Mon. Nov 28th, 2022

At a time when virtual reality/augmented reality (VR/AR) and Blockchain-based worlds are becoming increasingly popular, retail giant Walmart has announced plans to enter the market.

According to CNBC, Walmart has filed trademarks indicating that it intends to create its own non-fungible tokens and cryptocurrency.

VR/AR environments could be used to offer classes in the fields of health and nutrition, according to one trademark application. Another filing by the company stated “it would provide users with virtual currency and non-fungible tokens, or NFTs,” according to the report on Sunday’s filings.

According to media reports, a Walmart spokesperson said the company is “continually exploring how emerging technologies may shape future shopping experiences” at Walmart.

“We’re constantly experimenting with new ideas. People buy products and services based on some ideas. In addition, there are some that we try out, iterate on, and learn from “according to the firm’s assertions.

NFT and virtual sneaker offerings from Nike and Adidas are just two examples of retailers preparing for the metaverse, with Nike looking to expand into NFTs and virtual sneakers in the near future.

Gap Has Also Begun Selling Non-Traditional T-shirts with the Company’s Iconic Logo

For this year’s transactions in the Metaverse, tech giants like Meta (formerly Facebook) are aiming to bring deeper immersive experiences to billions of people around the world through VR/AR-based technology. Strategy Analytics predicts that by 2026, the global Metaverse market will be worth nearly $42 billion.

Facebook has stated that it plans to invest more than $10 billion in developing its vision for the Metaverse.

By Adam

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