Walmart Inc is preparing to create its own cryptocurrency and collection of non-fungible tokens (NFTs), filings with the US Patent and Trademark Office show, setting the stage for meeting its customers in the emerging metaverse.
The retailer last month sought several new trademarks that show it intends to make and sell virtual goods such as electronics, decor, toys, sporting goods and personal care products.
The applications, which were first reported by CNBC, represent a significant step for the retail giant as it studies how to participate in the metaverse, a virtual world that blends aspects of digital technologies.
Photo: Reuters
Walmart in August last year advertised a position to develop the “digital currency strategy and product roadmap,” while identifying “crypto-related investment and partnerships,” a job posting on the company’s Web site said.
The applications were among a flurry that the company filed on Dec. 30, including three under “Walmart Connect” — the name of the company’s existing digital advertising venture — for a financial exchange for virtual currency and advertising.
Applications also were filed for “Verse to Store,” “Verse to Curb” and “Verse to Home” for shopping services.
It is also seeking trademarks to apply the Walmart name and “fireworks” logo to healthcare services and education in virtual and augmented reality.
“Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” the company responded in an e-mailed statement. “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.”
All of the applications were filed indicating that the company intends to use them, but has not yet begun doing so.
The trademarks would not be registered until they are in actual use.
The company’s cryptocurrency plans were the subject of a high-profile hoax in September last year, when a fake announcement caused a short-lived surge in litecoin, a relatively obscure cryptocurrency.
The fabricated news release said that Walmart would start letting its customers pay with litecoin.
In October, the Arkansas-based retailer started a pilot program in which shoppers can buy bitcoin at Coinstar kiosks in some of its stores.
The test with Coinstar, which is known for the machines that let customers exchange US coins for paper bills or gift cards, includes 200 kiosks in Walmart stores.
Early last month, Walmart chief financial officer Brett Biggs told an analyst conference that the company was open to allowing shoppers to pay in cryptocurrency if customers demand it, but the company did not see a need to rush out any capabilities.
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Taiwan’s foreign exchange reserves fell below the US$600 billion mark at the end of last month, with the central bank reporting a total of US$596.89 billion — a decline of US$8.6 billion from February — ending a three-month streak of increases. The central bank attributed the drop to a combination of factors such as outflows by foreign institutional investors, currency fluctuations and its own market interventions. “The large-scale outflows disrupted the balance of supply and demand in the foreign exchange market, prompting the central bank to intervene repeatedly by selling US dollars to stabilize the local currency,” Department of Foreign
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —
AI-FUELED DEMAND: The company has been benefiting from the skyrocketing prices for DRAM chips amid the AI frenzy, especially its core product — DDR4 DRAM chips DRAM chipmaker Nanya Technology Corp (南亞科技) yesterday reported that its revenue for the first quarter surged 582.91 percent to NT$49.09 billion (US$1.54 billion) from NT$7.19 billion a year earlier, as the supply crunch caused chip price spikes. Last quarter’s figure is the highest on record. On a quarterly basis, revenue jumped 63.14 percent from NT$30.09 billion, the company said. In January, Nanya Technology expected global DRAM supply scarcity to continue through the first half of 2028, thanks to strong demand for artificial intelligence (AI) applications. Market researcher TrendForce Corp (集邦科技) forecast prices of standard DRAM chips would rise between 58 percent and 63
RSS