VSCurious about NFTs but not sure where to start? There is the idea that NFTs are too expensive or lack utility. This could explain why some are hesitant to buy NFTs. If so, you might want to try investing in NFT stocks to test the investing waters. Take a look at these top NFT actions to get you started.
What does NFT mean?
NFT is short for Non-Fungible Tokens. These digital assets can represent ownership of almost anything, including:
- Digital or physical art
- Video game avatars
NFTs were first introduced in 2014 when the move to cryptocurrency opened the door to investing in digital assets. They are an increasingly popular investment option today. What sets them apart from other investments is that each NFT is unique.
10 NFT stocks to invest in
If you think NFTs hold promise as an investment but aren’t ready to buy individual tokens, consider investing in a company involved in NFT creation, trading, or technology. Here’s a rundown of 10 NFT stocks to check out right now.
1. Dolphin Entertainment (DLPN)
This development company handles entertainment marketing and premium content. Its subsidiaries include:
- Fire Media
- The gate and the shore
- creative point of view
Its focus on the digital realm is worth considering if you’re interested in NFTs, especially since it has a separate NFT division. It recently introduced its own NFT marketplace called FTX.US, positioning the brand as an NFT leader.
2. eBay (EBAY)
EBay is on the list of most well-known brands – and is undoubtedly a household name. It is also a relevant investment option due to its expertise in e-commerce. The company has been allowing customers to buy and sell NFTs on eBay’s website since May 2021. And in June this year, it announced that it had acquired KnownOrigin, a leading NFT marketplace, in part of a deal that could help eBay position itself as a top site. for NFT collectors.
EBay also cultivates its own proprietary NFTs. One example is a canvas made in partnership with Oregon Ducks football player Kayvon Thibodeaux. The fact that eBay continues to adapt to meet changing market demands is impressive.
3. Cloud Flare (NET)
This streaming service could be a solid investment option as it is not an “NFT company” per se. Rather, it’s a web performance and security company and a leader in the $152 billion software-as-a-service industry.
Video creators who store their videos on Cloudflare Streaming can create NFTs for their work on a platform like OpenSea, then connect the token IDs and contact addresses with their videos.
4. McDonald’s (MCD)
McDonald’s isn’t the first company you think of when you think of “NFT stocks,” but the fast-food chain already has one foot in the metaverse as it awaits approval for 10 trademark applications it has submitted. in February. McDonald’s wants to trademark a virtual restaurant with virtual and physical products, entertainment services like online concerts and downloadable media files, video files and NFTs.
Good to know
You need a cryptocurrency wallet to buy, sell or trade NFTs. However, you can invest in many NFT companies through the stock market.
5. Sino-Global (SINO)
In March 2021, Sino-Global announced a partnership with CyberMiles, a Hong Kong-based blockchain platform, to introduce a robust NFT exchange. Today, the platform is the first of its kind to allow creators to sell their digital art within a platform specifically designed for NFTs. The platform serves as a bridge between the digital and physical world of art and investing.
The social media platform is always looking for ways to stay relevant, especially when it comes to monetization. The first indication of a partnership between Twitter and NFT was when founder Jack Dorsey sold his very first tweet for $2.5 million. Now, Twitter users who subscribe to the social media platform’s new Twitter Blue service can create NFT profile pictures directly from a connected digital wallet.
7. Funko (FNKO)
The brand is well known for its fashionable character toys with big heads. Various models are already in high demand and resell for hundreds or even thousands of dollars. The company recently launched Digital Funko Pop! NFT art. Art packs start at $10, and some buyers will also receive a coin for a physical toy with their purchase.
8. Shopify Inc. (SHOP)
This e-commerce platform puts buying and selling in the hands of the consumer. When Shopify President Harley Finkelstein tweeted about NFTs, the stock rose 19%. The rise did not last, indicating that the jump may have been due to news alone. This could be good news for investors, as Shopify is currently beta testing an NFT program that would allow merchants to sell NFTs from their stores.
9. Takung Art (TKAT)
Takung Art has made its mark selling physical artwork, especially Asian artwork. It is unique because it allows shared ownership of assets. This means that several people can own an artwork together, allowing more investors to enter the market.
The company launched its own NFT trading platform, NFTOEO, in April.
10. Jiayin Group (JFIN)
This title does not make headlines or cause waves in the stock market. The high-tech financial services company is based in Shanghai. At present, Jiayin Group does not yet work with NFTs. A series of tweets in December 2020 warned investors who now expect to see a shift to NFTs. And earlier this year, speculation that the switch would happen soon led to a brief rally in the stock price, which is currently hovering around $2.30.
With the current momentum, it’s safe to say that NFTs aren’t going anywhere, and investing in established companies such as McDonald’s and eBay is a relatively safe way to gain exposure. More speculative stocks, on the other hand, could take off at some point – or prove worthless in the long run. As with any investment, talk to an investment professional about how NFT stocks fit into your portfolio and never invest money you can’t afford to lose.
NFT Stock FAQs
- How does an NFT work?
- NFTs are similar to cryptocurrency in that they provide a way to buy and sell digital assets. An NFT can be almost anything someone wants to buy or sell. For example, distributing thousands of impressions of the same artwork would not be considered an NFT. The sale of a single unique work of art – digital or physical – is considered an NFT.
- Are NFTs cryptocurrencies?
- No, NFTs and cryptocurrency are similar because they use blockchain technology. Cryptocurrency and NFTs are relatively new, but as blockchain technology develops, it will be easier for consumers to understand the difference between the two.
- What does non-fungible mean?
- NFTs are considered “non-fungible” because there is no standard value that applies to all NFTs. The physical money that we use in the global economy has a standard value and even an exchange rate when exchanging currency for currency.
- What determines the value of an NFT?
- The value of an NFT is determined solely by the value an individual investor places on it. It is very similar to collectibles. One person may see no value in an old baseball card, while someone else identifies it as highly collectible.
Daria Uhlig contributed reporting for this article.
Data is accurate as of July 6, 2022 and subject to change.
This article originally appeared on GOBankingRates.com: 10 Best NFT Stocks to Watch Right Now
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.