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Curious about NFTs but don’t know where to start? There is an idea that NFTs are “too expensive” for digital art. For some, there is uncertainty about its usefulness. This may explain why some may be on the fence about buying into NFTs. If so, you may want to try your hand at investing in NFT stocks to test the investment’s attractiveness. Take a look at the top NFT stocks to help you get started.
What does NFT mean?
NFT is an acronym for Non-Replaceable Symbols. These digital assets can be just about anything, including:
- digital or physical art
- Real estate
- Video game avatars
NFTs were first introduced in 2014 as the shift towards cryptocurrency opened the door to investing in digital assets. It is an increasingly popular investment option today. What sets them apart from other investment options is that each NFT is a unique component.
10 NFT stocks to invest in
Here’s a more in-depth look at each of the top 10 NFT stocks to check out right now.
1. Dolphin Entertainment (DLPN)
This development company deals with entertainment marketing and premium content. Its subsidiaries include:
- 42 West
- fire media
- The door and the beach
- creative point of view
Its focus on the digital sphere makes it a great stock for investors interested in NFTs, especially since it has a separate NFT section. It recently introduced its own NFT marketplace called FTX.US, making the brand a leader in NFT.
eBay makes the list as the most recognizable brand—and arguably a household name. eBay is a suitable investment option due to its expertise in e-commerce. As early as 2021, the company announced its ability to buy and sell NFTs on the eBay website.
eBay is taking this effort a step further by developing its own NFT technologies. One such NFT is a canvas made in partnership with Kayvon Thibodeaux, an Oregon Ducks soccer player. The fact that eBay continues to adapt to meet the demands of changing markets is impressive.
3. Cloudflare (NET)
This streaming service is a great investment option due to its commitment to inclusivity. When other streaming services ban creators who don’t meet their criteria, Cloudflare welcomes them with open arms. This includes NFTs .
Cloudflare is a pioneer in the SaaS industry because it connects people with brands on the platform. Cloudflare’s steady growth during the pandemic era is impressive, having gained more than 65% in price over the past year, and shows that the brand has long-term sustainability.
4. CyberMiles (CMT)
CyberMiles is a public blockchain platform. This was the first solution that allowed trade transactions for the DPOS consensus of the Ethereum public chain. Today’s CyberMiles platform serves as a guide for other blockchain platforms to work with. Within four years of the first NFT, CyberMiles was ready to support the buying, selling and trading of NFTs. It was also the first platform to host the NFT auction.
good to know
You need a cryptocurrency wallet in order to buy, sell or trade NFT. 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 to offer a robust NFT exchange. Today the platform is the first of its kind that allows creators to sell their digital art within a platform specifically designed for NFTs. The platform acts as a bridge between the digital and physical world of art and investment.
6. Twitter (@TWTR)
The social media platform is always looking for ways to stay relevant – especially when it comes to monetization. Twitter is now looking at ways to integrate NFTs into the platform. The first indication of the Twitter and NFT partnership was when founder Jack Dorsey sold his first-ever tweet for $2.5 million. While not all tweets will sell equally, the sale is proof that there is money in social media.
7. Funk (FNKO)
The brand is known for its trendy, big-headed toys. Various designs are really in high demand and are reselling hundreds if not thousands of dollars. Now the company presents the Digital Funko Pop! NFT art. Artwork packages start at $10, and some buyers will also get a coin for a physical game when they purchase.
8. Shopify Inc. (SHOP)
The e-commerce platform puts buying and selling in the hands of the consumer. When Shopify’s president, Harley Finkelstein, tweeted about the NFTs, the stock saw a 19% increase. The rally did not last, suggesting that the jump may have been due only to the news. However, the platform is really well designed to function as an NFT platform. When Shopify decides to enter the NFT marketplace, it will be in stock to watch.
9. Takung Art (TKAT)
This particular stock is an example of how the NFT craze can drive up a stock’s value — fast. Gained nearly 300% in value in a single day. Takung Art sells physical artwork, especially Asian artwork. It is unique in that it allows sharing of ownership of assets.
This means that multiple people can own a piece of art together, allowing more investors to enter the market. Although the company has not yet traded in NFTs, investors are ahead of the trend and hope Takung Art will make that leap soon.
This stock is neither making headlines nor causing waves in the stock market. The high-tech financial services company is headquartered in Shanghai. At the moment, Jiayin Group is not working with NFTs – yet. A series of tweets in December 2020 received a tip-off for investors who are now expecting to see a switch to NFTs soon.
Take the final
With the current momentum, it’s safe to say that the NFTs are not going anywhere. According to Nasdaq, NFT stocks are a great long-term investment option. It is just a matter of choosing the right stocks. Inevitably, the NFT will experience some volatility, similar to that of a cryptocurrency. But investors are hoping the overall upward trend will continue.
Frequently Asked Questions About NFT Stock
Here are answers to some of the most frequently asked questions about NFTs and investing in NFT stocks.
- How does NFT work?
- NFT is similar to cryptocurrencies in that it provides a way to buy and sell digital assets. An NFT can be just about anything someone wants to buy or sell. For example, distributing thousands of prints of the same piece of art would not qualify for NFT. The sale of a unique piece of art – digital or physical – qualifies for NFT.
- Are NFTs a Cryptocurrency?
- No, NFTs and cryptocurrencies are the same because they use blockchain technology. Both cryptocurrencies and NFTs are relatively new, but as blockchain technology expands, it will be easier for consumers to understand the difference between the two.
- What does irreplaceable mean?
- NFTs are considered “non-replaceable” because there is no standard value that applies to all NFTs. The physical money that we use in the global economy has a record value and even an exchange rate when trading currency for currency.
- What determines the value of the NFT?
- The value of an NFT is determined solely by the value an individual investor places on it. It is very similar to collector’s items. One person might not see any value in an old baseball card, while another would identify it as highly collectible.
Data is accurate as of January 11, 2022, and is subject to change.
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