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CNBCâs Melissa Repko is author of this reporting.
- Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of NFTs.
- The big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods.
- In a separate filing, the company said it would offer users a virtual currency, as well as non-fungible tokens, or NFTs.
Walmart appears to be venturing into the metaverse with plans to create its own cryptocurrency and collection of non-fungible tokens, or NFTs.
The big-box retailer filed several new trademarks late last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. In a separate filing, the company said it would offer users a virtual currency, as well as NFTs.
According to the U.S. Patent and Trademark Office, Walmart filed the applications on Dec. 30.

Source: Gerben Intellectual Property
In total, seven separate applications have been submitted.
A spokesperson from Walmart didnât immediately respond to CNBCâs request for comment.

Source: Gerben Intellectual Property
âTheyâre super intense,â said Josh Gerben, a trademark attorney. âThereâs a lot of language in these, which shows that thereâs a lot of planning going on behind the scenes about how theyâre going to address cryptocurrency, how theyâre going to address the metaverse and the virtual world that appears to be coming or thatâs already here.â
Gerben said that ever since Facebookannounced it was changing its company name to Meta, signaling its ambitions beyond social media, businesses have been rushing to figure out how they will fit into a virtual world.
Nike filed a slew of trademark applications in early November that previewed its plans to sell virtual branded sneakers and apparel. Later that month, it said it was teaming up with Roblox to create an online world called Nikeland. In December, it bought the virtual sneaker company RTFKT(pronounced âartifactâ) for an undisclosed amount.
âAll of a sudden, everyone is like, âThis is becoming super real and we need to make sure our IP is protected in the space,ââ said Gerben.
Gap has also started selling NFTs of its iconic logo sweatshirts. The apparel maker said its NFTs will be priced in tiers ranging from roughly $8.30 to $415, and come with a physical hoodie.
Meantime, both Under Armourâs and Adidasâ NFT debuts sold out last month. Theyâre now fetching sky-high prices on the NFT marketplace OpenSea.
Gerben said that apparel retailers Urban Outfitters, Ralph Lauren and Abercrombie & Fitch have also filed trademarks in recent weeks detailing their intent to open some sort of virtual store.
A report from CB Insights outlined some of the reasons why retailers and brands might want to make such ventures, which can potentially offer new revenue streams.
Launching NFTs allows for businesses to tokenize physical products and services to help reduce online transaction costs, it said. And for luxury brands like Gucci and Louis Vuitton, NFTs can serve as a form of authentication for tangible and more expensive goods, CB Insights noted.
Gerben said that as more consumers familiarize themselves with the metaverse and items stored on the blockchain, more retailers will want to create their own ecosystem around it.
According to Frank Chaparro, director at crypto information services firm The Block, many retailers are still reeling from being late to e-commerce, so they donât want to miss out on any opportunities in the metaverse.
âI think itâs a win-win for any company in retail,â Chaparro said. âAnd even if it just turns out to be a fad thereâs not a lot of reputation damage in just trying something weird out like giving some customers an NFT in a sweepstake, for instance.â