Consumers can soon avail themselves of cryptocurrencies and non-fungible tokens or NFTs at Walmart. This development comes as the Bentonville, Arkansas-based retailer confirmed its filing of several trademark applications with the United States Patent and Trademark Office or USPTO late last month.
We are glad to read this crypto-asset-related report about Walmart. As virtual assets increasingly become well-received and accepted across the United States, we believe this retail giant will further grow its customer base with its plan of selling non-fungible tokens and cryptocurrencies in its stores.
According to the Monday, January 17, 2022 report posted online by online news source Yahoo, Walmart filed trademarks in late December 2021 to sell virtual products. It also remarked in another filing that it would provide its consumers with cryptocurrencies and NFTs.
Josh Gerben is a trademark attorney, and he described the trademarks as highly detailed. He said that Walmart was lucidly thinking about engaging with virtual currencies and products.
Based on a statement of a Walmart representative, the retail giant is continuously exploring how new technologies might affect shopping. Moreover, the spokesperson relayed that Walmart routinely filed trademarks as a component of that process.
In October last year, the retailer commenced a pilot program. This initiative permits shoppers to purchase Bitcoin at Coinstar kiosks in some of Walmart’s United States-based stores.
Additionally, Walmart’s test features Coinstar, a company known for the machines that enable customers to exchange US coins for gift cards or paper bills. Walmart’s pilot program also consisted of 200 kiosks in this retail behemoth’s stores.
We are not surprised to learn about Walmart’s decision to eventually offer cryptocurrencies and non-fungible tokens. We have seen this event coming as there has been a scramble among leading brands, such as Gap, Adidas, Nike, and other well-known names, to enter the crypto-asset space with NFTs, cryptocurrencies, or both.
We learned that this happening has begun following Facebook’s recent alteration of its name to Meta and signaled its plan to foster metaverse, which is a virtual realm blending digital technologies’ aspects. With these key events, we gathered that Walmart has continued to explore capabilities in the virtual currency realm.
We believe this retailer does not want to be left behind in today’s firms’ involvements in the cryptocurrency rush. We are pleased that consumers can have more options regarding cryptocurrencies, NFTs, and other virtual assets as Walmart gets ready to create its own cryptocurrency and collection of NFTs and meet its customers in the emerging metaverse.
We also think Walmart will become more relevant. After all, its customers can buy virtual goods besides this retailer’s common offerings of personal-care products, electronics, sporting goods, decors, toys, and so forth.
