NYSE moves closer to NFT trading with trademark application
The Hindu
If the NYSE launches a new marketplace, it would compete with SuperRare, Rarible and NFT marketplace giant OpenSea.
The New York Stock Exchange has filed an application to register the term "NYSE" for a marketplace for non-fungible tokens (NFTs), taking a step closer to setting up an online trading place for cryptocurrencies and NFTs.
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The hype around cryptocurrencies last year spilled over to NFTs, a form of speculative investment that has attracted fans including former U.S. first lady Melania Trump and Jamaican sprint great Usain Bolt.
Companies involved in this sector have also been backed by heavyweights Microsoft Corp and SoftBank Group Corp .
If the NYSE launches a new marketplace, it would compete with SuperRare, Rarible and NFT marketplace giant OpenSea, which was valued at $13.3 billion after its latest funding round.
Also Read | Irregular sales worth billions fire up wild NFT market
However, a spokesperson for the NYSE said it has no immediate plans to launch cryptocurrency or NFT trading.
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