarks, software to manage the crypto and other digital assets and for its online retail services.
Walmart (WMT) is joining in with a growing number of other retailers who now own established virtual retail stores and who have already developed non-fungible tokens, or NFTs, with plans to create its very own crypto.
The Bentonville, Ark., retail giant on December 30 filed for applications with the United States Patent and Trademark Office, including an application that is seeking to obtain a trademark for financial services for NFTs, crypto and blockchain tech; a financial exchange of digital currencies; creation of virtual currency and coins of value to be used by the online consumers; issuance of NFTs for use with blockchain tech and many other services involving cryptocurrency, NFTs, virtual currency and assets.
Walmart has also filed a trademark application for several downloadable software products for the digital marketplace, marketing, e-commerce, virtual reality, entertainment, tablet computers, video game consoles, mobile devices, fund transfers and payments, blockchain, crypto, virtual currency, digital currency, and various other software uses.
The retailer is also seeking a trademark for a virtual retail store that will hold all of its products, including appliances, electronics, outdoor and indoor furniture, toys, home decor, sporting goods, home improvement, apparel, video games, entertainment recordings, books, publications and most of its products that it sells on its shelves in its brick and mortar stores.
Walmart’s foray into the virtual retail world, cryptocurrency and NFTs follows the footsteps of other retailers that have already jumped into the virtual world. The Gap (GPS) has released its first NFTs this week on the Tezos blockchain, ranging in value from $8.30 to $415, which comes with a limited-edition Gap hoodie.
Nike (NKE) – Get NIKE, Inc. in October filed for an application with the Patent and Trademark Office to obtain a trademark on its virtual goods that are downloadable, including clothing, footwear and accessories for online use; entertainment services that will generate online non-downloadable products; retail store services that feature virtual goods.