NFT

New York Stock Exchange to mint NFTs of six listings

  • NYSE to release NFTs of six notable listing
  • The NFTs will be for companies such as Spotify, DoorDash, Unity, and more
  • NFT mania continues to grow as more companies adopt it

NFT mania has been sweeping various sectors of the global economy as individuals and businesses look to take advantage of the benefits inherent in art digitalization. New York Stock Exchange has followed Forbes’ footsteps by minting some of its notable listings.

NYSE to mint some notable listings

Stock exchange operator, the New York Stock Exchange, has announced that it will mint some of its most notable NFTs. This comes as companies leverage blockchain technology to digitalize some of their assets.

Announced earlier today, NYSE stated that the NFTs would represent some memorable moments for the exchange. NYSE stated that “When we decided to mint the NYSE’s first NFTs, it was fitting that we chose to memorialize that particular one-of-a-kind moment. Our first-class of NYSE NFTs celebrates the First Trades of these notable listings: Spotify, which executed the first-ever Direct Listing, Snowflake, Unity, DoorDash, Roblox and Coupang, the largest U.S. IPO so far this year.”

NYSE added that although it is starting with these six listings, there will be many more NYSE NFTs to come as the exchange continues to welcome new and innovative companies into the community.

The post added that the NFTs would be available on Crypto.com, one of the leading cryptocurrency exchanges. While discussing it on Twitter, NYSE explained how its NFTs work. NYSE pointed out that “These non-fungible tokens memorialize a company’s First Trade using the blockchain’s digital ledger and provide irrefutable proof of authenticity and ownership.”

NYSE further explained that the first trade is the exact moment a company becomes public, creating an opportunity for others to share in its success. The company said it intends to keep supporting innovation. “Innovation is what we do at the NYSE. We were the first with Direct Listings and at the forefront of the emergence of SPACs. Now we want to help drive this new wave of NFT innovation,” NYSE concluded.

NFT mania continues to grow

NFT has swept several sectors of the global economy as companies and individuals find ways to digitalize their arts and other content. So far, companies such as Playboy, Forbes, Coinbase, and several others have all released NFTs.

Furthermore, independent artists like Beeple have sold NFTs worth millions of dollars. Thanks to NFTs, artists can now get more rewards for their work as it helps create the appropriate value.

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