Walmart Plans To Launch Its Own Cryptocurrency And NFTs


Walmart: The Walmart store chain is yet another company starting ventures in the world of non-fungible tokens (NFTs) and cryptocurrencies. For now, however, the company’s entry into the industry is still in the realm of ideas: Walmart has had seven patents approved by the U.S. Patent and Trademark Office (USPTO) related to e-commerce, which includes a possible entry of the company into the metaverse.

What to Expect from Walmart NFTs?

According to CNBC, the registered patents suggest two different projects and still no forecast to become reality.

The first is offering an entirely new virtual currency, as well as creating and trading NFTs — possibly based on products listed by the store chain itself. And this market is booming: according to surveys, the sale of these digital goods moved nearly $25 billion globally in 2021 and has already attracted the attention of brands like Nike and Adidas, already eyeing virtual collections or tokens that authenticate products purchased in stores.

The second group of patents is related to more traditional e-commerce, but with concepts that involve Virtual Reality (VR) and a digital store that has all the products available in the company’s catalog. At the beginning of the month, an old video of the company imagining purchases in VR ended up going viral, showing that the company has had its eye on this market for a long time.