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.

While the returns on some cryptos can be extremely high, the industry is rife with schemes and scammers.

With the value of ether up by almost 200% since this past year, investing in crypto can seem like the best choice.

But as anyone that has been around a lot of crypto bros could tell you, it comes with high volatility and high risk: crypto is the asset class that has posed the largest risk to investors.

“Before you hop into the crypto craze, think about the cryptos and other financial products that might be nothing more than the public facing Ponzi schemes,” said Joseph Rotunda.

The reason has to do with the regulatory rules that have a difficult time catching up to the high number of new cryptos (often released by people with zero finance background) releasing onto the market. The success of BTC and ether are usually used to produce a type of craze around a new concept that is still misunderstood by a lot of people.

A crypto advocate, Republican Sen. Cynthia Lummis has proposed a bill that would set clear guidelines on crypto regulation and taxation in December.

Non-fungible tokens (NFTs) are used to receive ownership of online content. NFTs are another cryptocurrency subcategory currently getting a lot of investor attention — while more popular ones such as the Bored Ape Yacht Club could sell for millions, but fake ones are appearing online already. (Based predominantly on the ETH network, most NFTs are selling for ether.)

Other high-risk trades include anything that has to do a popular Self-Directed personal Retirement Accounts scheme, promissory notes, and social media investment offers.

To minimize your risk, the agency suggests people do their own research on founders, carefully study domain names (there are scammers that will copy a popular site by adding only one letter) and usually avoid grandiose promises to “make a million dollars” tomorrow.

“Investments in crypto trading programs, interests in cryptocurrency mining pools, securitized coins and crypto depository accounts should be seen for what they truly are: very risky speculation along with a high risk of loss,” said Rotunda.

When the Covid pandemic took hold in March of 2020, Keith Arnold and his wife, Stephanie Bonin, co-owners of a restaurant in Denver, worried they might face financial disaster.

The crisis forced them to close Duo Restaurant, which serves a farm-to-table contemporary American cuisine.

There was no plan as to what might happen next, as federal and state support addressing the pandemic wasn’t implemented at that time.

They temporarily laid off 12 of their 15 employees.

At the time, Bonin knew she and her husband wouldn’t get unemployment checks. While their staff would receive the benefits, it wouldn’t match their weekly tips and paychecks.

“Their livelihood depended on us,” Bonin said. “That was keeping us up most nights.”

“How are we going keep them working?”

Bonin started a Change.org petition asking for $2,000 each month in aid to every American during the pandemic.

Today, that online call to action continues to draw support, having just over 3 million signatures. Change.org has created a video of personal testimonies of individuals who say they are in need of more federal help.

The milestone comes as the omicron variant is making some small businesses close and schools to question whether children should keep attending classes in person. Meanwhile, some lawmakers on Capitol Hill are discussing what support may be implemented — particularly for businesses like restaurants.

Dems’ BBB proposal has failed to pass on Capitol Hill. That bill would have authorized additional monthly child tax credit payments, though Senator Joe Manchin, D-W.Va., has called for a more strict targeting of that support.

Nancy Pelosi, D-Calif., stated in an interview this weekend that even more help for Americans might be added to the upcoming federal funding bill.

Bonin and Arnold have recently closed down the Duo Restaurant for a week around the holidays after half of their kitchen staff tested positive for Covid-19.

While they lost around $30,000 in income for that week, they still had to pay about $9,000 toward their payroll because of their paid leave mandates.

If they are forced to close down again, the loss in income will add more financial strain on the restaurant.

Bonin and Arnold, who manage the restaurant virtually from Brattleboro, VM, are also grappling with other Covid uncertainties as parents to their two daughters, ages 9 and 14.

Aid through PPP, which they credit with helping keep their restaurant stay in business in the early stages of the pandemic, is no longer available. Enhanced federal unemployment benefits and stimulus checks dried up this past year. This month, the child tax credit payments stopped coming in.

The uncertainties of the pandemic during the past two years, have kept the Change.org petition popular, Bonin said.

“I think that is what 3 million people have been saying, which is, ‘We just need some certainty. We need to have something we are able to plan on each month,’” Bonin said.