Technology

Walmart tests crypto and NFT – does it affect your weekly store?

WALMART is preparing to enter the supermarket as documents reveal the company’s plans to create its own cryptocurrency and NFTs.

Nationwide retail agent Walmart thinking about joining electronic money and non-fungible token (NFT) games, according to some trademark documents.

Walmart plans to launch its own cryptocurrency and a collection of NFTs

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Walmart plans to launch its own cryptocurrency and a collection of NFTsCredit: Getty

The retail giant has submitted documents, which show that it plans to offer users a virtual currency, as well as create NFTs by the end of December 2021.

s[The filings are] super intense,” said Josh Gerben, a trademark attorney.

“There’s a lot of language in this stuff, which shows that there’s a lot of planning going on behind the scenes for how they’re going to tackle crypto, how they’re going to tackle the metaverse, and the virtual world that seems to be working on it. come or it was here,” he added.

The company said in a statement that it is “continuously exploring how emerging technologies can shape future shopping experiences.”

“We are always experimenting with new ideas – some ideas become products or services that customers can perceive. And some of us experiment, iterate, and learn from it,” Walmart added.

And the company has done just that over the years, adopting a number of new technologies both in its stores and in its offices.

These technologies include training employees to use VR, as well as deploying self-driving trucks for delivery.

Walmart isn’t the only company trying to get them through the digital door.

According to Gerben since Meta (formerly known as Facebook) talked about its ambitions for the metaverse, many companies have been trying to figure out how they can separate themselves from the digital space.

Other brick-and-mortar retailers that have been toying with the idea of ​​crypto and offering an NFT collection include Underarmour, Adidas, and Gap.

Meanwhile, apparel retailers such as Urban Outfitters, Ralph Lauren and Abercrombie & Fitch recently trademarked a virtual space of their own.

Walmart is one of many companies thinking of entering the digital space.

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Walmart is one of many companies thinking of entering the digital space.Credit: AFP
Mysterious fugitive Bitcoin trader hid ‘100 million dollars’ in crypto before disappearing after criticizing Brazilian leaders

In other news, a federation antitrust case against Meta, the company formerly known as Facebook, was launched first.

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https://www.the-sun.com/tech/4490013/walmart-cryptocurrencies-nfts-shop/ Walmart tests crypto and NFT – does it affect your weekly store?

TaraSubramaniam

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