It seems the household name has plans to see how it fits in the new and upcoming metaverse. Walmart filed new trademarks in December that are ambiguous but clue in that they are definitely thinking about the future.
Filings show that they intend to create their own cryptocurrency and NFT collection.
Walmart didn’t comment to CNBC what their true intentions were, but claimed to always be trying out new ideas and learning from the ones that under perform in order to better their products. Now it seems product ideas could be either physical or virtual.
This all comes after a slew of brands have entered the chat, so to speak, on cementing a place in the metaverse. Nike, Adidas, and Gap have already offered NFTs, while others such as Urban Outfitters and Abercrombie and Fitch have run to file new trademarks.
2007 but make it *meta.*
The gaming space has slowly evolved over the last decade or so as video game companies try to incorporate little surcharges throughout playtime. Or as one gamer put it, “I just hate that they keep finding ways to nickel-and-dime us in whatever way they can.” (Matt Kee.)
The backlash over incorporating NFTs into games has scourged companies into rethinking their strategy on how to merge the two – should those plans continue to go forward.
Companies like Sega, Zynga, and Ubisoft are all trying to initiate the crypto space into their established gaming worlds. However, things haven’t gone over as smoothly as they’d hoped. Gamers, if nothing else, are a fiercely loyal and community driven group. But if plans start to roll out they think they are being duped by, they won’t refrain from speaking out.
On the other hand, companies who have come out as strongly against the inclusion of the cryptoverse are Xbox, Valve, and Epic Games. Tim Sweeney, chief exec of Epic Games said in a tweet, “We aren’t touching NFTs as the whole field is currently tangled up with an intractable mix of scams, interesting decentralized tech foundations, and scams.”
Players have become so disillusioned with the current state of gaming as it results to crypto that many have even threatened Discord, the popular chat platform, of subscription cancellations in light of the companies recent crypto initiative.
In a move that is being hailed as a game changer for the entertainment industry, Warner Bros. Home Entertainment has announced the launch of the WB Movieverse with The Lord of the Rings: The Fellowship of the Ring (Extended Version) Web3 Movie Experience NFT. This groundbreaking new release will allow fans to engage with the film in ways never before possible!
Reddit has onboarded millions of new users to NFTs during a bear market. Read on to learn more.