After the success of non-fungible tokens, everyone's buzzing about the Metaverse being this year's big highlight.
By the close of 2021, tech heavyweights like Facebook, Epic Games, Roblox, Snap, NVIDIA, and Unity made significant moves into the Metaverse.
Walmart is the a renowned entity eager to dive into the digital world .
Will Walmart Jump On The Bandwagon?
Walmart Inc., a major global retailer, envisions a bright future within the Metaverse, showcasing its interest by filing patents related to cryptocurrency and NFTs.
As detailed before, Walmart had submitted multiple patents by the end of last month, with CNBC unraveling more about their strategy, sparking public intrigue.
Among these patent applications, three pivotal ones connect cryptocurrency and the Metaverse through Walmart's media arm, Walmart Connect.
Trademark expert Josh Gerben highlights Walmart's clear plans to create and market virtual goods.
Walmart's application is peppered with crypto-related terms, indicating various behind-the-scenes strategies for engaging with crypto, the Metaverse, and NFTs.
The product lineup will include electronics, decor, toys, sports items, and personal care products.
Digital currency and token are also on the agenda. Walmart is picturing a new NFT marketplace for the future.
If you carefully examine Walmart's push into digital currency, you'll see hints have been dropped since 2021.
Back in August, Walmart was seeking a digital currency and crypto product leader, a post that went offline without clarity on whether it was filled.
The retail behemoth joined forces with Coinstar, an ATM company providing crypto exchange services.
They're focusing on installing 200 Bitcoin ATMs across U.S. Walmart stores, part of their test phase before rolling out to 4,700 outlets.
Since 2018, blockchain technology has become integral to Walmart's systems, revolutionizing supply chain, management, and customer interactions.
Now, Walmart eyes the Metaverse, embracing blockchain for the myriad benefits it provides.
Giants Rush To Metaverse
Morgan Stanley's analysis suggests the Metaverse could offer an $8 trillion opportunity for retailers. A lucrative figure few can overlook. .
Since Meta's inception, it has driven other giants to explore potential roles in the Metaverse.
The Metaverse is expected to redefine retailing, unleashing infinite creative possibilities.
In this new space, geographical limits vanish, giving rise to diverse and innovative products.
In November 2021, Nike moved to trademark virtual footwear and apparel, working with Roblox on a virtual experience called Nikeland.
Adidas and Under Armour saw quick success with their NFT launches, inspiring Gap to introduce its first NFT hoodie collection this month.
The retail world is leaning into digital transformations, aiming to boost awareness and enrich customer journeys, with the Metaverse pegged as this year's emerging trend alongside NFTs.
