Huge names make big waves. And in the brick-and-mortar retail space, Walmart still reigns supreme. At Walmart, you can buy a suit, a suitcase, a set of tires, and tonight’s dinner without walking more than forty feet.
If a massive company like Walmart can shrink the world enough to offer those types of goods in one place, it stands to reason they would make a play for virtual worlds as well.
And that’s exactly what Walmart is fixing to do.
The retail giant has set its sights on the Metaverse.
Ears to the Ground Hear “Trademark Registration” for NFTs
Walmart made massive headlines in January by filing trademarks for NFTs and the unique ability for merchandising through digital means.
This play by Walmart to protect their IP produced a concentrated flurry of internet chatter concerning the retail giant’s large step into an ever-growing field.
It’s Not Walmart’s First Big Move
It turns out Walmart was ahead of its time. In 2017, they hired a design firm to create a simulation of virtual shopping. It’s been dismissed since then because of it being too old to be relevant.
However, it shows the goliath retail leader is unafraid to throw its hat into groundbreaking technology and innovation.
Walmart hasn’t given up on that vision, as evidenced by its filing of those trademarks.
But is the concept of a massive company like Walmart entering this sphere really original news?
Giants Travel in Packs
You may have noticed a trend. Before considering the implications of Walmart filing those trademarks, remember the other companies also taking massive strides in this direction.
McDonalds filed similar trademark applications to sell food virtually through the metaverse. The good news is that Blockster covered this subject when it happened. The bad news is that the ice cream machine is already broken.
Disney also made moves to establish their presence in the metaverse. The entertainment giant’s strategy began with hiring theme park executive Mike White to help manage it.
That alone gives the impression that Disney plans to make its virtual world experience as outstanding as its theme parks and cruises. Hopefully, the metaverse version doesn’t find visitors waiting in line for four hours and leaving the park with no money.
Finally, the biggest one is Facebook. After all, they changed their name to Meta. I mean, do I even need to say anything about that? Except that it’s a little… meta, isn’t it?
By the way, if you haven’t watched Mark Zuckerberg’s commercial yet, it’s worth a look.
Bottom line: The big companies are moving in this direction. It’s undeniable. Just like a toddler who begs to go on the Dumbo Ride one more time.
What Does it all Mean?
We could choose to be cautiously optimistic at the developments by these world-crushers in the metaverse/crypto space and consider it stabilization. Maybe people will finally regard digital currency and metaverse projects with credibility, rather than view them as a scheme to steal our money.
Or we might continue to view this phenomenon as the edge of the next dot-com bubble.
Perhaps the involvement of these massive companies marks the end of crypto’s whitewater stage where excitement and danger abound. The conclusion would give way to a handful of remaining tried-and-true projects with as much excitement as cold fries in your Happy Meal.
Even if you’ve taken advantage of Walmart’s convenient grocery delivery service during the pandemic, your Oculus may have you itching to jump into Walmart’s virtual world.
And perhaps in the metaverse, they’ll have enough cashiers to get you out in a timely manner—even if they are just robots.
We all can dream, right?
Speaking of older companies that are cresting new horizons, did you read about what RadioShack is doing?
And if you think you’re ready to jump onto the development side and start a project of your own, ask yourself these five questions before becoming a blockchain engineer.