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New York Stock Exchange files trademark application for NFT marketplace

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New York Stock Exchange (NYSE), the world’s largest exchange, has filed with the US Patent and Trademark Office an application for a trademark to provide a digital marketplace for virtual goods, including NFTs, cryptocurrencies, digital media, and works. of art.

In practice, if the market does launch, the exchange will compete with platforms like OpenSea and Rarible.

NYSE and NFT

But this isn’t the first time the NYSE has dabbled in non-fungible tokens. That’s because in April 2021, the New York stock exchange minted its first set of NFTs.

The initiative was a tribute to the six technology company shares that debuted on the world’s largest stock exchange. They are: Spotify, Roblox, Coupang, Snowflake, Unity and DoorDash.

At the time, the exchange said it was not selling NFTs. Instead, he was just minting them for commemorative purposes. However, even then, the NYSE emphasized that the initiative could be just the beginning:

“We’re starting with these six. But we know there will be many more NYSE NFTs as we continue to welcome new and innovative companies into our community,” he said at the time.

Now, with this trademark filing dated February 10, it’s clear that the exchange has bigger plans for the NFTs market.

Will the New York Stock Exchange Sell NFTs?

However, it should be noted that the request alone does not necessarily mean that the NYSE will enter the NFT market. Instead, it may simply represent your interest in “marking territory” and registering intellectual property in this sector.

Below is an excerpt from the NYSE trademark application obtained by The Block:

“Providing an online marketplace for buyers, sellers and merchants of downloadable digital goods authenticated by non-fungible tokens (NFTs); providing an online marketplace for buyers, sellers and merchants of virtual and digital assets, artwork, collectibles and non-fungible tokens; online marketplace services, specifically providing an online marketplace for buyers, sellers and merchants of digital currency, virtual currency, cryptocurrency, digital tokens, crypto tokens and utility tokens.”

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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