Walmart files for new crypto, blockchain brands via Sam’s Club
Sam’s Club, an American chain of membership-only retail warehouse clubs owned and operated by Walmart Inc., are now jumping on the digital and blockchain bandwagon by applying for crypto and NFT trademarks.
Sam’s Club is now treading in the crypto waters as the retailer recently offered healthcare services that cater to the augmented reality and virtual space. The popular retailer filed a couple trademarks which will allow it to manage NFTs, offer digital goods and also offer crypto-based software.
Walmart Subsidiary Sam’s Club Connects to Blockchain
Sam’s Club, founded by Sam Walton, has millions of members from all over the world. It was established in 1983 and was created to help entrepreneurs get the products they need in a fast and convenient way.
In early 2018, Walmart has already shown its interest in jumping into the blockchain waters, especially with the launch of Bulkcoin, which is exclusive to members of the club.
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In 2022, Sam’s Club indicated its interest in making a foray into the metaverse with its first round of trademark applications in line with NFTs and cryptocurrencies. More so, the retail chain also decided to close some stores as it planned to move into the e-commerce space, aiming to compete with retail giant Amazon.
Walmart has filed several trademarks with the following entries: 97775152 and 97775159. These are all preparations for the club to begin offering virtual reality or blockchain-based merchandise.
Digital goods include home decorations, personal care products, toys and sports equipment. More so, the membership-based warehouse group will also enter the augmented reality, education, healthcare, NFTs and cryptocurrency business. It also plans to launch a blockchain-based wallet as well as other software.
Amazon, other big companies are penetrating crypto space
In addition, Walmart is said to be hiring to fill several cryptography and cybersecurity roles for a blockchain initiative. The open positions include Cybersecurity and Cryptography Engineer, Technical Expert, Advanced Systems Engineer and Cybersecurity.
Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com
Just last month, Amazon announced plans to roll out its own NFT program. The online shopping giant will introduce the program by April this year. Apart from that, Amazon is also working on its NFT and blockchain based gaming applications.
Other household brands seem to be getting ready to jump into the crypto space. Some companies have already joined such as WMG, Nike and Fidelity. Nike has seen huge success for its NFT store that launched last year, as it was able to generate $185 million in sales after its launch.
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