New York Stock Exchange Launches First Trade NFTs
Each token commemorates the first trade of popular stocks.
- The NYSE has created a series of six NFTs to commemorate the first trades of various stocks.
- The lineup includes tokens related to Spotify, Unity, Roblox, DoorDash, Snowflake, and Coupang.
- The NFTs are listed on Crypto.com's NFT trading platform.
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The New York Stock Exchange (NYSE) has launched a series of crypto collectibles, also called non-fungible tokens or NFTs.
Tokens Commemorate First Trades
The exchange has created six tokens that commemorate the first listings of publicly traded companies.
NYSE president Stacey Cunningham wrote in 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 NFT lineup includes tokens related to the streaming site Spotify, the gaming companies Unity and Roblox, the delivery service DoorDash, the South Korean e-commerce company Coupang, and the cloud computing services company Snowflake.
The NYSE highlighted Spotify, which carried out a direct listing as an alternative to traditional IPOs. It also drew attention to Coupang, which ran the the largest U.S. IPO this year by raising $4.55 billion.
The tokens are listed on Crypto.com, which also lists NFTs for high-profile sellers such as Snoop Dogg, Aston Martin, and Boy George.
The NYSE acknowledged that it will likely create more tokens as more companies join its community. “There will be many more NYSE NFTs to come,” it stated in its press release.
At the time of writing this author held less than $75 of Bitcoin, Ethereum, and altcoins.
Correction: A previous version of this article stated that the NYSE’s NFTs would be available for sale. According to a company representative, the NFTs will be gifted to companies.