According to recent trademark applications obtained by CNBC, the Bentonville-based retail juggernaut Walmart is planning a foray into crypto and non-fungible tokens (NFTs).
According to one of the files, America’s largest private employer plans to launch its cryptocurrency.
Walmart is also preparing for the “metaverse” by filing trademark applications for various virtual goods, including electronics, skincare products, gadgets, and more.
Walmart has put a lot of work into its cryptocurrency foray, according to Gerben Law Firm founder Josh Gerben, who says there’s a lot of language in these that shows there’s a lot of planning going on behind the scenes about how they’re going to address cryptocurrency, the metaverse, and the virtual world that appears to be coming or that’s already here.
Walmart began hosting Bitcoin ATMs in several of its U.S. locations in October.
This followed the company’s unintentional involvement in a cryptocurrency pump-and-dump operation in September. Scammers released a false news release claiming that Walmart would take Litecoin, sending the price of the original altcoin skyrocketing until the retailer refuted the hoax.
The company’s decision to focus on cryptocurrency was expected. It began recruiting a bitcoin and blockchain expert in August.
According to a recent Morning Consult survey, Walmart customers are more likely than the typical American to own Bitcoin.