(Reuters) – New York Stock Exchange filed a request to register “NYSE” as a market for non-fungible tokens. This is a significant step towards the establishment of an online trading platform for cryptocurrencies.

Last year, the hype surrounding cryptocurrency exploded to include NFTs. This form of speculative investing has drawn fans such as Melania Trump (ex-first lady) and Usain Bolt (jazz sprinter).

This sector has also seen heavyweights backing companies involved. Microsoft Corp SoftBank Group Corp.

The NYSE could launch a marketplace to compete with SuperRare and Rarible.

Many are baffled by NFTs and wonder why so many people spend money on things that don’t actually exist. Many believe that the market is saturated with scammers, and rewards low-quality viral art.

In April 2013, the NYSE issued its first NFTs to commemorate six first tradings on “notable” listings.

Its filing suggests that the exchange could also be entered into the metaverse. The exchange seeks to offer “virtual realities, augmented realities, and mixed reality software”.

Metaverse can refer to a digital shared environment which is accessible via computer screens or virtual reality headsets.

The exchange will not only offer NFTs but also “an online marketplace to buyers, sellers, and traders of digital and virtual assets, artwork,” it stated in a February 10 filing to the U.S. Patent and Trademark Office.