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The New York Stock Exchange enters the NFT market

New York Stock Exchange enters the NFT market

On February 10th the New York Stock Exchange has filed to register the term “NYSE” for a non-fungible tokens (NFTs) marketplace, bringing the exchange one step closer to developing an online trading platform for NFTs and cryptocurrencies. The NYSE’s trademark registration also shows future ambitions to build an NFT marketplace, according to trademark attorney Josh Gerben.

New York Stock Exchange enters the NFT market

As the metaverse grows more popular, this is just the latest foray by a large corporation into the space.

According to the company’s official NYSE NFT website, the new NFT collection will focus on one-of-a-kind scenarios. The first set of “Debut Trade” collectibles will celebrate the first NYSE trading of Spotify, DoorDash, Roblox, Snowflake, Unity, and Coupang. To begin, the NYSE will focus on only six companies, with more joining later.

a spokesperson for the NYSE stated that it has no plans to introduce cryptocurrency or NFT trading in the near future, but that it ” regularly considers new products and their impact on our trademarks and protects our intellectual property rights accordingly”

The NYSE issued its first set of NFTs in April of last year, recognising the initial transactions of six “notable” listings.

The exchange would also offer “an online platform for buyers, dealers, and traders of virtual and digital goods, artwork,” according to an application with the United States Patent and Trademark Office dated Feb. 10.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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