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Walmart filings reveal plans to create cryptocurrency, NFTs

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The Straits Times

Sun, Jan 16, 2022

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DALLAS (BLOOMBERG) - Walmart is preparing to create its own cryptocurrency and collection of non-fungible tokens (NFTs), filings with the United States Patent and Trademark Office show, setting the stage for meeting its customers in the emerging metaverse.

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.

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.

In early December, Walmart chief financial officer Brett Biggs said at an analyst conference that the company was open to allowing shoppers to pay in cryptocurrency if customers demand it, but the company didn't see a need to rush out any capabilities

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