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New York Stock Exchange Wants To Trade NFTs -Breaking

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New York Stock Exchange Will Trade NFTs

The NFT trend has taken over the globe. This week the world’s largest stock exchange expressed a wish to become an official member of tokenized assets sector.

The New York Stock Exchange (NYSE) has filed an “NYSE” trademark application for an online marketplace for various types of digital assets, including non-fungible tokens (NFTs) and cryptocurrencies.

According to the United States Patent and Trademark Office’s (USPTO) document, a hundred-year-old institution has also plans to issue its own cryptocurrency branded as NYSE.

The $27.7 Trillion market cap stock exchange will compete with the NFT largest marketplaces OpenSea, Rarible and OpenSea if granted. NYSE has yet to indicate when it might start implementing its plans.

This move could signal the expansion of corporate NYSE policies to include innovations. The stock exchange has tested the NFT space last year by issuing “First Trade” NFTs dedicated to the remembrance of the first public trades of 6 trendy tech company stocks.

“Innovation is what we do at the NYSE. Direct Listings was our pioneering technology and the birth of SPACs. Now we want to help drive this new wave of NFT innovation”, then tweeted New York Stock Exchange.

In the last year, a large number of celebrities, businesses and sports clubs have entered the NFT market. Numerous NFT markets joined the wagon due to high demand.

Nearly 180 NFT platforms are operating today in the cryptocurrency space. OpenSea, with $13.3 million in valuations last month, is still the leader.

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