Walmart to the Metaverse: the plans of the retail giant

Walmart to the Metaverse

The North American retail giant, Walmart, initiated the technological adaptation plans on its way to enter the Metaverse. To do this, it presented a series of new brands, among which the creation of its own token and a collection of NFTs stands out. The latter would be made up of clothing, home decorations (interior and exterior) and more.

It is a new participant that would be joining the plans of this future technology that could be the successor of the Internet. It should be noted that his entry could be one of the most important given the magnitude of the firm. Despite this, its actions are less noisy than the pompous initiative of Meta (former Facebook), which changed its name to make its plans more noisy.

Other large firms of great caliber are fully involved in the preparation of their entry into this virtual world. Among these, the technology companies NVIDIA, Roblox and Amazon stand out, as well as other firms such as the legendary Coca-Cola, Adidas and a series of Chinese companies. The virtual products of these companies would come in the form of non-fungible tokens (NFTs).

Walmart to the Metaverse

Walmart’s Strategy to Head for the Metaverse

Walmart’s strategy to enter the parallel world of the Metaverse is both simple and puzzling. The latter because their products for the Metaverse would be the equivalent of the real products, but in digital format. That is, toys and personal care products for the avatars that users will handle in that virtual world.

It should be noted that in the Metaverse people will be able to work, attend concerts or go sightseeing without leaving their homes. They will carry out the most varied social activities through avatars which they will control through a vision helmet in Augmented Reality, Artificial Intelligence and other technologies such as Blockchain.

This technology fascinates millions of people and terrifies many others. However, it is objective and is under construction. In that sense, the aforementioned retail sales company would have filed the request for its products on December 30 according to the US Patent and Trademark Office, according to CNBC.

In this way, Walmart joins the race for its products to win the favoritism of the avatars. As already highlighted, the firm filed two applications with the aforementioned entity, the first for NFT products and the second for its own cryptocurrency.

Many aspects to clarify

The information on the plans of the retail company came to light thanks to the publication of the aforementioned Office. On the part of the company, until now there is no pronouncement with clear data on its roadmap. Instead, they just produced a report stating that they are exploring all technological alternatives. However, they declined to offer statements to the aforementioned media.

Taking this into account, uncertainties arise as to whether the company will create its own version of the Metaverse like Disney or if they will enter the most varied ones to offer their merchandise. Be that as it may, Walmart enters the race to forge its presence in the technology of the Metaverse.

We are testing new ideas all the time,” points out the aforementioned report from the retail firm. So far, there is no reaction in the brand’s shares because this Monday was a holiday related to Martin Luther King Jr. It should be noted that so far this year, Walmart shares are positive at 0.3% vs. the 2.8% decline in the S&P 500 index.