Gate.io Blog Walmart is preparing to enter the Metaverse

Walmart is preparing to enter the Metaverse

03 February 15:20

By Aziz. H, Gate.io Researcher

[TL;DR]
Walmart is apparently venturing into the metaverse with plans to create its own cryptocurrency and NFT collection.
The mass retailer filed several new trademarks late last month that indicates its intention to make and sell virtual goods.
In a separate filing, Walmart said it would offer users virtual currency, as well as non-fungible tokens, or NFTs.

After digital companies and cities, it's a new player that seems to be venturing into this field. Retail giant Walmart filed a series of trademarks with the U.S. Patent and Trademark Office at the end of December, suggesting that it may soon enter the metaverse. The company reportedly intends to create and sell virtual goods such as electronics, toys, sports equipment, clothing and more.

Walmart would also like to offer its customers a cryptocurrency as well as the ability to buy and sell non-fungible tokens (NFTs). These would authenticate goods and downloadable digital art images. Another trademark filing also mentions the development and design of virtual stores and showrooms.

©Sundry Photography / Shuttterstock

Products and Services Made Available in the Virtual World
The retail giant could also provide various services in the field of nutrition, health and wellness in virtual reality (VR) and augmented reality (AR) environments. Services such as "physical training," "nutritional advice" or "medical care" are mentioned in the documents. These virtual environments would also be a source of entertainment for users, with live streaming of events or preparation and hosting of virtual shows.

According to the brands, users will access these digital worlds through computer software, games, mobile apps, and virtual and augmented realities. This suggests that they will be able to use their computers, smartphones, or virtual and augmented reality equipment such as headsets and goggles, although no technology is mentioned in the documents. Furthermore, these environments will not only allow access to virtual goods and services, as it will be possible to design one's avatar and interact with other digital characters using "voice, video, text, animations and other modes of communication."

Despite filing all of these trademarks, it appears that Walmart has no immediate plans for the metaverse. Indeed, the company said it is constantly exploring how emerging technologies can shape future shopping experiences and is constantly testing new ideas, some of which eventually become products or services for customers.

Additionally, Twitter reacted to Walmart's video detailing its move into the metaverse.

It turns out that the world may not want to VR-shop in the metaverse, as the response to the video was half-hearted, but the twist is that this video is actually five years old and was shown at SXSW 2017. When it was shown at the time, the term metaverse didn't even exist, so no one really paid attention. But today, when "metaverse" is one of the most used words in 2021 - right next to "NFT" - users aren't looking forward to it becoming a reality.

Created alongside Mutual Mobile, this Walmart metaverse is interesting to watch in five years, especially with so much buzz around the term. We don't know if Walmart has stayed true to the concept and what its virtual stores would look like today, but there's no denying the brutal honesty of some of these Tweets.

The metaverse trend continues to gain momentum as other marketers plant their metaverse flags more firmly. In December, Nike acquired RTFKT, a digital studio that designs virtual collectibles such as NFTs. The sportswear specialist also recently created Nikeland, an interactive experience within the Roblox gaming platform that allows visitors to participate in activities such as dodgeball and try on virtual clothing.

Author: Gate.io Researcher: Aziz. H
* This article represents only the views of the researcher and does not constitute any investment suggestions.
*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.

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Walmart is preparing to enter the Metaverse

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