PayPal Applies for NFT Marketplace Patent; Enhancing Blockchain Initiatives

PayPal has applied for a United States patent for an NFT marketplace that would let users buy, sell and transfer non-fungible tokens on its own platform. According to CoinTelegraph, as cited in the article, the application was submitted in March, was reported only this month, and remains pending at the patent office. The article says the filing also covers fractionalization, decentralized autonomous organizations and royalties, and that the third-party provider is unspecified, though the documents reference Ethereum. PayPal's stated aim is to use NFTs for tokenization beyond digital collectibles.