Walmart is quietly preparing to enter the metaverse

A shopper carries a bag outside of a Walmart store.

Walmart is planning to create a collection of NFTs and create its own currency.

The big-box retailer filed several new trademarks last month that indicate its intent to make and sell virtual goods, including electronics, home decorations, toys, sporting goods and personal care products. The company said in a filing that it would offer users virtual currency.

Walmart applied for a patent and trademark on December 30.

Seven applications have been submitted.

A Walmart spokesman didn't respond to CNBC's request for comment.

Josh Gerben, a trademark attorney, said that they are intense. There is a lot of planning going on behind the scenes about how they are going to address the virtual world and how they are going to address the metaverse.

Businesses have been rushing to figure out how they will fit into a virtual world since Facebook changed its name to Meta.

Nike filed a number of trademark applications in November that showed its plans to sell virtual branded sneakers and apparel. It said it was teaming up with Roblox to create an online world called Nikeland. The virtual sneaker company was bought in December.

Gerben said, "All of a sudden, everyone is like, 'This is becoming super real and we need to make sure our intellectual property is protected in the space.'"

Gap is selling NFTs of its logo sweatshirts. The NFTs will be priced in tiers ranging from $8.30 to $415 and come with a physical hoodie.

Both Under Armour and Adidas sold out of their NFTs last month. They are fetching high prices on the NFT marketplace.

Gerben said that apparel retailers have filed trademarks recently detailing their intentions to open a virtual store.

Retailers and brands might want to make such ventures because of the reasons outlined in the report. Launching NFTs allows businesses to tokenize physical products and services to help reduce online transaction costs. For luxury brands like Gucci and Louis Vuitton, NFTs can be used as a form of authenticity.

The reporting was contributed to by CNBC'sMelissa Repko.