Walmart, the largest US retailer, plans to make its own crypto and sell NFTs. The company’s wide-scale reach means this will be great for crypto adoption. At the same time, in case they enter the crypto space properly, there are chances that they will start accepting Bitcoin for payments as well. All these reports have surfaced as the company has filed for trademarks to make its own digital currency.
Walmart’s plan
Many many months back, there were rumors that Walmart is going to accept payments in Litecoin. These rumors helped the price of LTC pump and dump around 25% within hours. Although the news seemed too good to be true at the time, the company has finally gotten into the world of cryptocurrencies. Other than creating their own crypto, Walmart also plans to mint and sell NFTs and virtual assets.
The company’s trademark for financial services included a lot of things that show they are going to experiment in a lot of sectors. First is the NFTs and blockchain tech; secondly, an exchange for crypto, then there is their plan to create its tokens, crypto, NFTs, and any services including NFTs & crypto.
Walmart’s trademark application also shows that they might make software’s in the future. This softwares can be used in e-c0mmerce marketplaces in mobile/game devices and can also be used for fund transfers, blockchain, crypto, and other similar uses. While all this sounds great, the best trademark was the one for a virtual store which shows their interest in the metaverse. The virtual store will feature all the items from furniture to books that its stores normally have.
Great for crypto and metaverse
In the near future, whatever virtual world Walmart plans to open its store in will push the price of its token. At the same time, in the long run, it will be great for metaverse in general. Plus, the release of its cryptocurrency means Walmart might start accepting Bitcoin across all its stores in the US. Even if we keep all this aside, the fact that such a large company is looking in crypto makes me even more bullish for 2022.
What are your thoughts as Walmart plans to make its own crypto? And do you think they will soon start accepting crypto payments as well? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Majority of J.P. Morgan clients expect Bitcoin to reach $60k this year.
