NYSE files Trademark Application
Recently the New York Stock Exchange has entered an application to the USPTO (U.S Patent and Trademark Office) for an online marketplace where it can provide its own Digital goods such as NFTS, artwork and media, as well as cryptocurrencies. This however is not the first that we’ve seen the NYSE show interest in the space. In April of 2021 NYSE released its first six NFT’s commemorating Spotify, Snowflake, Unity, Door Dash, Roblox and Coupang.
On February 10th 2022, the NYSE filed to register the renowned “NYSE” trademark to join the online marketplace in offering digital goods like Non-Fungible Tokens (NFTS), Cryptocurrency and other digital collectables and assets. The trademark application is only the beginning of what we could see from the NYSE. If the application is approved by the U.S Patent and Trademark Office, it means that we could see NYSE potentially competing with currently popular platforms such as OpenSea, SuperRare and Rarible.
Metaverse can’t be Stopped
Experts are not surprised by this move from the New York Stock Exchange. They are certainly big enough to have the ability to compete with the established platforms like OpenSea, which was recently valued at 13.3 billion. It’s no surprise the NYSE wants to immerse itself into this ever-growing sector. Trademark Lawyer Michael Kondoudis comments,
“This filing is the latest confirmation that the Metaverse is real and businesses need to plan accordingly. Businesses no longer need to wonder if it is going to happen. It is just a matter of when.”
The Metaverse can be described as a fully realized digital world. This digital world goes beyond the physical life which we currently live. At one point the Metaverse seemed like an unrealistic far fetched concept, but now it’s obvious that the Metaverse is not going anywhere anytime soon. The sector is growing at a rapid pace, allowing people to share and immerse digital environments, goods, assets, and services all in one place. The trademark application indicates it may be possible the NYSE may be considering opening a Metaverse based trading platform to some degree — however only time will tell with what is to come.
Michael Kondoudis adds’,
“The NYSE is clearing taking a proactive, forward-thinking approach to ensure that it is the leading financial exchange in the Metaverse.”