NFT Trading: Rise of Buying Fever for Institutions

Institutions take on NFTs – The NFT ecosystem has been booming since mid-2021. In total, the NFT ecosystem has generated more than $21 billion in volume over the past year. Until now quite specific to the crypto ecosystem, the NFT fever is now starting to infect institutions.

New York Stock Exchange gets into NFTs

the New York Stock Exchange (NYSE) is one of the major US stock exchanges. Last April, the platform jumped on the NFT bandwagon. Indeed, the latter issued its first NFTto celebrate the first trade made on Spotify’s stock.

In parallel with this first NFT, the NYSE announced: “there will be many more NFTs to come”. This promise is about to come true.

Indeed, on February 10, the New York Stock Exchange made a surprising trademark registration.

“Providing an online marketplace for buyers, sellers and traders of downloadable digital goods authenticated by non-fungible tokens (NFTs). », explains trademark registration.

Thus, the NYSE may well explore the creation of an NFT trading platform. However, this trademark registration does not necessarily imply the implementation of such a project. The NYSE may well have created this request for the purpose of “appropriate intellectual property related to current market areas of interest”as reported by our colleagues from TheBlock.

The New York Stock Exchange

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Of course, the New York Stock Exchange is not the only entity taking a keen interest in NFTs and Metaverse.

Thus, the banking giant JP Morgan recently announced the opening of a new salon in Decentraland. In parallel with this purchase, the bank also published a white paper for its customers to better understand the Metaverse.

The firm has expressed a desire to bring its “long-standing core competencies in cross-border payments, foreign exchange, creation, trading and custody of financial assets” into the Metaverse.

In January 2022, the volume of NFTs exceeded the symbolic mark of 6 billion dollars. Unsurprisingly, Ethereum remains the preferred blockchain for NFT trading.

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