NYSE First Trade of NFTs

On the 12th of April the NYSE introduced  “First Trade” NFTs, the true first trade of six stocks on the public market. These are a series of crypto collectibles also known as non-fungible tokens.

The NYSE President wrote an announcement : “At the NYSE, we love to celebrate moments. It seems fitting to launch our own NYSE First Trade NFTs as a new, fun way to mark the moment a company joins the NYSE”.

The 6 companies that got gifted NFTs to commemorate First Trades are: Spotify, Unity, Roblox, DoorDash, Coupang and cloud computing services company Snowflake.

The representative of NYSE parent company ICE were fast with informing CoinDesk the exchange was “minting” NFTs not selling them.The source from ICE also stated that NYSE do not have any plans of selling NFTs – not now, not ever.

Adding the world´s largest stock exchange to the invite-only platform could be a coup among a very specific audience of investors.This might spark a show of interest for NFTs, to influencers and celebrities who join and invest in NFT’s selling rare collectible, digitally or physically. Some famous  artists joining the NFT hype include Snoop Dogg, Mr.Brainwash and Boy George.

NFTs have risen in popularity since the rise in values of digital currencies, like bitcoin and ether. At the moment the market is growing at a pace, with some digital collectible being sold for millions of dollars.

Action house Christie´s sought bids on a virtual work from the artist Beeple which was sold for $69 million.




Image: Angelo Giordano 

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