Wednesday, May 18

On the mute, Walmart prepares to launch cryptocurrency, says CNBC

The large supermarket chain Walmart is preparing to launch itself into the metaverse, in the cryptocurrency and NFTs market, according to an article published by CNBC. Recently, the company was associated with Litecoin cryptocurrency in a fake press release and resonated badly in the world community.

Despite this, in October 2021, Walmart entered into a partnership to allow the installation of Bitcoin ATMs in its US stores.

In other words, it was already possible to enter a market to acquire digital currencies, showing that it was possible for news to emerge from there. It is worth remembering that in August of last year a job vacancy from this company already asked for knowledge in cryptocurrencies and blockchain technology.

Walmart Cryptocurrency

Walmart moves suggest metaverse and cryptocurrencies are not far from the company

It is important to remember that a video of Walmart in the metaverse published in 2017, which circulated on the internet in early 2022, shows that the company actually started testing a model of shopping in virtual format a few years ago, according to information from The Verge.

As the metaverse field is an old one, several companies have already tested this sector and envisioned offering services with metaverse, for example, the fact of making a purchase in a market.

However, recent moves by Walmart show that the subject of metaverse and even cryptocurrencies grows even more in the interest of this company. According to journalist Lauren Thomas, from CNBC, on December 30, Walmart filed several patent applications in the United States to deal with these technologies.

In all, with seven patent applications listed, the company has made it clear that it is keeping an eye on the market, according to a lawyer specializing in trademark registration in the United States and speaking to CNBC.

“There is a lot of language in them, which shows that there is a lot of planning going on behind the scenes about how they are going to approach cryptocurrency. The metaverse and the virtual world that seems to be coming or is already here.”

Bitcoin Expert Not Very Convinced by Metaverse Purchases

Despite Walmart’s alleged involvement with the metaverse and cryptocurrencies, one Bitcoin expert didn’t find the idea of ​​shopping like this very promising.

According to Anthony Pompliano, with online shopping growing all over the world, such as Uber Eats, which will now focus on its Cornershop app, going to supermarkets should decrease a lot, as it is an activity that is not pleasant.

That is, even in the metaverse, people do not want to go to the market to make purchases, indicating that even an eventual upgrade by Walmart to a virtual model will encounter barriers to adoption due to the behavior of current consumers.

Anyway, Walmart did not comment to CNBC if it is really targeting the cryptocurrency sector and the metaverse, but the market continues to follow the giant company’s movements.