New York Stock Exchange Files Patents To Launch Its Own NFT Marketplace

A new entity might just be entering the realm of NFTs, and that is none other than the New York Stock Exchange. 

Last week, the NYSE filed an application with the US Patent and Trademark Office, highlighting plans for an online marketplace for trading digital assets. These could be anything from non-fungible tokens to a cryptocurrency, or even just digital artwork. 

Other things like the ability to “develop and design virtual retail stores” are also mentioned in the patent, as well as “virtual showrooms for others provision of an online marketplace for buyers and sellers of downloadable digital goods authenticated by non-fungible tokens (NFTs).”

This would pit it directly against other leading marketplaces currently in existence, such as OpenSea and Rarible. 

Although creating a marketplace is largely different to just trading, this isn’t the NYSE’s first meanderings in the NFT world. In April, its first NFTs were minted in commemoration of First Trades of some notable companies, such as Spotify and Roblox. 

As with many other patent filings, an application doesn’t always mean that the product will indeed be conceptualized to the final stage. However, it does indicate that First Trade wasn’t a one-off collection, and the Exchange has longer-term plans. 

“We are starting with these six, but we know there will be many more NYSE NFTs to come as we continue to welcome new, innovative companies to our community,” the NYSE’s website states.

[via CoinDesk and The Block, image ID 10811031 © Tangducminh | Dreamstime.com]