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PayPal Applies for NFT Marketplace Patent to Expand Web3 Strategy

PayPal has applied for a patent for an NFT marketplace that supports on or off-chain trading of various types of NFTs, including tokenized assets. The company plans to offer more than just collectibles and is targeting a variety of organizations, including DAOs, which could use the platform to issue governance tokens that can also be traded. PayPal's foray into the world of NFTs comes at a time when activity in the industry has fallen significantly. The NFT marketplace will support on-chain NFT trading through a third-party service provider, while off-chain transactions could be supported by a wallet service provider.

NFT Marketplace Web3
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