Walmart and Sam’s Club enter the NFT market with trademark filings
Walmart and Sam’s Club, two of the largest retailers in the world, have filed several trademarks related to non-fungible tokens (NFTs) and cryptocurrency.
Walmart Sam’s Club NFT crypto trademarks
Walmart and its subsidiary, Sam’s Club, have recently filed for new trademarks relating to blockchain technology.
Walmart filed trademarks for the terms “Walmart Crypto Coin,” “Walmart Digital Coin,” and “Walmart Digital Currency,” indicating that the company may be planning to launch its cryptocurrency. It would not only give Walmart a new revenue stream but also provide customers with a new way to purchase goods and services.
Sam’s Club has also filed trademarks for the terms “Sam’s Club Digital Coin” and “Sam’s Club Digital Currency.”
The trademarks, identified by the numbers 97775159 and 97775152, aim to allow the retail behemoth to offer an array of virtual products, encompassing toys, sporting gear, personal grooming items, and home furnishings.
Walmart’s goal is to create a new revenue stream and give customers a new way to purchase goods and services.
Walmart files software for digital wallet and digital management
Walmart has filed patents for a digital wallet and other software related to managing digital assets. The company’s interest in blockchain technology has grown over the past few months. Yet, it is not fully known what Walmart’s plans are.
Still, it’s possible that blockchain technology, cryptocurrencies, and NFTs could help the company in many ways, like getting new income, becoming more secure and efficient, and making shopping better for customers.
Walmart has been paying attention to the progress of blockchain technology for a while now. In 2018, it started a digital currency called bulk coin for Sam’s Club members, which shows that Walmart was interested in digital currencies early on.
Recently, in 2022, there were reports that Walmart was planning to join the Metaverse, and it applied for its first NFT-related trademarks in late 2021. These actions show that Walmart knows about the advantages of blockchain technology and is trying to use it in its business.
Big companies embrace NFT and web3 gaming
In the first few weeks of 2023, many established companies have shown interest in the digital asset market.
Furthermore, sources indicate that Amazon is preparing to unveil its NFT and web3 gaming initiative, with an expected announcement in April. These actions by well-established corporations demonstrate the increasing significance and potential of digital assets.
Walmart’s recent patent activities, covering topics such as cryptocurrencies, non-fungible tokens (NFTs), virtual and augmented reality in healthcare and education, and its intention to launch a digital wallet, showcases the retailer’s dedication to investigating the possibilities of blockchain technology.
As the company continues to evaluate the integration of these innovative technologies into its operations, we’ll probably observe more advancements and declarations from Walmart soon.