Walmart plans to enter Metaverse, sell NFTs

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San Francisco, Jan 17 | Amid the buzz around Metaverse, retail giant Walmart has revealed plans to enter the field of highly immersive virtual reality/augmented reality (VR/AR) and Blockchain-based world.

Walmart’s trademark filings indicate that the company is looking to establish its own NFTs (non-fungible tokens) and cryptocurrency, reports CNBC.

One of the trademark applications details possible “physical fitness training services” and “classes in the field of health and nutrition” that could take place in VR/AR environments.

In a separate filing, the company said “it would offer users a virtual currency, as well as non-fungible tokens, or NFTs,” the report said on Sunday.

“Walmart is continuously exploring how emerging technologies may shape future shopping experiences,” a Walmart spokesperson was quoted as saying in media reports.

“We are testing new ideas all the time. Some ideas become products or services that make it to customers. And some we test, iterate, and learn from,” according to the company.

Other retailers also have plans to enter metaverse, like Nike that aims to introduce NFTs and virtual sneakers while Adidas selling out of its aInto the Metaverse’ NFT collection.

Gap has also started selling NFTs of its iconic logo sweatshirts.

The market for transactions in the Metaverse is expected to reach $6.1 billion this year, as tech giants like Meta (formerly Facebook) aim big on the VR/AR-based technology to bring deeper immersive experiences to billions in the future.

The global Metaverse market is forecast to hit nearly $42 billion globally by 2026, according to research firm Strategy Analytics.

Social media giant Facebook has said it will spend more than $10 billion to build out its vision for Metaverse.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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