Walmart enters the Crypto and NFTs space

Updated: Jan 27

The retail giant, Walmart is getting ready to launch its own cryptocurrency.

According to its recent trademark applications that have been reviewed by CNBC, Walmart is preparing to venture into crypto and non-fungible tokens (NFTs).

The reports show that Walmart intends to issue its own digital asset. Aside from this, the retailer is also preparing to enter the metaverse space by trying to get trademark protection for different virtual goods, including skincare products, electronics, electronics and others.

Following this, Gerben Law Firm founder Josh Gerben also commented on Walmart plan, saying there's a lot of language in these, which shows that there's plenty of planning going on behind the scenes about how they're going to tackle cryptocurrency. And also about how they're going to address the metaverse and the virtual world.

Note that Walmart started hosting Bitcoin ATMs at some of its stores in the U.S. in October.

For instance, this comes after the firm became inadvertently embroiled in a crypto pump-and-dump scheme last year in September.

Also, last year, scammers spread fake news about Walmart accepting Litecoin (LTC) that slightly sent the price of the coin jumping before the retail giant shut down the rumors.

However, in August 2021, Walmart started hiring cryptocurrency and blockchain experts.