Walmart, the world’s largest retailer, has submitted a trademark application for its subsidiary Sam’s Club, signaling the company’s entry into the world of NFTs and the metaverse. The trademark applications were filed with the United States Patent and Trademark Office (USPTO) on January 31, 2023.
According to the filing, Walmart aims to sell a range of virtual goods, including NFTs, through Sam’s Club. The application also covers a wide range of services, including an online marketplace for NFTs, VR and AR experiences, a digital currency wallet and storage services software, and cryptocurrency exchange services.
Walmart is also looking to apply the Sam’s Club name and logo to healthcare services and education in virtual and augmented reality (VR/AR).
This is not the first time Walmart has shown an interest in the metaverse and NFTs. Last January, the retail giant filed trademark applications to begin creating and selling digital items.
In September, Walmart announced the debut of two new Roblox metaverse experiences, Walmart Universe of Play and Walmart Land.
The news of Walmart’s entry into the NFT and metaverse space was tweeted by Michael Kondoudis, a trademark attorney specializing in Web3-related applications.
This move into NFTs and blockchain-related services is in line with the growing trend of companies exploring the potential of NFTs and the metaverse as new revenue streams.
Walmart’s trademark application for Sam’s Club represents a significant step into the world of NFTs and the metaverse. The retail giant’s plans to sell virtual goods, including NFTs, and offer a range of cryptocurrency and VR/AR services signal a new direction for the company and the potential for significant growth in this space.
For Walmart, the entry into the NFT and metaverse space through Sam’s Club is a logical step, given the company’s recent efforts to expand its digital presence. Walmart has been investing heavily in e-commerce and technology in recent years to compete with the likes of Amazon and to adapt to the changing shopping habits of consumers.
By offering a range of NFT and metaverse-related services through Sam’s Club, Walmart will likely tap into a new market and attract a new demographic of customers.
The trademark applications filed by Walmart also indicate the company’s interest in the cryptocurrency space. The plans to offer a digital currency wallet, storage services software, and cryptocurrency exchange services clearly show Walmart’s intention to be a player in the crypto space.
The move into cryptocurrencies aligns with the growing demand for digital currencies, particularly as more people seek to take advantage of the benefits of decentralized and peer-to-peer transactions.
Walmart’s entry into the NFT and metaverse space through Sam’s Club represents a major step forward for the company and a sign of the growing popularity and potential of NFTs and the metaverse as new revenue streams for businesses.
The trend toward digitalization and the growing demand for virtual experiences is expected to drive the metaverse and NFTs in the coming years. Walmart’s entry into this space signals a new direction for the company and the potential for significant growth in this exciting new market.