Retail Giant Walmart Plans to Launch Its Own Cryptocurrency and a Collection of NFTs

As of late last month, the retail titans, Walmart took a step further into the crypto space.  Documents Walmart filed with the U.S. Patent and Trademark Office show that Walmart is planning to start making its own cryptocurrency and non-fungible tokens.

According to Walmart’s December 30 filings, the company applied for seven patents and several new trademarks, including three for “Walmart Connect” (the company’s existing digital advertising business). This indicated an intent to manufacture and sell virtual goods, such as electronic devices and household items as well as sports and personal care products. Regarding trademarks, Walmart has nothing to say.

Walmart is Keeping an Eye on The Newest Developments of Technology

Retail giant Walmart stated in a statement that it is continually examining how new technology may affect future shopping experiences. Regarding this report, Walmart noted that they are always experimenting with fresh concepts. The giant retail further emphasized ideas that make it to the market as actual goods or services are known as commercial successes. On the other hand, some of them they put to the test, iterate on and improve upon.

Additionally,  Walmart has been investigating its options in the crypto market recently. This is seen when Walmart issued a job ad in August this year, where they were looking for a leader in bitcoin and digital items.

In light of the new tech developments, Coinstar has placed ATMs in some of Walmart Inc.’s U.S. shops. By this opportunity, consumers would be able to purchase Bitcoin (BTC) using ATMs. This information was revealed by the world’s biggest retailer on the 21st of October.

Following the new trends of NFTs and cryptocurrencies, the other giant brand, Nike, previewed its ambitions to offer virtual branded footwear and clothing by filing a series of trademark applications in early November.

In relation to this, Nike has successfully purchased the NFT platform RTFKT Studios, which merges reality with fashion and gaming. RTFKT Studios first announced the acquisition on its official Twitter account on December 13.

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