The New York Stock Exchange (NYSE), the largest stock market in the world based on market capitalisation, enters the world of NFTs (non-fungible tokens), by launching an NFT collection for a selected number of shares traded on its platform.
In a tweet on Monday, April 12th, the NYSE announced the launch of the “NYSE First Trade NFTs” to honour the first transaction of six listed companies.
These companies include audio-visual distribution company Spotify, online food distribution companies DoorDash, Unity3D and Snowflake, online gaming platform Roblox and e-commerce giant Coupang.
According to the NYSE, the first trading on a stock exchange immediately after the listing is a milestone, and issuing an NFT, is a great way to remember such moments.
In addition, the move by the stock market to dive into the waters of the NFTs could give even more impetus to this relatively new industry.
“What we are doing at NYSE is innovative. We were the first with Direct Listings and on the front lines when SPACs came in. Now we wish to help drive this new wave of NFT innovation.”
Investors interested in these NFTs will find their collection at Crypto.com. The President of NYSE, however, said that after this first start with NFTs, more will follow in the future.
“When we started with these six, we knew there would be more NYSE NFTs to follow as we continue to welcome new innovative businesses to our platform.”
The NFT industry had a huge rise in 2020, with many sectors, but also personalities, embracing this new trend.