Walmart (New York Stock Exchange: WMT) is a classic store where cash and credit are king. Not necessarily, but times are changing and an investment in Walmart could actually benefit from the rise of cryptocurrencies and the metaverse.
We all know Walmart is a large, well-capitalized retail chain. There’s a popular notion that Walmart stock may have been invested in by parents or grandparents, but it’s mostly a legacy business that probably won’t change much in the years to come.
However, you don’t have to fall victim to assumptions and misunderstandings. Just because Walmart is huge doesn’t mean it isn’t agile in adapting to new technology. Believe it or not, the company has already stepped into the future-oriented world of non-fungible tokens (NFTs), and one of his executives at Walmart has apparently announced the latest partnership with digital assets. alluded to.
Walmart could soon have a Metaverse moment
Indeed, the Metaverse is largely the domain of young, open-minded artists, collectors, and investors. Still, digital artifacts known as NFTs can capture the attention and imagination of nearly everyone. Hopefully, in the near future, Walmart will show its willingness to dive into the deep end and offer a metaverse embedded product.
It’s probably just a waiting game at this point. Almost a year ago, before inflation got out of hand, Walmart reportedly filed several trademarks that indicated its intention to manufacture and sell virtual goods. Not only that, Walmart also appears to have said it will offer cryptocurrencies and his NFTs.
There weren’t many details in the report, but speculation soon began. For example, trademark attorney Josh Garben concludes: It’s already here.
Maybe not. In the last few months, there has been no significant update on Walmart’s forays into his NFT trademark or potentially related products. It’s a real shame because Walmart could benefit from fresh and new product types from a digital angle. There is no doubt that the company does not want to be late to the profit party.
Indeed, Walmart affirms that it is “always testing new ideas” and “continuously exploring how emerging technologies will shape the shopping experience of the future.” This seems to suggest that the retailer can offer his NFT-enhanced products to shoppers at any time. Hopefully, Walmart will lead the way in introducing the public to the Metaverse, rather than lagging behind, and vice versa.
Walmart executives make bullish statements on cryptocurrencies
There was no significant update on Walmart’s potential venture into NFTs, but at least one executive made a statement about the retailer’s involvement in cryptocurrencies. What Suresh Kumar recently said about cryptocurrencies may surprise and delight some digital asset enthusiasts.
Speaking at the conference, Kumar unapologetically declared that going forward, cryptocurrency trading would be the “middle part” of Walmart’s digital strategy. Now, this is a bold statement by an executive at a company of this size.
But it gets even better. “Cryptocurrencies will become an important part of how customers transact,” Kumar added, possibly referring to Walmart. We want to be,” and made it possible for customers to extract value.
A statement of this kind from a Walmart executive would have been unimaginable a decade ago, or even five years ago. Still, here we are and it sounds like Walmart’s key representatives are ready to put Bitcoin in (BTC-US Dollar) ATMs at all Walmart stores.
Okay, maybe I’m going too far. Still, Kumar said, “a lot of confusion will start to arise around different payment methods and different payment options.” Does he suggest that Bitcoin and other cryptocurrencies could soon be accepted as payment in Walmart stores? It should be a win-win for holders of
What is the target price for WMT stocks?
Turning to Wall Street, WMT has a strong buy consensus rating based on 23 buys and 5 holds allocated over the past three months. Walmart’s average price target is $152.22, suggesting a 9.19% upside potential.
Bottom Line: Should You Consider Walmart Stock?
Walmart executives have not made any definitive statements about the company offering NFTs to customers. Kumar also didn’t set a specific timeline for Walmart to begin accepting certain cryptocurrencies as payment for its products. So feel free to consider long positions in Walmart stock as an indirect bet on building the Cryptoverse, or even the Metaverse.