Walmart Patent Filings Suggest Metaverse Plans, NFTs, and a Native Token

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Wal­mart might be look­ing to enter the meta­verse space, accord­ing to patent fil­ings that were made in Decem­ber 2021. Details are scarce, but the com­pa­ny may imple­ment a vir­tu­al cur­ren­cy and NFTs to facil­i­tate the initiative.

Wal­mart is the next major com­pa­ny that looks as if it will enter the meta­verse, accord­ing to mul­ti­ple new trade­marks filed in Dec. 2021 with the U.S. Patent and Trade­mark Office. The trade­marks relate to the sell­ing of vir­tu­al goods of var­i­ous kinds. That includes the imple­men­ta­tion of a vir­tu­al cur­ren­cy and NFTs.

The arrival of a major chain like Wal­mart into the meta­verse high­lights the fer­vor sur­round­ing the space right now. Com­pa­nies like Meta and Microsoft are also allo­cat­ing resources towards the new vir­tu­al world, which looks like it will take the world by storm this decade.

The poten­tial of NFTs and the meta­verse for major brands is obvi­ous. It is an effec­tive way to increase user engage­ment and cre­ate expe­ri­ences sur­round­ing the par­tic­u­lar company’s offer­ings. NFTs allow com­pa­nies to retain own­er­ship and brand iden­ti­ty over their intel­lec­tu­al prop­er­ties, while also gen­er­at­ing rev­enue, of course.

Wal­mart has flirt­ed with the idea of cryp­tocur­ren­cies and blockchain tech­nol­o­gy in the past. It has been adamant that some of its exper­i­ments remain just that — exper­i­ments. But suc­cess­ful pilots might lead to full-scale deployment.

The meta­verse took the world by storm in 2021, and by all indi­ca­tors, it appears that 2022 will be even more of a stel­lar year for the niche. Sev­er­al exist­ing vir­tu­al worlds, like Decen­tra­land and The Sand­box, look prime for major releas­es, while offer­ings by estab­lished tech firms also look like they will see some announcements.

The meta­verse is still a very new space, but that hasn’t stopped it from spread­ing like wild­fire through both the cryp­to space and out­side. The over­all vision is some­what clear — a vir­tu­al world where indi­vid­u­als can inter­act with each oth­er, celebri­ties, and famous brands and IPs. How­ev­er, the short-term mile­stones are some­what hazy, with meta­verse projects on var­i­ous net­works tak­ing on dif­fer­ent imme­di­ate objectives.

For exam­ple, one promi­nent theme cur­rent­ly is the abil­i­ty to buy vir­tu­al land. Play­ers can some­times earn from own­ing these vir­tu­al plots of land and have the brag­ging rights of being “neigh­bors” to spe­cial areas or celebrities.

The capac­i­ty for this vir­tu­al world to inter­act with var­i­ous NFTs also adds to the excite­ment. It’s not with­out rea­son that major tech firms are pour­ing resources into this space, but it remains to be seen if it suc­ceeds along­side com­plete­ly decen­tral­ized projects.

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