The New York Stock Exchange (NYSE), the largest stock exchange in the world, has joined the nonfungible tokens (NFTs) trend. The organization will auction NFTs the celebrate the first trade on the stock market of several companies.
Spotify, Snowflake, Unity, DoorDash, Roblox and Coupang have already announced they agree to the sale of their first ever trade, and more are expected to join. Notably, three of these stocks are entertainment-oriented.
When a new company goes public on the NYSE, its CEO strikes the famous first trade bell and the processing of orders for stocks in the company commences. And in the capital markets sector, banks create ‘tombstones’ of the deals they were involved in. These NYSE NFTs merge the two concepts with an animation of a gavel striking a bell, followed by a stock’s tombstone.
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