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Retail giant Wal-Mart will enter Metaverse to sell NFTs

San Francisco: With the Metaverse being talked about, retail giant Wal-Mart has unveiled plans to enter the immersive virtual reality / augmented reality (VR / AR) and blockchain-based world.

Wal-Mart’s trademark application shows that the company is trying to establish its own NFT (Non-Fungible Token) and cryptocurrency, CNBC reports.

One of the trademark applications details the “physical training services” and “classes in the field of health and nutrition” that may occur in a VR / AR environment.

In another filing, the company “provides users with cryptocurrencies and non-fungible tokens or NFTs.”

“Wal-Mart is continually investigating how new technologies will shape the future shopping experience,” a Wal-Mart spokeswoman reportedly said in a media report.

“We are constantly testing new ideas. Some ideas are products or services that reach our customers, and there is also something we test, repeat, and learn,” the company said. increase.

Other retailers are also planning to enter the Metaverse. For example, Nike aims to introduce NFTs and virtual sneakers, and Adidas has sold out Metaverse’s NFT collection.

Gap has also launched the NFT, a sweatshirt with the iconic logo.

The Metaverse transaction market is expected to reach $ 6.1 billion this year. This is because technology giants like Meta (formerly Facebook) are very much aiming for VR / AR-based technology, bringing a deeper immersive experience in the future.

According to research firm Strategy Analytics, the global Metaverse market is projected to reach nearly $ 42 billion worldwide by 2026.

Facebook, a social media giant, says it will spend more than $ 10 billion to build a vision for the Metaverse.

https://www.siasat.com/retail-giant-walmart-plans-to-enter-metaverse-sell-nfts-2259521/ Retail giant Wal-Mart will enter Metaverse to sell NFTs

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