Retailers like Walmart are quietly distributing Metaverse.

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Some media reported that Walmart had applied for several new brands in late December last year, and business applications were involved in the development and sale of virtual goods. Walmart also responded in a statement that it was exploring how new technologies could improve future shopping.

Not only has Walmart applied for similar products, but Nike, Urban Outfitters, Ralph Lauren and Abercrombie & Fitch have also applied for virtual products in recent weeks.

This is enough to show that the models that world famous brands such as apparel, food, housing and transportation have gotten the next generation of Y and Z. ", "post-95s-post-10s" name ), so that their products can meet the needs of young people. , virtual space and virtual characters It is. very good landing on a metaverse composed of

The trending target of merchants is NFT, which has created a wide range of virtual devices including clothing, accessories, and communications of globally non-fungible digital tokens created and encrypted on the blockchain network. Other experiments are underway in the consumer goods industry, such as luxury goods and groceries.

Many retailers are requesting brands related to virtual goods.

Walmart last month sued a total of seven separate marketing apps for its goal of creating and selling virtual devices, including consumer electronics, appliances, gadgets and more games, toys and gadgets. personal care items. In a separate statement, the company said it would provide users with virtual currency and NFTs.

According to the press release, the US Patent and Trademark Office said Wal-Mart filed the patent application in December 30 years ago. Walmart said in a statement that it "continues to explore how new technologies may affect future purchases" but declined to comment on special commerce applications.

Product Online Store Marker Application Submitted by Walmart

"We're always trying new ideas," Walmart said. "Some ideas turn into products or services, and some are tested, repeated and learned."

Attorney General Josh Gerben said Walmart's filings were written in multiple languages. the bone."

After Facebook announced it had changed its name to Meta, companies quickly found ways to integrate into the virtual world, Gerben said.

Walmart isn't the only retailer trying to "understand the virtual world." In November, Nike Athletes launched a marketing app showcasing plans to sell VR branded sneakers and apparel. Urban Outfitters, Ralph Lauren and Abercrombie & Fitch stores have also applied for the brand in recent weeks, ready to open virtual stores.

After filing the trademark, Nike said it would work with Roblox to create an online world called Nikeland. In December, he acquired virtual sneaker company RTFKT for an undisclosed amount.

Clothing brand Gap NFT is selling its unique logo sweatshirt. Apparel companies say the NFT will cost around $8.30 to $415 and come with a real balaclava. Meanwhile, Under Armor and Adidas NFTs have been sold out since their inception, and these NFTs have grown in market prominence for OpenSea.

As more and more consumers become familiar with metaverse storage space and blockchain product needs, Gerben said, "Damn it, 'It's become a reality.' Gerben says, You can create your own ecosystem around it.

According to Frank Chaparro, director of crypto messaging service The Block, many retailers don't want to miss the moment in the virtual world as they are still impacted by the recent e-commerce crisis. "It's just a fad, and even trying something different like putting mainstream NFTs in the competition is a win-win, but it doesn't hurt your reputation that much," Chaparro said.

What can NFTs create for names?

Non-fungible tokens NFTs are widely known as the process of metaverse virtual worlds, so crypto tokens minted on a blockchain network can create value due to their drawbacks and can be used for real world applications. . carry?

According to a report published by CB Insights in May last year, NFTs represent the "real-time" model for businesses and retailers in applications such as consumer products physically, to reduce friction in e-commerce. , create new products through virtual sales. Retailers can support the development of the virtual world while connecting with customers.

The report presents our NFT application information to vendors. Advanced players will drive the adoption of NFTs; NFTs will continue to develop specialized digital experiences for specific businesses to interact with consumers online. seller.

Since luxury cars and NFTs distinguish between "insufficient driving costs" and "low cost driving costs", the first application guide for a combination of the two is being tested and released. visualization. Dolce & Gabbana, Burberry and Gucci are all looking for potential, and many luxury brands, including Louis Vuitton, Givenchy, Bulgari and Rimowa, have also experimented with NFT offerings. And Balenciaga works directly with Fortnite, a cross-platform game developer that sells NFT leather (virtual avatar clothing and accessories) for less than $10, and t-shirts, hats and hoodies are often sold at real price.

The Gap NFT Hoodie is sold out.

According to Morgan Stanley, high-end conglomerates could generate around $11.3 billion in revenue by 2030 from the virtual world, including NFTs, metaverse games, and optimistically that figure could top $20 billion. of dollars.

When it comes to how brands use NFT to interact with consumers, the CB Insights report found that not all brands can market by selling virtual products such as display, food and water, but they use NFT to attract consumers. By doing so, you can still make a profit. Groups are users who spend time in the virtual world or metaverse.

The data for this prediction also appears. Flyfish Club, a "seafood-inspired" restaurant owned by hotel and restaurant VCR Group, has announced that it will open in New York City in the first half of 2023. To access the club, members must have a Flyfish NFT. According to VCR founder and CEO David Rodolitz, the company released 1,501 NFTs this month, generating an estimated $15 million in revenue.

Food brand consumers have already advertised their products around the NFT craze, auctioning off digital artwork related to their brand or product to gain awareness among new citizens.

Last year, US food giant General Mills auctioned off 10 NFT digital artworks to promote the return of Dunkaroos, a cookie-flavored cookie that was discontinued in the US in 2012. In these NFT, the buyer with the highest bid will receive the chocolate-flavored Dunkaloo before it reaches the counter.

How can decentralized enterprises benefit from NFT use cases for brands and retailers?

CB Insights believes that as the real estate industry evolves, merchants can bypass e-commerce platforms such as Amazon or Alibaba and tokenize products and services, reducing online exchange rates and the risk of making a decision. . “For example, a fashion mark can symbolize the owner of a swimsuit and sell that mark (your ownership of the swimsuit) to whatever consumer or retailer is for sale.”

Boson Protocol, a decentralized network, has already announced that it will work with startups like Splyt Core, a crypto e-commerce company, to develop an NFT-based decentralized trading infrastructure. Paris-based advanced NFT platform Arianee has previously provided NFT-based tracking and certification solutions for several luxury brands, including Audemars Piguet and Breitling.