Sam’s Club, an American chain of membership-only retail warehouse clubs that is owned and operated by Walmart Inc., is now jumping into the digital and blockchain bandwagon by filing for crypto and NFT trademarks.
Sam’s Club is now treading 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 of trademarks that will allow it to manage NFTs, offer digital goods, and also provide crypto-based software.
Walmart Subsidiary Sam’s Club Links With 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 fashion.
Early in 2018, Walmart has already shown its interest to jump into the blockchain waters, specifically with the launch of Bulkcoin, which is exclusive to members of the Club.
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 transcend to the e-commerce space, eyeing to compete with retail giant, Amazon.
Walmart has filed several trademarks with the following records: 97775152 and 97775159. These are all in preparation for the Club to start offering virtual reality or blockchain-based goods.
Digital goods comprise home decorations, personal care products, toys, and sporting equipment. More so, the membership-based warehouse group will also be entering 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 Major Companies Penetrate Crypto Space
Additionally, Walmart is said to be hiring to fill in 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 of rolling out its own NFT program. The e-commerce behemoth is set to introduce the program by April of 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 hop into the crypto space. Some companies have already joined such as WMG, Nike, and Fidelity. Nike has seen massive success for its NFT store which was launched last year as it was able to generate $185 million in sales following its launch.
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