Significantly entering the metaverse, Walmart plans to create a cryptocurrency and an NFT.

Unlike the last Litecoin Oolong event, it is as if Walmart, a major company in the export industry, has entered the 'Metaverse' in the lead and plans to develop its own cryptocurrency and NFT (Non Fungible Token ). ).

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According to CNBC local time on April 16,Walmart applied to several new brands last month, expressing interest in designing and selling virtual goods, including consumer electronics, home appliances, toys and gadgets for using football equipment and of personal care products. The company also said in a separate statement that it will provide users with virtual currency and NFTs.

According to the US Patent and Trademark Office, Walmart filed a total of seven separate patent applications on December 30 last year. The report shows that major retailers have taken an important step towards change.

Walmart said in a statement"Ongoing research into how new technologies can improve future purchases.".

"While I can no longer report today, it should be noted that we are regularly applying for business under our new agenda."

Walmart also mentioned what would happen in August when it announced a project announcement on the development of "digital and digital products" involving investments related to cryptocurrencies and cryptocurrencies. cooperate".

However, in September of the following year, when news broke that LiteCoin had teamed up with Walmart, a bullying incident occurred and Litecoin jumped 33%. According to the report, Walmart announced that Litecoin could be used for online payments, but Walmart quickly refused to partner with Litecoin.

In October, Reuters reported that Walmart had formed a partnership with cryptocurrency exchange Coinstar that would allow consumers in U.S. stores to purchase bitcoin through Coinstar kiosks. A Walmart expert said there will be 200 Coinstar kiosks in Walmart stores nationwide.

In December, Walmart CFO Brett Biggs told an analyst meeting:The company will allow customers to pay with cryptocurrency if they choose, but the company believes there is no need to rush features.

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Regarding marketing lawyer Josh Gerben, CNBC reported that more companies were looking for ways to enter the metaverse after Facebook announced that it had changed its name to Meta.

Gerben this:"Immediately it became a reality for everyone and we need to protect our intellectual property in this area."

Apparel Maker Gap also began selling NFTs on sweatshirts bearing the iconic logo. Gap says the NFTs cost around $8.30 to $415 and come with a hooded body.

Meanwhile, sports gear under Armor and Adidas have sold off their new NFTs launched last month, and are now trading at a very high price in the negative market, OpenSea.

City Outfitters, Ralph Lauren and Abercrombie & Fitch have also filed trade applications in recent weeks to open virtual stores, Gerben said.

According to a report by industry research firm CB Insights,Retailers and wholesalers need these investments because they can generate new revenue.

says the company,With the introduction of NFTs, companies can reduce the cost of doing business online by tokenizing their products and services.

CB Insights said that for luxury brands such as Gucci and Louis Vuitton, NFTs can be used as a certificate for increasingly expensive products.

According to JP Morgan research, NFT sites have been hot over the past year,Although cryptocurrencies have fallen by more than 40% in the past two months, the market capitalization of the NFT position is higher than ever. And it's the strongest tool in 2021, before Fed policy tightening.

As more consumers become aware of the metaverse and blockchain storage assets, more retailers will want to build their own ecosystem around blockchain, Gerben said.

According to Frank Chaparro, director of encrypted messaging service The Block,Many suppliers are still struggling to keep pace with e-commerce and don't want to miss out on the virtual world all the time.

"I think it's a win-win situation for every company." "Even if it's just a fad, try something different, like giving some NFT users a freebie without damaging their reputation."