The New York Stock Exchange has joined a slew of companies filing trademarks in the metaverse. Watch Ross Mac’s Maeconomy breaking down the latest cryptocurrency news on The street’s ‘Crypto Minute’ on Wednesday, February 16.
You won’t believe it… Wall Street’s staple exchange is jumping into the NFT craze.
It’s your boy Ross Mac and that’s what cryptocurrency investors are watching on Wednesday February 16th.
The New York Stock Exchange is the latest company to register an NFT trademark, following others such as GameStop, McDonald’s. And then there are the companies already involved in NFTs like Nike, Twitter and Mastercard. But why are companies getting involved in this space?
We can sum this up in three reasons. The first is that it is a hot new trend. There are ongoing issues with scammers, counterfeits, and power consumption, but NFTs have become so popular outside of the crypto world. Then there’s the fact that it’s a very profitable business. Look at how bored monkeys sell, for example.
And, finally, getting involved in NFTs gives businesses exposure to the rapidly developing crypto space and, through it, the metaverse.
TheStreet’s Crypto Minute is brought to you by blockchain.com.