The New York Stock Exchange recently announced that it is minting its own NFTs to celebrate the first trades of several extensive company listings.
The NYSE’s first class of NFTs is Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang, some of the larger traditional U.S. initial public offerings (IPOs).
According to NYSE, they were the first with Direct Listings and at the forefront of the emergence of SPACs (special purpose acquisition companies). The New York Stock Exchange announced that they want to help drive this new wave of NFT innovation.
What is NFT? NFTs are digital files like art, video, audio, and other files stored on a blockchain. It is the digital ledger technology that powers cryptocurrencies. Remarkably, some NFTs have already sold for tens of millions of dollars.
The NYSE NFTs reveal a 10-second highlight of the first trade slip of the six companies mentioned above. The NYSE also implied that there will be many more NFT first trade slips in the near-term.
NFTs have peaked in popularity this year
The NFT market has taken hold in the last months. All kinds of organizations are creating their own NFTs, from the National Basketball Association launching its digital trading card to the sale of digital art.
The market for NFT assets, as well as for companies getting into space, has been highly volatile. But the new asset class seems to be getting further adoption in the near term.
NFTs have peaked in popularity this year, along with an increase in the values of digital currencies, like bitcoin and ether. The market is increasing rapidly, with some digital collectibles being sold for millions of dollars.
Twitter CEO Jack Dorsey sold the first-ever tweet for more than $2.9 million on the “Valuables” platform run by blockchain fim Cent. Additionally, auction house Christie’s sought bids on a virtual work from the artist Beeple, which eventually sold for $69 million.