Just ahead of the Coinbase IPO at Nasdaq, the New York Stock Exchange (NYSE) is also venturing into the crypto world. With the launch of its own non-fungible tokens (NFTs), the NYSE is trying to preserve the unique experience of some stock exchange listings.
The New York Stock Exchange (NYSE) is an institution steeped in history, facilitating the transition of many companies from private financing to public trading. As an institution, it gives a broad community of investors a chance to share in a company's success. As an innovator in the world of public equities, NYSE is constantly looking for new ways to celebrate its listed companies. One such way is with its own NFT collection.
NYSE "First Trade" Collection
The exchange is celebrating six notable listings with its first NFT series, "First Trade". Spotify, which completed its first ever Direct Listing, and Coupang, the largest US IPO so far this year. Snowflake, Unity, DoorDash and Roblox wrap up the Initial series.
3/6: How do our NFTs work? These non-fungible tokens memorialize a company’s First Trade using the blockchain’s digital ledger and provide irrefutable proof of authenticity and ownership.
— NYSE 🏛 (@NYSE) April 12, 2021
Not too far from the world of blockchains, every trade on the NYSE is recorded in a digital ledger. The data from these very first trades will be embedded on each collectible. More NYSE NFTs are likely to follow as they soon welcome new, innovative companies into their circles.
NFT platform
The NYSE uses Crypto.com's marketplace, which runs on a standalone blockchain. The platform strives to create the most user-friendly NFT buying experience. At launch, users will be able to buy with one click using their credit or debit card. Any collector or fan should be able to purchase, trade and resell NFTs through the platform. This is regardless of whether he is a Crypto.com user or not.
We’re proud to partner with @NYSE to present The First Trade: a series of #NFTs commemorating the 1st public trades of some of the most innovative companies in the world, including @Spotify, @DoorDash, @Roblox, and more!https://t.co/t3ln8hwjbe pic.twitter.com/oMiYc1goOV
— Crypto.com (@cryptocom) April 13, 2021
Registered users will be able to pay for NFTs using the app's payment feature. Through Crypto Pay, users will be able to pay with over 20 other cryptocurrencies. Currently, neither the price nor the available quantity of the NFT editions are apparent in the profile.
