People pass by the New York Stock Exchange (NYSE) on the morning when the Spotify music streaming service starts trading shares on the NYSE on April 3, 2018 in New York City.
Spencer Platt | Getty Images
The New York Stock Exchange announced on Monday that it will launch the “First Trade” NFTs, to commemorate the true first trading of six shares on public markets.
NFTs or non-fungible chips are a type of digital asset created to track ownership of a virtual item using blockchain technology. Such unique objects could be a piece of art or sports trading books.
During a company’s public debut, the exchange processes more than 350 billion orders, offers and trades on its markets in the busiest days, NYSE President Stacey Cunningham said in a LinkedIn post.
Each message is recorded on the digital stock exchange register.
“No more one of these messages marks NYSE First Trade: the exact moment a company went public, creating an opportunity for others to participate in their success, “Cunningham said.” NYSE First Trade NFT commemorates that unique moment in a company’s history. “
The first class of NFTs on the NYSE is the first transaction of Spotify, which performed the inaugural direct listing on the stock exchange.
In a direct listing, a company starts by selling existing shares directly to the public instead of bringing in intermediaries.
The stock market’s NFT offerings also include Snowflake, the largest IPO software ever made, as well as Unity, DoorDash, Roblox and Coupang, the largest initial public offering from 2021 to date.
NFTs have grown in popularity this year, along with an increase in the values of digital currencies such as bitcoin and ether. The market is growing rapidly, with some digital collections selling for millions of dollars.
Twitter CEO Jack Dorsey sold the first tweet for more than $ 2.9 billion on the “Valuables” platform run by blockchain Cent. Meanwhile, Christie’s auction house was looking for bids for a virtual work from artist Beeple that eventually sold for $ 69 million.
Investors can access NYSE NFTs on crypto.com
Did you like this article?
For exclusive stock choices, investment ideas and CNBC’s global broadcast flow
Sign up for CNBC Pro
Start the free trial now
– with reports from Ryan Browne from CNBC.