New York Stock Exchange Files Trademark for Offering Trading Services in the Metaverse

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New York Stock Exchange Files Trademark for Offering Trading Services in the Metaverse – The New York Stock Exchange (NYSE) has filed a trademark application in the metaverse to provide digital currency and NFT trading services.

The application, which was filed on February 10th, is the company’s first excursion into the notion of the metaverse. In the future, the company may face competition from other exchanges and existing NFT marketplaces.

Several keywords are mentioned in the applications, including:

Downloadable augmented reality, virtual reality, and mixed reality software; downloadable software that allows users to visualize, manipulate, and immerse themselves in virtual reality and augmented reality.

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Also Read: President Lukashenko Signs Decree to Create Crypto Wallet Register in Belarus

The technology for supplying trading services for NFTs and digital currencies is also mentioned in the filings. This would make the NYSE a direct rival to established markets like Opensea and Rarible.

This, according to Michael Kondoudis, a trademark lawyer, demonstrates the importance of the metaverse as part of the financial institution’s business model.

He explained:

This file is the latest proof that the metaverse exists, and corporations should prepare accordingly. Businesses will no longer have to wonder if it will happen. It’s simply a question of when.

Companies are coming together to provide their services in the metaverse in order to obtain a competitive advantage as early adopters. This is according to Kondoudis, who has seen a number of similar applications from businesses attempting to establish a presence in these expanding virtual worlds. 

He explained:

The NYSE is taking a strong, forward-thinking strategy to ensure that it remains the metaverse’s top financial exchange.

Also Read: Bitcoin Outperforms Major Tech Stocks by an Average of 12%

New York Stock Exchange Files Trademark for Offering Trading Services in the Metaverse – Other financial institutions appear to be taking the metaverse seriously as well. This is true of JPMorgan, one of the world’s largest investment firms, which just built a lounge in Decentraland, a metaverse-based platform.

Victoria’s Secret, the well-known lingerie firm, also submitted several trademark applications this week to sell its wares as NFTs in virtual worlds.

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