Walmart crypto rumors heat up as retailer files multiple trademarks

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It looks like Walmart is finally gearing up to launch its own cryptocurrency, at least based on the trademark documents the retail giant filed in December 2021 with the United States Patent and Trademark Office (USPTO). ). This isn’t the first time we’ve heard rumblings from Walmart regarding the crypto market, but it’s the most exciting development yet.

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The trademark discovery was made by CNBC, which reports that Walmart filed its trademarks with the UPSTO on December 30, 2021. The documentation states, among other things, that Walmart may launch “financial services, namely, providing currency number and a digital token”. of value for use by members of an online community via a global computer network.

Walmart, as expected, did not provide any details about its plans, instead telling CNBC in a generic statement that it is “continually exploring the impact of emerging technologies” on its business. The company went on to say that it tests “new ideas all the time” and that some of them could become real products and/or services.

Despite the dismissive comments, Walmart’s branding documents hint at big plans behind closed doors — and this isn’t the first we’ve heard of the company potentially getting into cryptocurrency. In August 2021, Walmart posted a job posting seeking a senior manager for digital currencies. The language used in this job posting has fueled speculation that Walmart may be exploring cryptocurrency as a payment option.

Walmart NFT collectibles are coming?

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In a set of documents, Walmart also revealed potential plans to enter the non-fungible token (NFT) market, although it’s unclear how that might play out. Although they remain controversial and their future is unknown, NFTs have exploded in popularity, tying artworks and other digital content to the blockchain in a way that makes them “collectibles”.

Most often, NFTs are works of art that are sold on certain platforms for an amount paid in cryptocurrency. The buyer acquires the NFT and becomes the owner of the digital creation. However, many companies have adopted this blockchain technology as a way to offer promotional items.

For example, DC offered free NFT collectibles to fans who attended its 2021 FanDome event. Meanwhile, the NFL partnered with Ticketmaster to give select game attendees a commemorative version of their tickets in the form of NFT. It’s possible Walmart is offering free NFTs as promotional items, but it’s also possible the company has bigger plans, going so far as to sell tokens the same way retailers used to sell sports cards. .

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