COINNEXT

NFT’s and the Future of the New York Stock Exchange “The City will become the Center of Bitcoins.” ——Eric Adams. NYC Mayoral Candidate Elect -The center of the US and global economy is the stock market which started as an exchange for goods and developed into a marketplace that exchanged shares of American companies. However, due to uncertainty in global relations, some foreign Governments are pressurizing their own companies to de-list from the New York Stock Exchange adds volatility to the financial market. In the long term the withdrawal of these substantial global companies will affect the NYSE adversely. To continue its global leadership the NYSE needs to expand its core business.

New York City needs to raise capital as the Federal and State Governments have not helped New York’s finances in any way. If New York City mines Non-Fungible Tokens (NFT’s) that are pegged to Real Estate value in the city, residents and visitors alike can invest in the City’s future. Non-fungible tokens are a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. If this token is accessible to all its residents and visitors allows for the increase in value to sustain and even develop some of the city’s services, in addition the increase in value over time will monetarily help each resident and tourist who invests in the future of NYC. An expansion of the New York Stock Exchange to include Cryptocurrency trading and mining of its own Ethereum using hydrogen as its powersource will counteract the decline of the decreasing value of the NYSE and will invigorate its growth well into the future.