Walmart Takes Deeper Dive into Web3 with More NFT Trademark Filings
Per the latest filings, Sam's Club, Walmart's membership warehouse club, is planning to offer customers a virtual currency and NFTs.
Walmart is reportedly embracing Web3 per the latest trademark filings
Sam's Club, a Walmart subsidiary, has entered the metaverse by filing several trademark applications claiming plans for NFTs, crypto, and even healthcare services in virtual and augmented reality environments.
According to trademark attorney Mike Kondoudis, these applications were filed with the United States Patent and Trademark Office (USPTO) on January 31st by Walmart Apollo. To list, the company's applications cover a range of goods and services below:
- Financial services, such as providing NFTs and crypto for use by members of an online community;
- An online marketplace for users to trade crypto, NFTs, and digital collectibles;
- Blockchain-related software for crypto and NFT trading, as well as
- Healthcare services in virtual and augmented reality environments.
In a statement, Walmart said that it is "continuously exploring how emerging technologies may shape future shopping experiences." While the big-box retailer declined to comment on the trademark filings, the company said it is always open to testing new ideas.
"We are testing new ideas all the time," said Walmart. "Some ideas become products or services that make it to customers. And some we test, iterate and learn from."
Nonetheless, the filing of these trademarks is seen as a sign of the growing interest in NFTs among major brands, as well as the potential for this technology to be used in new and innovative ways.
It's worth noting that this is not Walmart's first foray into NFTs. Last year, the retail giant filed a set of trademark applications related to crypto and NFTs, seeking trademark protection for virtual goods such as electronics, skincare products, and more.
According to trademark attorney Josh Gerben, Walmart has put a lot of work into its crypto venture: "There's a lot of language in these, which shows that there's a lot of planning going on behind the scenes about how they're going to address cryptocurrency, how they're going to address the metaverse and the virtual world that appears to be coming or that's already here."
"I think it's a win-win for any company in retail," said Frank Chaparro, Director of News at The Block. "And even if it just turns out to be a fad, there's not a lot of reputation damage in just trying something weird out like giving some customers an NFT in a sweepstake, for instance."
