Sebastian Sinclair

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                <li>Walmart is exploring the possibility of introducing a &#8220;virtual currency for use by members of an online community&#8230;in the field of NFTs&#8221;</li>
                <li>The retail giant is also looking at providing a means for customers to interact with the metaverse and providing financial services involving crypto</li>
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<p>Retail giant Walmart has filed <a href="https://www.scribd.com/document/553279853/USPTO-97197296" target="_blank" rel="noreferrer noopener">several patents</a> with the US Patent and Trademark Office (USPTO) seeking to register a number of services and offerings related to the metaverse, non-fungible tokens (NFTs) and cryptocurrency.</p>



<p>Holly Lar, Senior Counsel for Intellectual Property at Walmart has filed a total of seven related applications on behalf of the retail giant. The news was <a href="https://www.cnbc.com/2022/01/16/walmart-is-quietly-preparing-to-enter-the-metaverse.html" target="_blank" rel="noreferrer noopener">first reported by CNBC</a> late Sunday.</p>



<p>According to the <a href="https://www.scribd.com/document/553280602/USPTO-97197301" target="_blank" rel="noreferrer noopener">applications</a>, filed Dec. 30, Walmart is exploring the possibility of introducing its customers to a &#8220;virtual currency for use by members of an online community&#8230;in the field of NFTs&#8221; as well as &#8220;financial transaction services involving cryptocurrency, NFTs and blockchain technology.&#8221;</p>



<p><a href="https://cms.blockworks.co/?s=nft">NFTs</a> are digital assets that provide proof of ownership over virtual and real-world assets which can also interact with the blockchain in unique ways. Since bursting onto the scene in early 2020, NFTs have sparked a vibrant movement and an active market valued at <a href="https://www.bloomberg.com/news/articles/2022-01-06/nft-market-surpassed-40-billion-in-2021-new-estimate-shows" target="_blank" rel="noreferrer noopener">over $40 billion</a>. Walmart appears to be positioning itself for a slice of that pie.</p>



<p>Other detailed patent applications further list Walmart&#8217;s ambitions to explore monetizing the metaverse by offering customers &#8220;downloadable augmented reality software, downloadable mixed reality software, virtual reality software for interactive entertainment and virtual reality gaming.&#8221;</p>



<p>The <a href="https://cms.blockworks.co/?s=metaverse">metaverse</a> refers to virtual worlds whereby several technologies are combined to create an online 3D- gaming, social and interactive experience. </p>



<p>Though Walmart&#8217;s patents are by no means a definite confirmation it will act on them in the future, the retailer said it is “continuously exploring how emerging technologies may shape future shopping experiences,” according to CNBC&#8217;s reporting. </p>



<p>Walmart did not comment on the specific trademark filings.</p>



<p>“We are testing new ideas all the time,” Walmart said. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”</p>



<p>It&#8217;s not the first time Walmart has filed applications with the USPTO relating to crypto. In 2019, the retailer filed an application for a stablecoin backed by real-world currency to service those &#8220;low-income households that find banking expensive.&#8221; Though that application has yet to be expanded upon.</p>



<p>The new applications will be assigned to an examining attorney in roughly six months&#8217; time.</p>



<p>See one of the seven applications listed below:</p>



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