New York Stock Exchange files a trademark application for an NFT marketplace

The New York Stock Exchange has filed for a trademark application focusing on virtual products and non-fungible tokens (NFTs). The move comes as the NFT market continues to boom and attract the attention of leading brands and investors.

An NFT marketplace at the NYSE

According to a recent trademark application filing on February 10, the NYSE wants to create an online marketplace for NFTs and other virtual products. The application also talks about artwork and collectibles. It also mentions,

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Providing an online marketplace for buyers, sellers and traders of digital currency, virtual currency, cryptocurrency digital tokens, crypto tokens and utility tokens.

It also adds the “provision of an online marketplace for buyers and sellers of downloadable digital goods authenticated by non-fungible tokens (NFTs); provision of an online marketplace for buyers and sellers of downloadable digital art images authenticated by non-fungible tokens (NFTs).”

NYSE already has a relationship with NFTs

This is not the first time the NYSE will be venturing into the NFT market. In April 2021, the NYSE minted its first set of NFTs. The NFTs were used to commemorate some of the most distinct listings, including Spotify, Coupang and Roblox. The exchange stated that it was not selling these NFTs but only minting them to preserve the history of these stocks.

While this trademark application has ignited another buzz about the huge potential of the NFT sector, it does not necessarily mean that the NYSE could unveil an NFT marketplace soon. The application could only show that the NYSE wants intellectual property in some areas that are popular in the current market.         

However, as aforementioned, the NYSE is already in with NFTs. The company has previously hinted that it would like a long-term relationship with NFTs, which signals more to the recent trademark application.      

Last year, as the exchange minted its first six NFTs, it stated that “we are starting with these six, but we know there will be many more NYSE NFTs to come as we continue to welcome new, innovative companies to our community.”