NYSE ‘Coming to Metaverse’, Files NFT-Related Trademark Application

 

The New York Stock Exchange (NYSE), the world’s largest stock exchange, has filed a trademark application with the United States Patent and Trademark Office (USPTO) to register the term “NYSE” for an array of metaverse– and non-fungible token (NFT)-related products.

Trademark attorney Michael Kondoudis initially revealed the application, saying that the NYSE “is coming to the Metaverse.”

The application suggests plans “to trademark NYSE for NFTs, cryptocurrencies, digital collectibles, and marketplaces to trade and exchange them,” Kondoudis wrote.

Filed on February 10, the new trademark application suggests the NYSE intends to provide an online marketplace for buyers, sellers, and traders of “downloadable virtual goods,” namely, NFTs and NFT collectible series, digital collectibles, digital tokens, and digital art.

The filing also lists “virtual reality” software, and software for digital, virtual, and cryptocurrency wallets and storage. 

It further includes “software and application programming interface (API) for sending, receiving, accepting, buying, selling, storing, transmitting, trading and exchanging digital currency, virtual currency, cryptocurrency, digital and blockchain assets.”

In another section, the trademark includes “cryptocurrency trading services” that would facilitate the “financial exchange of virtual currency.”

Notably, this is not the American stock exchange’s first foray into NFTs. In early 2021, the NYSE minted NFTs of the first trade made in the shares of six prominent US companies, including Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang.

Meanwhile, as reported, American fast-food behemoth McDonald’s filed 11 trademark applications earlier this month that make direct references to virtual restaurants, cafes, concerts, and other virtual services, goods, and events. Prior to that, Walmart and Crocs had filed trademark applications suggesting that they aim to offer virtual goods, digital assets, and NFTs.

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Learn more: 
– The Future of NFTs: A Race Between Traditional Businesses and Crypto-based Financial Services
– NFTs in 2022: From Word of the Year to Mainstream Adoption & New Use Cases

– NFT Market Cools Down Once Again as Crypto Prices Heat Up
– NFT Prices ‘Relatively Independent’ of Broader Crypto Market

– JPMorgan on Metaverse
– YouTube Eyes Metaverse, Blockchain, NFT Features As Creator Program Hits 2M Users

– NFT Infrastructure Moves: OpenSea Acquires Dharma, Coinbase Partners With Mastercard
– UK Tax Authority Confiscates 3 NFTs in Fraud Case as a First