New York Stock Exchange (NYSE) to Mint NFTs of its Largest IPOs of 2021
New York Stock Exchange (NYSE) has joined the non-fungible token (NFT) crowd by announcing the launch of NYSE First Trade NFTs.
The idea is to commemorate the moment a company gets listed on the NYSE and trading for the first time — a “major milestone.”
During the public debut of a company, the exchange processes over 350 billion orders, quotes, and trade messages across its markets shared NYSE president Stacey Cunningham in a LinkedIn post.
“Only one of those messages marks the NYSE First Trade: the exact moment a company became public, creating an opportunity for others to share in their success.”
“The NYSE First Trade NFT memorializes that unique moment in a company’s history.”
After being the first with Direct Listings and then being at the forefront of SPACs, NYSE wants to try its hand at digital art, NFTs — “a fun way to mark the instant a company joins our community.”
These NFTs memorialize a company’s First Trade using the blockchain’s digital ledger, providing irrefutable proof of authenticity and ownership.
“First Trade Slips” starts with six NYSE listings that will include the largest initial public offerings (IPO) of 2021 so far, Spotify, SnowflakeDB, DoorDash, Coupang, Roblox, and Unity3D.
These NFTs can be accessed on Crypto.com, which recently launched its NFT platform.