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Walmart to Create Its Own Cryptocurrency

The retailer filed various patents for its own digital currency and virtual world

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Walmart (Bentonville, Ark.) is planning to create its own cryptocurrency and non-fungible tokens (NFTs) per its filings with the U.S. Patent and Trademark Office, reports Fortune.

The retailer applied for several new trademarks last month that signal its move to planting a flag in the metaverse. The trademarks were for virtual goods including electronics, décor, toys, sporting goods and personal care products.

Walmart filed three applications under “Walmart Connect” – its digital advertising arm – for a financial exchange for virtual currency and advertising. A Walmart spokesperson stated that it’s not unusual for the retailer to file trademark applications during the innovation process, and that they had no further information to share.

Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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