The New York Stock Exchange moves to the NFT Space

The New York Stock Exchange (NYSE) has made headlines with an interesting trademark filing that shows the exchange’s intent to create its own NFT marketplace.

The New York Stock Exchange moves to the NFT Space

A patent application was filed by the NYSE with the United States Patent and Trademark Office (USPTO) last week, showing that the exchange has made its first Metaverse move.

According to USPTO filings, the New York Stock Exchange registers “NYSE” for use of a range of goods and services besides blockchain and cryptocurrencies, “including in areas such as virtual reality and software, augmented reality, immutable NFT token and trademark patent research for online marketplace “.

Prominent attorney Michael Kondoudis also said that the NYSE filed a filing on Feb. 10 and that the exchange is close to entering the Metaverse segment. He wrote:

The petition, filed on Feb. 10, states that the NYSE plans to protect the NYSE for NFTs, cryptocurrencies, digital collectibles, and a marketplace to buy, sell, and trade.

The move of the New York Stock Exchange to the NFT space

Following last year’s NYSE 6th Anniversary NFT prints, this is the latest twist in the unexpected trajectory of the stock market and NFT transition.

The New York Stock Exchange is the largest stock exchange in the world by market capitalization, with average trading volume often estimated at hundreds of billions of dollars per day.

In contrast to last April’s NFT release, this latest NYSE initiative signals a much broader and broader investment in the blockchain sector.

While the details are still unclear, it looks like the exchange will create a full-fledged NFT marketplace. It comes at a time when competition from market leader OpenSea is intensifying. Coinbase appears to be just weeks away from the NFT market, and the growth market LookRare has been grabbing headlines for the past few weeks (although this week has been a rough week in the headlines) — and those are just two of the many names.

The trademark application also includes APIs and “cryptocurrency trading services.” This move is widely expected to be the first signal that the NYSE may support broader crypto trading.

With minimal US regulation to date, the area could easily be described as a “grey area” for the best bartering.

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