Walmart plans to enter the Metaverse and sell NFT .. Know the details

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Amid uproar over the Metaverse, retail giant Walmart has revealed plans to enter the virtual/augmented reality (VR/AR) realm and the Blockchain-based world, with Walmart trademark filings indicating that the company is looking to create its own NFTs (non-binding tokens). exchangeable) and cryptocurrencies, CNBC reports.

According to the report, one of the brands applications details possible “fitness training services” and “health and nutrition classes” that can be conducted in virtual / augmented reality environments, and in a separate file, the company said “it will offer users virtual currency, in addition to to non-fungible tokens, or NFTs,” the report said recently.

A Walmart spokesperson was quoted as saying in media reports: “Walmart is constantly exploring how emerging technologies can shape future shopping experiences. We test new ideas all the time, and some ideas become products or services that make them available to customers. Some of them we test, iterate, and we learn from. , according to the company.

Other retailers also have plans to enter the metaverse, such as Nike that aims to offer virtual NFTs and sneakers while Adidas sells its aInto the Metaverse’ NFT collection, and Gap has also begun selling its iconic logo NFT T-shirts.

The transaction market in the Metaverse is expected to reach $6.1 billion this year, with tech giants like Meta (formerly Facebook) aiming heavily at VR/AR-based technology to deliver deeper immersive experiences for billions in the future.

The global Metaverse market is expected to reach nearly $42 billion globally by 2026, according to research firm Strategy Analytics, and the social media giant Facebook has said it will spend more than $10 billion to build its vision for the Metaverse.



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