This year, several signals indicate the most dramatic change in current cryptocurrency news is that crypto is no longer an outlier when it comes to investment opportunities for a majority of people around the world.
One of the significant indicators of this is the increasing focus on marketing cryptocurrency to the general public. At the recent Super Bowl, cryptocurrency exchanges spend millions of dollars in promoting their services for people to get into the cryptocurrency market.
The NYSE and NFTs
Another recent headline in the current cryptocurrency news is the goal of the New York Stock Exchange to become the global marketplace and exchange for NFTs. NFTs or non-fungible tokens are digital files of collectible items, which can range from artwork to fashion design or even representations for non-digital collectibles.
Using blockchain technology, the digital file represents the sole ownership of the asset by the collector or the purchaser. The use of blockchain technology and the unique nature of each file ensures that there can only be one owner at a time, and the authenticity of the file is always available. Unlike cryptocurrencies, NFTs are a collectors’ market, which means the value of these types of assets is much harder to evaluate and appraise.
Should the NYSE have the patent to create this marketplace approved, it could move NFTs into a more mainstream market, similar to the trend seen with cryptocurrency. Using similar blockchain technology, this recognition could assist NFTs to become mainstream as well.
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