Cryptocurrencies Bitcoin, Dogecoin, and Shiba Inu may soon have new competition from an unlikely source: Walmart. Indeed, the retail giant could soon have a new product to offer its millions of loyal customers: its own cryptocurrency.
As TBEN reports, Walmart filed several new trademarks last month that strongly suggest the company intends to get into the cryptocurrency game. On December 30, 2021, Walmart filed applications for several trademarks, two of which almost confirm that the company is actively working on digital currencies and the metaverse.
Once the request is for “financial services, namely, the provision of a digital currency and valuable digital token for use by members of an online community via a global computer network” and another for “downloadable software for use in the management of digital currency wallets, currency, cryptocurrency, digital and blockchain assets, digitized assets, digital tokens, cryptographic tokens and utility tokens: downloadable software for electronic wallet services; downloadable electronic wallets. In addition to filings related to the launch of its own cryptocurrency, other filings show that Walmart is exploring creating its own NFTs.
Of course, this isn’t the first time the company has attempted to move into the virtual space beyond online shopping. When MySpace was still one of the hottest things in tech, Walmart launched its own ill-fated social media network called The Hub. It lasted 10 weeks before being closed.
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