NYSE releases collection of NFTs commemorating notable IPOs
The New York Stock Exchange (NYSE) has minted its first collection of non-fungible tokens (NFTs).
The six NFTs, referred to as "First Trades," commemorate noteworthy listings in the past, with each token representing the exact moment a company became public.
Traditionally, when a company carries out its initial public offering (IPO), its CEO will strike the NYSE First Trade bell, marking the moment the company joins the public market. Behind the scenes, the NYSE processes billions of order and trade messages.
"Each message is recorded in our trading platform’s digital ledger. Only one of those messages marks the NYSE First Trade: the exact moment a company became public, creating an opportunity for others to share in their success," wrote NYSE President Stacey Cunningham in a blog post on Monday. "The NYSE First Trade NFT memorializes that unique moment in a company’s history."
The NFT collection celebrates the first trades of Spotify, Snowflake, Unity, DoorDash, Roblox and Coupang (the largest U.S. IPO in 2021 so far).
Cunningham hinted that the exchange may release more NFTs in the near future.
"While we are starting with these six, we know there will be many more NYSE NFTs to come as we continue to welcome new, innovative companies to our community," she wrote.