The New York Stock Exchange is expanding its digital assets and NFTs

The New York Stock Exchange (NYSE) recently filed a new trademark claim with the USPTO (U.S. Patent and Trademark Office). It also reveals a fascinating future direction for this famous exchange. (Click to view the full PDF)

In this case, we can see the NYSE anticipates a market for various digital assets. This includes virtual currencies, blockchain assets and digital assets, cryptocurrencies, cryptocurrency tokens, digital coins, Non-fungible Tokens (NFTs), utility tokens, digital media, digital collectibles, and the listing keeps going.

The New York Stock Exchange is aiming to cover all the sources

When we come across New York Stock Exchange trademark filings as extensive as this, it provides us an insight into the direction planned for the company. The NYSE intends to set up an exchange of NFTs and digital assets.

There is no doubt that the popularity that has been enjoyed by OpenSea's success as an NFT marketplace OpenSea has influenced this decision. We discussed it previously; We've observed OpenSea as the fastest-growing early-stage business. It went from being a laughingstock into a $13 billion enterprise in only ten months.

The $13 billion figure is quite a sum even for an iconic company like the New York Stock Exchange. Therefore, it's no surprise that the company is keen to get a piece of the action. And it goes much further than that.

Note how the terms VR (virtual reality), AR (augmented reality), and mixed reality are mentioned several times throughout the document. There's also the mention of trading services for "members of the digital community."

The New York Stock Exchange is considering an expansion into the metaverse. I can't help thinking of an ancient trading pit, the metaverse, where sellers and buyers meet to trade NFTs and digital assets.

It may sound like a crazy idea for a legacy company like the New York Stock Exchange. It's an organization that was established on May 17th, 1792. It's almost the same age as the United States itself. Now, the company is looking to enter the metaverse. If this doesn't show the magnitude of this trend, I'm not sure what does.

The main point here will be that NFTs, digital assets, and metaverses are becoming mainstream. This should be evident from now on. The legacy institutions aren't planning to be left behind.

The only issue I have with this is the regulatory aspect

As previously discussed, SEC Chairman Gary Gensler has taken a strong attitude towards digital assets. He's even gone as far to claim that we should regulate them all as securities.

If Chairman Gary Gensler successfully achieves this, it will effectively bring most digital assets under the United States Securities and Exchange Commission rules. Chairman Gary Gensler would like to classify them all as security rather than collectibles or currencies.

Startups such as OpenSea are unlikely to navigate through all the red tape bureaucracy that comes when you are classified as a broker/dealer in securities.

If the power grab by the Securities and Exchange Commission is realized, it will significantly reduce the creativity and progress achieved in the Web 3 community future. Additionally, it will mean fewer investment opportunities available to smaller investors. This is something we would all prefer to avoid.

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