The New York Stock Exchange wants a piece of the NFT craze
Future. The centuries-old New York Stock Exchange is getting in on Web3, filing a patent to start its own crypto and NFT marketplace. But while rivals like OpenSea, Rarible, and FTX already exist, some wonder what the utility for such a marketplace would be… regardless; the involvement of a well-known institution like the NYSE could mainstream crypto for good.
Yes, even the New York Stock Exchange is getting in on NFTs.
- According to a filing with the U.S. Patent and Trademark Office, the NYSE plans on launching a marketplace for cryptocurrency, digital token, and NFT trading.
- Additionally, the filing hints that the NYSE may also utilize a VR/AR component and offer digital currency wallet services.
The news comes less than a year after the NYSE experimented with minting its first NFTs — 10-second videos of a virtual bell being rung to celebrate the successful IPOs of Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang.
Coinbase, which was the first major cryptocurrency platform to go public on the NYSE, was valued at a whopping $86 billion when it went public last April. Dozens have done so since then, and the NYSE knows it needs to prepare for a Web3 future.