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New York Stock Exchange Trademark Application File for the NFT Market


New York Stock Exchange Trademark Application File for the NFT Market

The NYSE minted its first set of NFTs last April.

The New York Stock Exchange has filed an application for the term “NYSE” for the market for non-fungible tokens (NFTs), one step closer to establishing an online marketplace for money. electronics and NFT.

The hype around crypto last year spilled over to NFT, a form of speculative investment that has attracted fans including former US first lady Melania Trump and Jamaican great sprinter Usain Bolt.

Companies entering the field are also backed by heavyweights Microsoft Corp and SoftBank Group Corp.

If the NYSE launches into the new market, it will compete with SuperRare, Rarible and NFT market giant OpenSea, which is valued at $13.3 billion after its latest funding round.

However, a spokesperson for the NYSE said it has no immediate plans to launch crypto trading or NFTs.

“(NYSE) regularly reviews new products and their impact on our brands and protects our intellectual property rights accordingly,” the spokesperson added.

The NFT has confused many as to why spend so much money on items that don’t actually exist. Some also believe that the industry is saturated with scammers and often rewards low-quality viral work.

The NYSE minted its first set of NFTs last April, celebrating the first deals of six “notable” listings.

The exchange’s filing suggests it could also enter the metaverse, as it seeks to offer “virtual reality, augmented reality, and mixed reality software.”

Metaverse refers to a shared, immersive digital environment that can be accessed through a virtual or augmented reality headset or computer monitor.

Besides NFTs, the exchange will also provide “an online marketplace for buyers, sellers, and traders of virtual and digital assets and works of art,” it said in a filing. to the United States Patent and Trademark Office on February 10.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)



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