The NYSE has filed a trademark application for the trading of NFTs.
The world’s largest stock market may be considering expanding its operations into the Metaverse.
On February 10, the New York Stock Exchange, or NYSE, submitted a trademark application with the United States Patent and Trademark Office, or USPTO, to register the name “NYSE” for multiple blockchain and cryptocurrency-related products and services. Virtual reality and augmented reality software, non fungible tokens, or NFTs, and online marketplaces are among the items mentioned.
The financial exchange would be able to supply “downloadable virtual products” for NFTs and digital collectibles, as well as “authentication of data in the field on NFTs utilising blockchain technology,” according to the application. The NYSE’s entry into NFTs or the Metaverse is not its first. Six NYSE NFTs were issued in April 2021 to mark the first trading for Spotify, Snowflake, Unity, DoorDash, and Roblox.
NYSE noted on its official website that there would be “many more NYSE NFTs to come as we continue to welcome new, creative enterprises to our community.” This application reveals ambitions to build an NFT marketplace for “digital assets, artwork, collectibles, and non fungible tokens.”
There is also a part that discusses “cryptocurrency trading services,” which would allow for the “financial exchange of virtual currency.” The application also includes downloadable and non-downloadable virtual reality and augmented reality, as well as an application programming interface, or API.
The New York Stock Exchange is following in the footsteps of numerous other prominent organisations that have filed trademark applications not just to safeguard their names but also to signal their interest in blockchain and NFTs. McDonald’s recently filed a trademark application to build eateries in the metaverse.
Disney’s patent for interactive theme park attractions has also been authorised.
