Walmart Has Entered the Chat

🛒 Walmart filed several new trademarks late last month indicating plans to start selling virtual goods, including its own cryptocurrency and collection of NFTs. In doing so, it joins a growing list of retailers taking part in the metaverse movement:

• Nike has also filed a slew of trademark applications signaling its intent to sell virtual branded sneakers and apparel, and recently teamed up with Roblox to create an online world called Nikeland. Last month, it bought the virtual sneaker company RTFKT (pronounced “artifact”).
• Both Under Armour and Adidas’ NFT debuts last month sold out within hours and are currently fetching high prices on OpenSea. Gap has also started selling NFTs of its iconic logo sweatshirts.
• Urban Outfitters, Ralph Lauren, and Abercrombie & Fitch have filed trademarks in recent weeks indicating they intend to open virtual stores.

+That’s a big number: Monetization of metaverse users in the US alone could be worth $8 trillion, according to Morgan Stanley.