Nyse moves closer to nft with

The hype around cryptocurrencies last year spilled over to NFTs, a form of speculative investment that has attracted fans including former U.S. first lady Melania Trump and Jamaican sprint great Usain Bolt.

Companies involved in this sector have also been backed by heavyweights Microsoft Corp and SoftBank Group Corp.

If the NYSE launches a new marketplace, it would compete with SuperRare, Rarible and NFT markeplace giant OpenSea, which was valued at $13.3 billion after its latest funding round.

However, a spokesperson for the NYSE said it has no immediate plans to launch cryptocurrency or NFT trading.

“(The NYSE) regularly considers new products and their impact on our trademarks and protects our intellectual property rights accordingly,” the spokesperson added.

NFTs have left many baffled as to why so much money is spent on items that do not physically exist.

Nyse moves closer to nft trading with trademark application

Gamestop (NYSE:GME-7.4%) shares slipped sharply to close the week after hinting at emerging plans for NFTs.

Despite vanquishing their foil in Melvin Capital Management CIO Gabe Plotkin and being scolded by Citadel’s Ken Griffin, the “apes” are not driving their flagship meme stock higher on Friday. In fact, the stock traded on well-below-average volume.
For comparison, average trading volume on Friday trended at about 4.4 million in contrast to over 50 million only a week prior.

The lack of trading volume perhaps portends a lack of enthusiasm for the company’s latest NFT initiative, which it first tweeted about in detail after Thursday’s market close.

“Public, permissionless, credibly neutral value layers,” a newly created Gamestop NFT account tweeted.

The NYSE minted its first set of NFTs in April last year, commemorating the first trades of six “notable” listings.

The exchange’s filing indicates it could enter into the metaverse too, as it seeks to provide “virtual reality, augmented reality and mixed reality software”.

Metaverse refers to shared, immersive digital environments which can be accessed via virtual reality or augmented reality headsets or computer screens.

Besides NFTs, the exchange would also provide “an online marketplace for buyers, sellers and traders of virtual and digital assets, artwork”, it said in a filing with the US Patent and Trademark Office dated Feb 10th.

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When a large project mints, you’re seeing other large projects fall in floor price because they’re trying to get liquid to be able to buy the new thing on the block. We saw this with the Otherside mint, which was possibly the biggest mint of all time, over $200 million sucked into this project.

And of course, this was the a16z-backed 450 million Yuga Labs Otherside verse, right? And when we saw this mint, we just saw all projects’ floors fall.

So we are seeing this bathtub effect. It is real. But again, it’s not as bad as it looks, I would say, because some of these floors are still holding strong.

For instance, a recent project that minted was Moonbirds, and that happened right before this bear market, per se. It dropped from 44 down to 25. Obviously, that’s a big significant drop, almost a 50% drop.

But, you know, it’s not zero.

Some also believe the industry is saturated by scammers and too often rewards viral art of low quality.

The NYSE minted its first set of NFTs in April last year, commemorating the first trades of six “notable” listings.

The exchange’s filing indicates it could enter into the metaverse too, as it seeks to provide “virtual reality, augmented reality and mixed reality software”.

Metaverse refers to shared, immersive digital environments which can be accessed via virtual reality or augmented reality headsets or computer screens.

Besides NFTs, the exchange would also provide “an online marketplace for buyers, sellers and traders of virtual and digital assets, artwork”, it said in a filing with the US Patent and Trademark Office dated Feb.

Some also believe the industry is saturated by scammers and too often rewards viral art of low quality.

The NYSE minted its first set of NFTs in April last year, commemorating the first trades of six “notable” listings. [https://bit.ly/3gQiWPE]

The exchange’s filing indicates it could enter into the metaverse too, as it seeks to provide “virtual reality, augmented reality and mixed reality software”.

Metaverse refers to shared, immersive digital environments which can be accessed via virtual reality or augmented reality headsets or computer screens.

Besides NFTs, the exchange would also provide “an online marketplace for buyers, sellers and traders of virtual and digital assets, artwork”, it said in a filing https://tsdr.uspto.gov/documentviewer?caseId=sn97261560&docId=APP20220214081906#docIndex=1&page=1 with the U.S. Patent and Trademark Office dated Feb.

U.S. first lady Melania Trump and Jamaican sprint great Usain Bolt.

Companies involved in this sector have also been backed by heavyweights Microsoft Corp and SoftBank Group Corp .

If the NYSE launches a new marketplace, it would compete with SuperRare, Rarible and NFT marketplace giant OpenSea, which was valued at $13.3 billion after its latest funding round.

Also Read | Irregular sales worth billions fire up wild NFT market

However, a spokesperson for the NYSE said it has no immediate plans to launch cryptocurrency or NFT trading.

“(The NYSE) regularly considers new products and their impact on our trademarks and protects our intellectual property rights accordingly,” the spokesperson added.

NFTs have left many baffled as to why so much money is spenton items that do not physically exist.

Some also believe the industry is saturated by scammers and too often rewards viral art of low quality.

The NYSE minted its first set of NFTs in April last year, commemorating the first trades of six “notable” listings.

The exchange’s filing indicates it could enter into the metaverse too, as it seeks to provide “virtual reality, augmented reality and mixed reality software”.

Metaverse refers to shared, immersive digital environments which can be accessed via virtual reality or augmented reality headsets or computer screens.

Besides NFTs, the exchange would also provide “an online marketplace for buyers, sellers and traders of virtual and digital assets, artwork”, it said in a filing with the U.S.

NFTs, a form of speculative investment that has attracted fans including former U.S. first lady Melania Trump and Jamaican sprint great Usain Bolt.

Companies involved in this sector have also been backed by heavyweights Microsoft Corp and SoftBank Group Corp .

If the NYSE launches a new marketplace, it would compete with SuperRare, Rarible and NFT markeplace giant OpenSea, which was valued at $13.3 billion after its latest funding round.

However, a spokesperson for the NYSE said it has no immediate plans to launch cryptocurrency or NFT trading.

“(The NYSE) regularly considers new products and their impact on our trademarks and protects our intellectual property rights accordingly,” the spokesperson added.

NFTs have left many baffled as to why so much money is spent on items that do not physically exist.

So there’s a lot of brand ability here, but I see the holder in passes and exclusivity, almost like a VIP club, per se.

BRIAN CHEUNG: And, Gannon, lastly, I want to ask here just about the platforms by which NFTs are trading. We know OpenSea is obviously a big one. But we’ve seen Coinbase, for example, try to enter the space.

They’re saying that’s going to be a massive possible windfall and new revenue stream for them. But look, the stock has been treated very, very– well, let’s just say it, it’s dropped off a cliff, essentially, since their earnings.

So how do you think you view other types of competitors coming into the space? Because we know the uptake so far for their NFT marketplace has not been very high.

GANNON BRESLIN: Yeah, I’m hurting. I own Coinbase, so that is down significantly over the year.
You hit a soft spot there, Brian.

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If the NYSE launches a new marketplace, it would compete with SuperRare, Rarible and NFT markeplace giant OpenSea, which was valued at $13.3 billion after its latest funding round.

However, a spokesperson for the NYSE said it has no immediate plans to launch cryptocurrency or NFT trading.

“(The NYSE) regularly considers new products and their impact on our trademarks and protects our intellectual property rights accordingly,” the spokesperson added.

NFTs have left many baffled as to why so much money is spent on items that do not physically exist. Some also believe the industry is saturated by scammers and too often rewards viral art of low quality.

The NYSE minted its first set of NFTs in April last year, commemorating the first trades of six “notable” listings.

So it’s going to be really exciting.

BRIAN CHEUNG: Hey, Gannon. Brian Cheung here. Great to speak with you. I want to ask you just about, kind of, the liquidity in the market right now.
Because even before the big spill that we saw in crypto, I heard NFT traders saying, look, it’s really weird because you’ll see a brand new project that’s going to come out, and then all of a sudden, you see people liquidating on OpenSea from other big projects to go over there. And every time there’s something new, you see the tide go out and then come back in again.
Do you think that with the spill that we’re seeing, that that’s even going to further dry up liquidity? And could it possibly even make some projects go belly up?

GANNON BRESLIN: No, it’s definitely possible. There is a little bit of a bathtub effect happening here.

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