Chicago Board Options Exchange Files Trademark for NFT & Crypto Services

The Chicago Board Options Exchange (CBOE Exchange, Inc. (CBOE)) has filed for a trademark application for CBOE DIGITAL for a non-fungible token (NFT) trademark, attorney Michael Kondoudis announced through a tweet.

"The Chicago Board Options Exchange has filed a trademark application for CBOE DIGITAL indicating plans for Exchanges and trading platforms for NFT backed digital assets; Marketplaces and exchanges for crypto + non-fungible + digital assets," Kondudis, a Washington DC-based trademark lawyer, tweeted.

The application was submitted to the U.S. Patent and Trademark Office on April 14, 2022.

It also signals plans by the CBOE Exchange to expand to various virtual, crypto and financial goods and services such as the provision of a financial exchange for the trading of digital assets authenticated by NFTs; financial exchange services; operation of electronic exchange for buyers and sellers of NFTs and online non-downloadable software for users to create, exchange, sell, purchase, and transmit non-fungible assets, digital assets, and crypto collectables authenticated by NFTs.

According to Kondoudis, "the CBOE is the largest options exchange in the U.S. This filing is the next logical step to protect the CBOE brand as it moves further into the digital economy of the Metaverse."

"The CBOE is clearing taking a proactive, forward-thinking approach to ensure that it is a leading financial exchange in the digital economy of the Metaverse," he added. "It is a safe bet that the CBOE expects to be a major player in that virtual economy."

Kondoudis tracks Metaverse and NFT trademark filings at the U.S. Patent and Trademark Office. However, Kondoudis does not represent the CBOE.

Earlier this year, the New York Stock Exchange filed a similar trademark application, according to Kondoudis, trademark applications by the CBOE have become a trend of filings in the financial sector for NFT and blockchain asset trading.

"We expect the number of trademark filings for NFT and blockchain products and services from the financial services sector to continue over the next 12 months as brands come to appreciate the opportunities of the digital economies," Kondoudis added.