Walmart Might Soon Be Rolling Out Its Own Cryptocurrency New trademark applications filed by the retailer could completely disrupt the metaverse.

By Emily Rella

Bloomberg | Getty Images

The high demand for and success of NFTs in the crypto world and digital marketplace make it unlikely that the craze will be going away anytime soon.

Many companies and chains have already jumped on the bandwagon, with everyone from McDonald's making their fan-favorite McRib sandwich into an NFT to Nike purchasing RTFKT, a company that helps generate NFTs.

And according to newly filed trademark applications, it looks like mega retailer Walmart is next in line — and in a pretty major way at that.

CNBC first reported that the retailer filed seven different trademark applications over the course of the past month per information obtained from the U.S. Patent and Trademark Office.

One is a patent that seeks "financial services, namely, providing a digital currency and a digital token of value for use by members on an online community via a global computer network."

Related: 'Tiger King' Joe Exotic Is Selling Assets as NFTs From His Prison Cell

This could potentially mean that Walmart would be looking to create and trademark its own form of cryptocurrency to be used in an online marketplace, a concept that goes far beyond simply mining Walmart-branded NFTs.

Other trademark applications call for "on-line retail store services featuring virtual merchandise" and "downloadable software for use in managing portfolios of digital currency."

This would make Walmart a major player in the metaverse, potentially creating what seems to be its own store and digital sphere where consumers can shop and communicate in the 4D.

Though Walmart has not publicly commented on the applications or future plans for the metaverse, the company told CNBC that it is "testing new ideas all the time."

"Some ideas become products or services that make it to customers. And some we test, iterate, and learn from," the retailer stated.

Related: Google Finance Adds a Tab for Bitcoin, Ether and Litecoin

This past September, a fake press release was sent around unauthorized by Walmart which claimed that cyrptocurrency litecoin would soon be able to be used for payment at Walmart online, which sent the coin skyrocketing over 30% at the time of the release.

"Walmart had no knowledge of the press release issued by GlobeNewswire and there is no truth to it," the company said. "Walmart has no relationship with litecoin."

But according to the company's latest trademark applications, it looks like the use of crypto at the discount retailer may not be such a far-fetched concept after all.

Walmart was up 1.16% as of Monday morning.

Related: Walmart Shuts Down Fake Press Release Claiming That Crypto Coin Can Be Used as Payment

Wavy Line
Emily Rella

Entrepreneur Staff

Senior News Writer

Emily Rella is a Senior News Writer at Previously, she was an editor at Verizon Media. Her coverage spans features, business, lifestyle, tech, entertainment, and lifestyle. She is a 2015 graduate of Boston College and a Ridgefield, CT native. Find her on Twitter at @EmilyKRella.

Editor's Pick

A Father Decided to Change When He Was in Prison on His Son's Birthday. Now His Nonprofit Helps Formerly Incarcerated Applicants Land 6-Figure Jobs.
A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John
3 Mundane Tasks You Should Automate to Save Your Brain for the Big Stuff
The Next Time Someone Intimidates You, Here's What You Should Do
5 Ways to Manage Your Mental Health and Regulate Your Nervous System for Sustainable Success

Related Topics

Business News

'I've Got the Bug for Business': See All of Mark Wahlberg's Entrepreneurial Endeavors, From Marky Mark and the Funky Bunch to Wahlburgers

Mark Wahlberg owns businesses in several categories, including entertainment production, apparel, fitness, and nutrition.

Business News

'I Am Just Floored': Woman Discovers She Won $1 Million Lottery Prize While Checking Her Email at Work

Initially, she thought the email was a scam, but went to lottery headquarters and walked away with a six-figure check after taxes.

Business News

South Park Creators Spent 'Infinity Dollars' Renovating Iconic Colorado Restaurant, Set to Reopen Soon

Casa Bonita, a long-time favorite of South Park creators Trey Parker and Matt Stone, went bankrupt during the pandemic. The duo purchased and painstakingly renovated the Mexican spot "like a piece of art," Stone said.

Business News

Amazon Might Soon Be Adding Ads to Prime Video

The company wants to generate more ad revenue for its streaming service.

Growing a Business

Want Startup Advice? Start by Getting Off TikTok

TikTok is better used for cooking demos than startup advice. You'll get a lot more value face-to-face.


How to Identify and Handle Toxic Business Leadership

Toxic business leaders are the danger of modern corporate life. Unfortunately, they may hide behind good reputations. Let's discuss four signs of toxic leadership and strategies to deal with it.