Metaverse Begins to Take Over as Walmart, Nike, Disney, Instagram Explore Virtual World

As the Metaverse is gradually becoming the new hottest topic in town, multinational retail company Walmart (NYSE: WMT) seems to be making its way into the latest trend. The retailer’s plans to debut into the metaverse space include creating its own crypto assets and collecting non-fungible tokens (NFTs). In the last month, the company filed many new trademarks showing its intention on virtual goods. Per the US Patent and Trademark Office, Walmart’s applications were filed on the 30th of December.

Walmart to Explore the Metaverse

Although the retailer did not comment on the specific trademark filings, it spoke on its evolution. Walmart said it would continue to explore how “emerging technologies” like the Metaverse may enhance shopping experiences in the future.  The company wrote:

“We are testing new ideas all the time. Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”

Walmart submitted a total of seven applications, revealing its plans revolving around the Metaverse. The company is planning to make and sell virtual goods such as home decorations, outdoor recreation, sporting goods, electronics, entertainment recordings, personal care products, and toys. Additionally, the multinational retail company said it would offer virtual currencies and NFTs to its users.

The filings have raised reactions from a trademark attorney Josh Gerben who referred to them as “super intense.” Gerben noted that the filings indicate that Walmart has been making a lot of behind-the-scene movements towards the Metaverse. The attorney made reference to last year’s announcement from Facebook (NASDAQ: FB), changing its company name to Meta. In the announcement, Facebook said it is now exploring social technology, stating its focus beyond social media. Since then, several businesses have been taking steps in placing their root in the Metaverse.

Metaverse Interest Grow Among Companies

American multinational corporation Nike (NYSE: NKE) is on the list of companies showing interest in the Metaverse. Apart from filing trademark applications in November, the company also said it was collaborating with Roblox to develop an online world dubbed Nikeland. As 202 was ending, Nike acquired virtual sneaker company RTFKT.

The entertainment giant, Disney, was recently approved for a “virtual-world simulator” patent as the year was about to close in 2021. The patent will be used in creating personalized interactive attractions for visitors of the theme part. Disney has been showing interest in the Metaverse before now. CEO Bob Chapek said during the company’s Q4 earnings call in November that Disney was in a move to “connect the physical and digital worlds.”

With more than 2 billion users, Instagram also brings NFTs to its social media platform. According to CEO Adam Mosseri, the company will launch features incorporating NFTs. In a recent Instagram story, the CEO declared:

“Nothing to announce yet, but we are definitely actively exploring NFTs and how we can make them more accessible to a broader audience. I think it’s an interesting place where we can play, and also a way to hopefully help creators.”

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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.