The New York Stock Exchange, or NYSE, has filed a trademark application to use the name “NYSE” on crypto products such as NFTs, augmented and virtual reality software, and online marketplaces.
This application underscores the New York Stock Exchange’s growing interest in the crypto world.
NYSE and the trademark application to link its name to NFTs
The New York Stock Exchange reportedly filed a trademark application with the United States Patent and Trademark Office, or USPTO, on 10 February.
The application would like to use the name “NYSE” to link to products such as Non-Fungible Tokens or NFTs, but also augmented reality software, virtual reality and online marketplaces.
In practice, the New York Stock Exchange would be able to provide “downloadable virtual assets” in the form of NFTs and digital collectibles. Not only that, but “data authentication in the NFT sector via blockchain technology” is also included.
In this regard, a spokesperson reportedly said:
“(The NYSE) regularly considers new products and their impact on our brands and protects our intellectual property rights accordingly”.
The NYSE and the second step to approach the NFT world
This trademark application to link to NFTs, is not the first move by the New York Stock Exchange to approach the world of Non-Fungible Tokens or collectibles.
Back in April 2021, the NYSE minted its first set of NFTs with tributes to six tech stocks that debuted on the world’s largest exchange, including Spotify, Roblox and Coupang.
At the time, the exchange said it was not selling the NFTs, only minting them, apparently for commemorative purposes.
The announcement had been posted on the LinkedIn of NYSE president Stacey Cunningham.
Trademarks to protect themselves in the metaverse
NYSE follows what other global companies or world famous names have done to protect themselves in the metaverse.
Such is the case with the estate of Kobe Bryant, the former NBA basketball player who died on 26 January 2020 in a helicopter crash, filing three trademark applications for virtual assets to protect his name in the metaverse. The filings are “Kobe Bryant”, “Mamba Forever” and “Mambacita”.
Not only that, fast food giant McDonald’s also filed ten new trademark applications to build “virtual restaurants with real and virtual products” and thus also in the metaverse.
The metaverse has also attracted other companies such as Nike, Ferrari, Walmart, Nvidia, Adidas, Epic Games, Microsoft and Apple, as well as, of course, Facebook’s big plan to use the metaverse for its future social network.
