Walmart planning to create crypto, NFTS
Walmart Inc. is preparing to create its own cryptocurrency and collection of nonfungible tokens, filings with the U.S. Patent and Trademark Office show, setting the stage for meeting its customers in the emerging metaverse.
The retailer sought several new trademarks in December 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. Walmart in August advertised a position to develop “the digital currency strategy and product roadmap” while identifying “crypto-related investment and partnerships,” according to a job posting on the company’s website.
The applications were among a flurry 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’s also seeking trademarks to apply the Walmart name and “fireworks” logo to heath-care 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 emailed 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 wouldn’t be registered until they are in actual use.
Walmart’s cryptocurrency plans were the subject of a high
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An airport trade group said the introduction of the 5G services should be delayed to reduce the effects, even as it called the FAA’S action “a step in the right direction.”
“Airports will continue to prepare for potential diversions, delays and cancellations,” Kevin Burke, president of Airports Council International-north America, said in an emailed statement.
The decision will allow landings during low visibility at as many as 48 of the 88 U.S. airports with equipment allowing such arrivals, the FAA said. Use of highly sophisticated instrument landing systems are considered high-risk operations and have been among the most affected by the agency’s 5G restrictions.
Under a compromise reached earlier this month, AT&T and Verizon agreed to limit placement of cell towers near 50 of those 88 U.S. airports to lessen the effects for six months.
The FAA signaled in its statement that while it’s exempting some aircraft from the strictest limitations, it may also add new restrictions. The agency issued a directive Friday adding restrictions on 787s landing in the presence of 5G signals, and other such actions are possible.
“The FAA also continues to work with manufacturers to understand how radar altimeter data is used in other flight control systems,” the agency said in the statement.
The wireless companies paid more than $80 billion for access to the frequency band, allowing them to offer far faster 5G mobile phone services. But aviation groups and the FAA have been concerned that it could compromise aircraft safety.
The agency last week issued more than 1,400 flight restrictions at airports and geographic areas across the country. The action announced Sunday exempts or partially exempts planes from those orders.