What details does NYSE have in its trademark application?

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New York stock exchanges applied for the trademark in the United States Patent and trademark office for offering NFT trading services in the metaverse. NYSE has become the first-ever stock exchange to provide trading services for cryptocurrency and NFT, which can compete with other stock exchanges and existing NFT marketplaces like OpenSea, SuperRare, etc. After getting approval for a trademark, investors can trade in cryptocurrency and NFTs similar to the stock market. 

The application contains the following details:

  • The application shows that NYSE is willing to introduce NYSE branded cryptocurrency to offer investors to buy, sell and trade in the marketplace. 
  • NYSE will utilize the benefits of downloadable virtual reality, augmented reality, and mixed reality software.  
  • NYSE leverage the downloadable software that enables the users/investors to experience virtual, augmented reality, and mixed reality software in the metaverse. 
  • NYSE application stated the use of blockchain technology and related products. 

NYSE application clearly intends to enter into the metaverse, where metaverse means shared, immersive virtual environments which can be accessed through virtual reality or augmented reality headsets or computer screens.

NYSE is constantly researching various cryptocurrency and NFTs products and their effects on trademarks and protection of intellectual property rights. NYSE had already minted six NFTs in April 2021, comprising its first trade notable listings. 

NYSE will use blockchain technology to authenticate the data of NFTs to establish reliability among the investors and monitor transactions within the marketplace. 

The hype around cryptocurrency and NFT is spilt worldwide for speculative investments that have attracted large corporations like Microsoft and SoftBank Group. 

Read more details here: https://www.blockmagic.in/news/new-york-stock-exchange-steps-into-the-crypto-market-nfts/

 

Author: Anushka Trivedi

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