NYSE files trademark to launch it's own NFT Marketplace

NYSE files trademark to launch it's own NFT Marketplace
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With the NFT industry monthly volume clocking $10 Billion across the most popular NFT marketplaces like Opensea, LooksRare and Rarible. The NYSE shows some interest in the NFT marketplace business. With Coinbase coming up with their own NFT marketplace as well, the space seems to be heated up.

The stock exchange launched in the 17th century is now adapting itself to the growing trend and competition. The NYSE on its regulatory filing with the U.S Patents & Trademark Office showed its interest in being a marketplace to trade cryptocurrencies & NFTs. The filing was dated on FEB 10 where the latter showed its interest.

No plans of launch

However, it is still doubted that they would launch anything in the near future. In the filing, it was mentioned that this act was to protect their interest in the specific area of business. The market of $10B might seem bigger but is still in its earlier stages with a few thousand users actively trading and a few institutional participation.

With the market growing at a rapid pace, it will invite NYSE to enter the market once the market matures. It has to be noted that NYSE is one of the corporations that played its hand in the NFT hype among big corporations last year and early 2022. They minted the IPOs of popular brands like Spotify as NFTs. The interest of NYSE in NFT trading shows the hyper-growth of the market in recent times.