New York Stock Exchange Rolls Out Six “First Trade” NFTs

Non-fungible tokens (NFTs) are currently making waves both within and outside the crypto space, with the largest stock exchange in the world, the New York Stock Exchange (NYSE) as the latest entity to venture into it.

In a recent tweet, NYSE announced that it has launched NFTs that will commemorate the first true trade of companies that are listed on its platform. These NFTs are dubbed “NYSE First Trade.”

When a company goes public on the exchange’s platform, it processes millions of trades but according to NYSE, the company’s true first trade is the exact moment it goes public on the exchange. It considers it the most memorable moment for the company.

“The First Trade is the exact moment a company becomes public, creating an opportunity for others to share in its success,” the stock exchange said.

The first batch of NYSE First Trade NFTs to be minted will include Spotify, Snowflake, Unity, Coupang, Roblox, and DoorDash.

Minting these NYSE NFTs will memorialize the First Trade of these companies and serve as indisputable proof of authenticity and ownership since it is embedded on the blockchain.

There is only one edition of each of the six stocks available for sale on the NFT page. Each of these tokens contains the precise date, time, price, and other necessary details regarding the company’s First Trade.

In conclusion, NYSE said,

“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.

NFT Adoption Goes Mainstream

The NFT mania has been blowing up in recent months, with Google searches for “NFT” and other related terms have skyrocketed since the beginning of the year.

Several influential figures, institutions, and celebrities have jumped on the trend, propelling its fame to unimaginable heights and spiking the interests of millions of people.

Every day, NFTs and related trades make headlines. Everything is gradually becoming NFTs, from sports cards to digital art collectibles and even tweets.

A month ago, Twitter’s founder, Jack Dorsey, pledged to donate the proceeds from the sale of his NFT tweet to charity.

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Author: Obike Favour

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Author: Obike Favour