0

WHY THIS MATTERS

The metaverse is potentially a multi-trillion dollar opportunity – eventually – and companies are experimenting and laying their stakes already.

 

Love the Exponential Future? Join our XPotential Community, future proof yourself with courses from XPotential University, read about exponential tech and trendsconnect, watch a keynote, or browse my blog.

When it comes to the next hot new trend the metaverse is it, and everyone it seems want to claim their stake in this new digital wonderland. Now, hot on the heels of Facebook, now Meta, Walmart looks like it’s serious about getting into the metaverse as well after it filed three new patents with the US Patent Office for its own cryptocurrency and Non-Fungible Tokens (NFTs).

 

RELATED
MIT breakthrough lets virtual reality gamers cut the chord

 

The retail giant would be just the latest corporate player to wade into the emerging industry of virtual experiences and virtual worlds, referred to as the metaverse, which could include everything from offering digital versions of its products in the form of NFTs all the way through to selling virtual, metaverse experiences all, of course, paid for with a Walmart token.

At least three filings made on 30 December with the patent office indicate plans at Walmart to expand into digital assets and virtual experiences.

 

RELATED
Google and HTC are developing invisible VR headsets

 

One trademark filing details the creation of a Walmart virtual currency, in addition to cryptocurrency exchange services using blockchain technology while a separate application to the USPTO describes downloadable software for uses ranging from E-Commerce to Augmented Reality (AR) as well as managing a portfolio of cryptocurrencies. And the third filing details the possibility of a Virtual Reality (VR) game or online retail service featuring a marketplace of digital goods authenticated by NFTs.

These goods could range from home appliances to sporting goods, beauty products, patio furniture, and musical instruments — all listed in the trademark application. And as for when all these new things might emerge, well the company had this to say:

 

RELATED
At just a single photon the world’s smallest transistor has literally zero size

 

“Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” said a spokesperson, “We don’t have anything further to share today, but it’s worth noting we routinely file trademark applications as part of the innovation process.”

About author

Matthew Griffin

Matthew Griffin, described as “The Adviser behind the Advisers” and a “Young Kurzweil,” is the founder and CEO of the World Futures Forum and the 311 Institute, a global Futures and Deep Futures consultancy working between the dates of 2020 to 2070, and is an award winning futurist, and author of “Codex of the Future” series. Regularly featured in the global media, including AP, BBC, Bloomberg, CNBC, Discovery, RT, Viacom, and WIRED, Matthew’s ability to identify, track, and explain the impacts of hundreds of revolutionary emerging technologies on global culture, industry and society, is unparalleled. Recognised for the past six years as one of the world’s foremost futurists, innovation and strategy experts Matthew is an international speaker who helps governments, investors, multi-nationals and regulators around the world envision, build and lead an inclusive, sustainable future. A rare talent Matthew’s recent work includes mentoring Lunar XPrize teams, re-envisioning global education and training with the G20, and helping the world’s largest organisations envision and ideate the future of their products and services, industries, and countries. Matthew's clients include three Prime Ministers and several governments, including the G7, Accenture, Aon, Bain & Co, BCG, Credit Suisse, Dell EMC, Dentons, Deloitte, E&Y, GEMS, Huawei, JPMorgan Chase, KPMG, Lego, McKinsey, PWC, Qualcomm, SAP, Samsung, Sopra Steria, T-Mobile, and many more.

Your email address will not be published. Required fields are marked *