Walmart files trademarks to create its cryptocurrency and sell NFTs

New Ideas in MarketingEssential news for marketers, summarised by YouGov
January 21, 2022, 3:28 AM GMT+0

New ideas are being tested to offer new products and services, as per Walmart.

Walmart filed various trademarks at the end of December 2021, indicative of its plans to produce and sell virtual commodities like non-fungible tokens (NFTs) and create its own cryptocurrency. The retail giant wants to provide its consumers virtual currency as well as other virtual goods.

Following Facebook's rebranding to Meta, Walmart's new trademarks serve as a strong signal of where the retail sector is headed. A press release by Walmart said they are “continuously exploring how emerging technologies may shape future shopping experiences.”

The recent trademark filings by Walmart, according to trademark attorney Josh Gerben, are “super intense.” Apparel retailers like Abercrombie & Fitch and Urban Outfitters have also submitted trademarks applications to create virtual stores and sell virtual goods.

Discover the top organisations in your market and industry that have customers buzzing using YouGov BrandRankings.

Read the original article

[2 minute read]


Explore more data & articles