New York Stock Exchange to Join NFT Marketplace Competition

• The New York Stock Exchange (NYSE) has filed an application with the U.S. Patent and Trademark Office (USPTO) to provide marketplace services to NFTs, cryptocurrencies, digital media, and artwork

• If NYSE keeps up to its plans, it will be competing with NFT marketplaces such as OpenSea and Rarible

• This comes after the exchange minted its first set of NFTs in April last year, with homages to 6 hot tech stocks

A trademark filing has revealed that a leading stock exchange could be getting into the non-fungible token business. The New York Stock Exchange, owned by the Intercontinental Exchange Inc has filed a patent to provide a marketplace for various digital goods such as NFTs and Metaverse.

The filing by NYSE follows a similar step that was taken by several public companies that have filed to protect their brands or explore getting into the NFT and metaverse space.
McDonald’s and Panera are some of the companies that have filed trademarks for their brands regarding NFTs and virtual restaurants in the metaverse. Walmart Inc also filed several trademarks that will allow the company to sell virtual goods in the metaverse.

In April, the NYSE displayed interest in the NFT space by minting its first set of NFTs in recognition of 6 hot tech stocks that debuted on the world’s largest bourse. Its latest trademark filing has revealed that the NYSE may have more serious plans for the NFTs.
At the moment, OpenSea remains the world’s largest NFT marketplace, with a monthly trade volume of over $3.5 billion.

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