The New York Stock Exchange (NYSE) has filed an application to register “NYSE” as a trademark to offer services in the metaverse and create an NFT marketplace.
The world’s largest stock exchange filed a trademark on February 10, suggesting that it is about to take a leap into the virtual world.
The patent stated the offering of “Downloadable virtual reality, augmented reality, and mixed reality software; downloadable software for enabling users to experience virtual reality and augmented reality visualization, manipulation, and immersion.” These terms are closely related to the metaverse, which involves the virtual representation of the real world in a digital space.
It also included plans to provide “an online marketplace for buyers, sellers, and traders of downloadable digital goods authenticated by non-fungible tokens (NFTs).” If this plan pulls through, NYSE will be competing with NFT marketplaces like Opensea and Rarible.
In the last 24 hours, bitcoin has been down by 3.25%, with a current price of $42,072.43 as of the time of writing this. Within 24 hours, bitcoin dropped to $42,055.86 low and $44,379.39 high. The trading volume of bitcoin in the last 24 hours is $873.79M. The current market capitalization of bitcoin is $796.10B. Currently, $18.96M bitcoins are in circulation.
Stats and Image from Coin Desk
The filing also hints NYSE might create a crypto exchange platform for buying and selling crypto.
“Financial exchange of virtual currency in the field of digital currency, virtual currency, cryptocurrency, digital tokens, crypto tokens, utility tokens, and non-fungible tokens (NFTs),” it added.
More traditional firms are jumping on the NFT bandwagon, and financial institutions don’t want to be left out. For example, America’s largest bank JPMorgan recently launched a virtual lounge in the blockchain-based virtual world Decentraland.