The CoinGeek Pulse Episode 73: Walmart prepares to enter metaverse, Pakistan chief calls for national blockchain strategy, turn art into NFTs with FabriikX

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Retail giant Walmart is quietly making a foray into the metaverse, following the footsteps of other multinational companies that have now ventured into virtual goods and non-fungible tokens (NFTs). 

Walmart filed new trademarks on December 30, 2021, showing its intention to possibly create and sell their own virtual goods, and to offer virtual currencies and NFTs. According to the U.S. Patent and Trademark Office (USPTO), the big-box retailer filed seven separate applications. Walmart, however, has declined to comment to the media on these trademark filings.

In a statement, a spokesperson for the company explained that Walmart is continuously exploring how emerging technologies may shape future shopping experiences, saying: “We are testing new ideas all the time.”

Walmart’s move came after Facebook announced it’s changing its name to Meta in 2021. This was followed by other big names in the industry filing several trademark applications and venturing into virtual and NFT-related activities. 

Nike has recently worked with Roblox to create Nikeland, a Nike-ecosystem in a Roblox game where users can customize their avatars with their own Nike designs and where they can play obstacles within their Yard. Adidas ‘Into the Metaverse’ launched in 2021 in collaboration with gmoney, PUNKS Comic and the Bored Ape Yacht Club. The company sold NFTs worth over $22 million despite the alleged technical glitches during an auction in December last year. They also announced working on NFTs with luxury brand Prada, whose products will be introduced on January 24.

As more commercial brands and enterprises are getting into the Metaverse to leverage blockchain technologies for marketing and revenue-generation, governments are starting to pay attention to the blockchain use cases.

The President of the Islamic Republic of Pakistan Dr. Arfi Alvi is well aware of these use cases and has spoken positively about the benefits of blockchain technology. After meeting the BSV blockchain delegation in Islamabad this week, the Pakistani president has called for a national blockchain strategy.

Dr. Alvi has met the BSV Blockchain delegation this week at the inaugural Pakistan Blockchain Summit.

Led by BSV blockchain’s association Founding President Jimmy Nguyen, the BSV blockchain experts headed to the residence of His Excellency for a sit-down meeting on the future of blockchain in the country. 

Dr. Alvi also engaged with Nguyen on the concept of identity and identity management. The president said that Pakistan—like most countries—is challenged by data silos across government departments and beyond. Among the first things His Excellency told the blockchain delegation was a straightforward admission, ‘I am convinced.’ The meeting is the first of many that took place this week in Islamabad and Karachi joined by government ministers and private business leaders. 

In other news, it is now easy and quick to turn art into NFTs. FabriikX has now made it possible for creators and artists to turn their creations and artworks into NFTs. In anticipation of the launch next week and its first NFT Community collection, FabriikX is calling for creators and artists to submit their creations and art. FabriikX will take care of the minting and listing of your NFTs on the marketplace. Creators will also get the chance to have their works discovered by other NFT enthusiasts and community members. 

This week, check out CoinGeek Backstage interview with Cointelegraph’s reporter Rachel Wolfson on the sidelines of the CoinGeek Conference in New York, where she shares her insights on covering blockchain enterprises.

Also, BSV Stories’ latest episode filmed in Antigua, Building a Digital Paradise, will premiere next week. Watch the full videos of the CoinGeek Backstage interview with Wolfson and BSV Stories, and more on the CoinGeek YouTube Channel.