The New York Stock Exchange, which is the world’s biggest exchange for equities and other exchange-traded instruments, on February 10 submitted a trademark application to register the term “NYSE” as a marketplace for NFT, metaverse, and crypto-related items. The 230-year-old stock exchange sought trademark licensing to launch such digital items, according to a document submitted with the United States Patent And Trademark office.
The exchange plans to offer an online platform for traders, investors, buyers, and sellers of digital assets, as well as artwork, in addition to NFTs and the metaverse, according to the documents. The NYSE’s decision to establish a new platform for buying and selling NFTs is noteworthy because it demonstrates how popular NFTs are becoming.
The proposed organisation by the exchange also intends to launch the metaverse, which will provide virtual reality, augmented reality, and mixed reality software. Furthermore, the NYSE is seeking authority to develop its cryptocurrency, however, it is unclear whether the proposal would be carried through.
This isn’t the first time the NYSE has tried to digitise items traded on its exchange. The exchange developed various NFTs recognising noteworthy IPOs of six firms that started direct listing on the market in April 2021. It also opened a way to allow investors to invest in Bitcoin indirectly in October 2021.
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