Walmart prepares to enter the metaverse

Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of nonfungible tokens, or NFTs.

The retail giant filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products, as well as a virtual currency offering and NFTs.

According to the U.S. Patent and Trademark Office, Walmart filed the applications on Dec. 30.

In a statement, Walmart said it is “continuously exploring how emerging technologies may shape future shopping experiences.” It declined to comment on the specific trademark filings.

“We are testing new ideas all the time,” the company said. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”