The New York Stock Exchange (NYSE) is jumping into the non-fungible token (NFT) craze with the release of their own unique crypto-powered collectibles.
In a new announcement, the largest stock exchange in the world reveals that it would be releasing NFTs of the very first trading slip of six hot tech companies from the day of their initial public offerings (IPOs).
The six companies whose first trades have been memorialized by NYSE’s NFTs are Spotify, Snowflake, Unity, DoorDash, Roblox and Coupang. The exchange hints that the first batch of NFTs is likely only the beginning.
“When we decided to mint the NYSE’s first NFTs, it was fitting that we chose to memorialize that particular one-of-a-kind moment…We are starting with these six, but we know there will be many more NYSE NFTs to come as we continue to welcome new, innovative companies to our community.”
NFT’s are verifiably unique blockchain-based items such as images, videos or music, with properties that can be thought of as certificates of ownership.
The trend has recently seen offerings from top celebrities including rapper Snoop Dogg, pop star The Weeknd, and viral YouTuber Logan Paul.
Since their peak in February, the average price of an NFT has dropped off drastically from $4,300 to about $1,400 according to a recent Bloomberg report.
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Featured Image: Shutterstock/Yurchanka Siarhei/Anton-Burakov
