The NFT craze has taken over the world. This week, the world’s largest stock exchange expressed its desire to become an official participant in the tokenized assets sector.
Another company registers NFT
The New York Stock Exchange (NYSE) has filed for the trademark “NYSE” for an online marketplace for various types of digital assets, including non-fungible tokens (NFTs) and cryptocurrencies.
As outlined in a US Patent and Trademark Office (USPTO) document, the centuries-old institution is also planning to launch its own NYSE-branded cryptocurrency.
If the application is approved, the stock exchange, with a market capitalization of more than $27.7 trillion, will become a direct competitor to the largest NFT trading platforms such as OpenSea and Rarible. The NYSE has not yet specified when it will be able to start implementing its plans.
The move could mark an expansion of the NYSE’s corporate policy for innovation. The stock exchange tested the NFT space last year with the release of “First Trade” NFTs, commemorating the first public trades in shares of six trending technology companies.
“Innovation is what we do at the NYSE. We were the first to be directly listed and at the forefront of the emergence of SPAC. We now want to help launch this new wave of NFT innovation,” the New York Stock Exchange tweeted.
Over the past year, a huge number of businesses, sports clubs and celebrities have entered the NFT space, as well as several NFT marketplaces.
Currently, there are about 180 NFT trading platforms operating in the crypto space. OpenSea is still the clear leader with the massive $13.3 billion valuation it reached last month.