As part of its offering of digital currency and NFT trading services in the metaverse, the New York Stock Exchange (NYSE) filed a trademark application with the United States Patent and Trademark Office on February 10. Essentially, this would mean a unique crossover between stock trading and cryptocurrency trading. In its latest foray, the largest global stock exchange, NYSE, aims to establish an online trading market for cryptocurrencies and NFTs just like stocks.
According to a Bloomberg report, the stock exchange could compete with other exchanges and established NFT marketplaces like Rarible, SuperRare and OpenSea.
The application filed by NYSE mentioned the following points :
- The filing shows that NYSE plans for an NYSE-branded cryptocurrency and a marketplace to buy, sell and trade NFTs.
- NYSE has registered itself for utilization of blockchain technologies and associated crypto goods and services.
- The NYSE would leverage downloadable virtual reality, augmented reality, and mixed reality software, downloadable software for enabling users to experience virtual reality and augmented reality visualization, manipulation, and immersion. This shows that the exchange intends to enter into the metaverse.
- NYSE plans to provide downloadable virtual goods besides authentication of NFT data using blockchain technology.
While NYSE doesn’t plan to launch cryptocurrency or NFT trading immediately, they are keeping an eye on new products and their impact on trademarks. In April 2021, NYSE issued six commemorative NFTs, marking its first trade listing. Spotify, Snowflake, Unity, Doordash, Roblox, and Coup were all part of the NFT collection. They were released in honor of their major public listings.
Metaverse and NFTs have grabbed the attention and interest of many major corporate services including JPMorgan which became the first bank to enter in the metaverse Decentraland.
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Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
