THELOGICALINDIAN - The New York Stock Exchange has filed a brand appliance for an NFT marketplace
The New York Stock Exchange may be absorbed in operating an NFT marketplace.
NYSE Reveals Interest in NFTs
The New York Stock Exchange has signaled that it may adventure into the apple of cryptocurrencies and non-fungible tokens.
A trademark application anachronous Feb. 10 filed by the NYSE with the U.S. Patent and Trademark Office reveals the banal barter is attractive to accommodate an “online exchange for buyers, sellers, and traders of downloadable agenda appurtenances accurate by non-fungible tokens (NFTs).” The certificate additionally references abeyant business offerings about “digital collectibles,” “cryptocurrencies,” and “digital art.”
Over the accomplished year, NFTs accept exploded in acceptance and begin boilerplate adoption. More than $25 billion account of NFTs were traded during 2021, a ample allotment of which came from collectible avatar projects like Bored Ape Yacht Club and agenda art collections such as Art Blocks.
Now, it appears that the NYSE is registering the adapted trademarks to get in on the rapidly-growing NFT space. If and back it goes live, the NYSE-branded NFT exchange will attempt with the brand of ascendant players in the niche, including OpenSea, LooksRare, Rarible, and others.
Furthermore, this is not the aboriginal time the NYSE has apparent absorption in NFTs. In April of aftermost year, the exchange minted six NFTs on Crypto.com’s NFT trading belvedere commemorating notable listings of tech stocks including Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang.
In a account aggregate with Bloomberg, the NYSE said that admitting its brand application, the barter has no near-term affairs to action barter a trading account focused on NFTs. It added that it “regularly considers new articles and their appulse on our trademarks and protects our bookish acreage rights accordingly.”
Notably, the NYSE’s ancestor aggregation Intercontinental Barter already runs a cryptocurrency barter called Bakkt. The exchange has faced several authoritative hurdles, consistent in its banal shedding 90% of its amount back debuting in October 2021.
The NYSE is currently the world’s better banal barter in agreement of the bazaar assets of all its listed companies.
Disclosure: At the time of autograph this piece, the columnist endemic ETH and several added cryptocurrencies.
