NYSE vs. OpenSea, Rarible and SuperRare? | Trademark Filing For Crypto Stocks and NFT Trading Market Explained

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NYSE Challenging Rarible, SuperRare & OpenSea? | Trademark Filing For Crypto Stocks & NFT Trading Market

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.

Via this site

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