NYSE Files Trademark Application for Crypto and NFT Marketplace

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In Brief
  • NYSE wants to provide a wide scope of crypto services.

  • VR and AR software services were also mentioned.

  • There has been a huge interest in NFTs and Metaverse from major worldwide brands and platforms.

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The New York Stock Exchange has filed a trademark application for its own digital marketplace to offer non-fungible tokens (NFT) and digital art trading.

The filing was made with the U.S. Patent and Trademark Office (USPTO) on Feb 10 to provide a digital goods marketplace for items including NFTs, cryptocurrencies, augmented reality (AR) software, digital media, and artwork.

The description of its planned product states that it intends to offer the,

“Provision of an online marketplace for buyers, sellers, and traders of downloadable digital goods authenticated by non-fungible tokens (NFTs),”

It also includes cryptocurrencies in that description suggesting that there may be a trading desk, exchange, or that it just intends to allow crypto to be used for NFT purchases. That section is described as:

“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),”

The filing is just that at the moment, an application for a trademark, so a fully operational NFT marketplace could still be a long way off.

A move into the NFT space

The move is not the NYSE’s first foray into the world of NFTs. Last year the NYSE minted six NFTs to celebrate the listings of Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang.

It stated that these were the first six, “but we know there will be many more NYSE NFTs to come as we continue to welcome new, innovative companies to our community.”

The filing also had an extended description of software and services including virtual and augmented reality. It also specified “non-downloadable software” to allow users to perform e-commerce and financial transactions, make payments, transfer funds, process payments, as well as the ability to buy, sell, and trade financial instruments.

Cryptocurrency wallets and storage software were also mentioned as were digital token issuance and digital asset exchange services so it seems the NYSE is throwing out a large net with this filing.

Big brands growing interest

The NYSE is the latest big name to express an interest in the rapidly growing NFT and Metaverse ecosystem. Earlier this month, fast-food giant McDonalds filed a number of trademark applications for virtual restaurants in the Metaverse.

Entertainment giant Disney has also posted job listings for NFT experts and has obtained a patent for building a digital amusement park in the Metaverse.

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Martin has been covering the latest developments on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

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