People walk by the New York Stock Exchange (NYSE) the morning music streaming service Spotify trades 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 would launch “First Trade” NFTs to commemorate the true first six-stock transaction in public markets.
NFTs, or non-replaceable tokens, are a type of digital asset created to track the ownership of a virtual item using blockchain technology. Such unique items could be a work of art or sports trading cards.
During a company’s public debut, the exchange processes more than 350 billion order, quote, and trade messages about its markets on its busiest days, NYSE President Stacey Cunningham said in a LinkedIn post.
Each message is recorded in the exchange’s digital ledger.
“Nothing but a Of those messages, the NYSE First Trade marks the exact moment when a company went public, giving others a chance to share in their success, “Cunningham said.” The NYSE First Trade NFT commemorates that unique moment in a company’s history. “
NYSE’s first class of NFTs represents Spotify’s first transaction, which carried out its inaugural direct listing on the exchange.
In a direct listing, a company makes its debut by selling existing shares directly to the public rather than hiring intermediaries.
The exchange’s NFT offering also includes Snowflake, the largest software IPO ever, as well as Unity, DoorDash, Roblox and Coupang, the largest IPO of 2021 to date.
NFTs have skyrocketed in popularity this year, along with a surge in the values of digital currencies, such as bitcoin and ether. The market is growing rapidly, with some digital collectibles selling for millions of dollars.
Twitter CEO Jack Dorsey sold the very first tweet for more than $ 2.9 billion on blockchain company Cent’s “Valuables” platform. Meanwhile, auction house Christie’s sought bids for a virtual work by the artist Beeple, which eventually sold for $ 69 million.
Investors can access NYSE NFTs on crypto.com
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– with reporting from The Washington City Times’s Ryan Browne.