Wednesday, July 24, 2024

NYSE files a trademark application for trading NFTs

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NYSE files a trademark application for trading NFTs

The New York Stock Exchange, or NYSE, has filed a trademark application with the United States Patent and Trademark Office, or USPTO, on Feb 10 to register the name “NYSE” for several blockchains and crypto related products and services. The goods specified include virtual reality and augmented reality software, nonfungible tokens, or NFTs, and online marketplaces.

According to the application, the financial exchange would be able to provide “downloadable virtual goods” for NFTs and digital collectibles, as well as “authentication of data in the field on NFTs using blockchain technology.” This is not the NYSE’s first foray into NFTs or the Metaverse. In April 2021, six NYSE NFTs were minted to commemorate the first trades for Spotify, Snowflake, Unity, DoorDash, Roblox.

On the company’s official website, NYSE had stated that there are “many more NYSE NFTs to come as we continue to welcome new, innovative companies to our community.” This application indicates plans to launch an NFT marketplace for buyers, sellers and traders of “digital assets, artwork, collectibles, and nonfungible tokens.”

There is also a section that details “cryptocurrency trading services” that would facilitate the “financial exchange of virtual currency.” Additionally, both downloadable and non-downloadable virtual reality and augmented, as well as application programming interface, or API, is included in the application too.

Related: Is Walmart gearing up to enter the metaverse?

The New York Stock Exchange follows several other public companies that have filed trademark application not only to protect their brands but to signify their exploration into blockchain and NFTs. Recently, McDonalds submitted a trademark application to open restaurants in the metaverse.

Disney’s patent for interactive attractions for theme park visitors has alsbeen approved.