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Best NFT Stocks - What Are They and Are They Worth It?
NFTs can be pretty expensive – this isn’t a secret. For beginners or those without much capital, maybe investing in something such as NFT stocks to begin with. NFTs, or non-fungible tokens, represent ownership of a digital asset. This could be collectibles, digital art, photographs and even virtual land. Not too sure where to start? That’s okay, because we have the best NFT stocks to buy down below.
What Are NFTs and NFT Stocks?
Let’s start with the obvious question some newbies may have – what exactly are NFTs and NFT stocks?
NFTs are assets but they are usually digital. It is coded onto a blockchain and has proof of ownership so it cannot be duplicated, copied or corrupted. Images are one of the most common forms of these digital assets and these tokens are available for purchase on an NFT marketplace. An NFT marketplace called OpenSea is the largest and most popular one.
As for an NFT stock, things operate a little differently. Instead of buying an NFT or a fraction of a digital asset, the NFT stock gives you a share of a company that is involved in NFTs in some way or another. There aren’t a lot as of now, but the NFT space and blockchain technology expands, we also predict continued growth in this arena.
Is it Worth Investing in NFTs?
The answer to this question is a very divided one. You have people on one side that are a little less eager to embrace something that doesn’t seem to be rooted in reality as NFTs are mostly digital. However, there are people on the other side that believe this is the future. Of course, there are individuals in between both schools of thought.
We can’t predict the future, but we do believe NFTs are of interest. The last time we saw a huge surge in its value was with Bitcoin. You wouldn’t want to miss out on something like that if it happens again, would you?
It can make you a profit if you manage to sell NFTs for more than the price you paid, or find a collector that just really appreciates NFT art. As for NFT stocks, well, they are a great way to get exposure to the space without investing heavily in an NFT collection.
Top NFT Stocks to Invest In
If NFT stocks sound appealing, here are the top NFT stocks to watch.
Dolphin Entertainment is first and foremost a digital marketing and publicity company focusing on social media marketing, entertainment services, entertainment marketing and influencer marketing. Now, however, the company has also dipped its toes into the NFT stock market.
In collaboration with FTX, a robust crypto exchange, the two companies have launched an NFT marketplace dedicated to major sports and many entertainment brands. Dolphin Entertainment also has a few other NFT partnership deals in the works that deal with NFT project leaders.
We’re pretty sure most people are familiar with eBay, a popular ecommerce platform that has made a name for itself over the years. People would frequent eBay to purchase items new and used, but now it has become an NFT market as well. The platform now supports NFT trades. Aside from that, eBay also allows blockchain-based digital collectibles.
EBay will later expand in the crypto NFT space to allow users to pay using cryptocurrency.
Cloudflare is a digital security company that is one of the most established out there. Among Cloudflare’s many services, the company will now also support a streaming service, storing and publishing of NFTs. NFT collectors can now diversify their investments with Cloudflare stock.
Does Funko sound familiar? You’d be right to associate it with the cute and adorable Funko Pops. Now you can get digital Funko Pop packs! The cute cartoon versions of various characters can come in the form of plushies and merch. The company launched a marketplace that deals in rare NFTs and offers NFT drops.
Takung Art specializes in shared ownership of fine art from Asia. You can find things such as rare gems to paintings. Takung Art will launch its own NFT marketplace, and offer guidance and consultation for companies interested in releasing their own NFTs. Takung Art is also very special because it supports shared asset ownership, meaning many people can own a piece of one artwork, like fractional shares.
Yes, we mean the toy company. The company actually launched its own NFT collection in 2021, a collection of NFTs for the hot wheels toys and it sold out! Then there was a second mint for the hot wheels cars and then a later collaboration with luxury fashion brand Balmain to release special Barbie and Ken NFTs.
If you are into crypto at all, then you must have heard of Coinbase. It is a crypto marketplace and a very dedicated platform for blockchain technology and NFTs. Users can even create, collect, trade and show off their NFT collections.
Chinese Fintech company Jiayin hasn’t completely dived into the NFT world just yet, but there have been some spoiler tweets that have been issued in 2020 that hinted at a major shift towards the NFT market. If you want to get in on the ground floor, grab some Jiayin stock now.
We weren’t really surprised to find out that one of the best NFT stocks to buy is Shopify INC. As one of the most popular ecommerce platform choices out there, it has not only launched its own NFT trading platform, but Shopify included everything from minting to listing. Users can transact in fiat or crypto through Shopify’s own marketplace.
The large ecommerce platform puts buying NFTs in the hands of the Shopify consumer, which has a level of autonomy.
Sino-Global is producing a robust NFT exchange by partnering with CyberMiles. Collectors and creators can use this platform to sell their digital art ad the company is looking to cross over the ocean into New Jersey, working with a New Jersey internet data center to expand its crypto footprint.
Liquid Media, a business solutions company based in Vancouver, British Columbia, launched its own NFT platform entitled NFTainment.io, where uses can discuss, buy and sell NFTs. They are involved in the NFT space through the release of NFTainment.io in early 2022.
If you’re into basketball and sports betting, then you definitely know DraftKings, a platform specifically designed for the sports gambler. It’s really no surprise that the platform is now in the NFT space after the success of NBA Top Shot. DraftKings now also sells exclusive NFTs on its platform and helps with celebrity NFT drops.
Similar to Takung Art, Oriental Culture Holding is also a company that specializes in ecommerce art dealings. How as this company stepped into NFTs? Oriental Culture Holding now allows its client base to create, mint, trade, auction and sell digital assets through its platform.
ZK International group is no newbie to the NFT market. While it isn’t an NFT company, ZK International builds smart contracts for blockchains, distributes ledgers and more. The Chinese company also looks to help facilitate launches and support NFT leaders, influencers and creators.
We’re not going to lie, CurrencyWorks is definitely on our personal list of best NFT stocks to buy because of its nature. The company isn’t like other NFT businesses and is actually looking to help integrate blockchain systems into existing companies. We feel that doing so will really propel the future of crypto and NFTs forward.
Aside from that, CurrencyWorks also has a platform for feature film NFTs and one for automotive assets.
If you read between the letters you can sort of make out that PLBY stands for PlayBoy, and yes, the company owns the brand. Playboy has a few NFTs under its belt such as the Rabbitar collection and the Liquid Summer dropped in 2021.
Is it surprising that the streetwear sporting wear brand Nike has made its way to NFTs? The sneaker giant will start to make NFTs out of their prominent designs. While there will be both virtual and physical products of the shoes, the sneakers are purchased in the physical world and the sneaker NFTs are available in digital stores in metaverses.
Twitter, one of the homes to large congregations of NFT supporters rounds out our list for the best NFT stocks to buy. The NFT leader, like Facebook, is allowing NFT collectors to display their digital tokens proudly as their NFT profile pictures from their connected digital wallet.
The social media platform further strengthened its parterhip with the NFT world after founder Jack Dorsey sold his first tweet as a non-fungible token for 2.5 million. We’re excited to see what other elements of integration they will come up with.
What NFT Stocks Have in Common
• Influence in the NFT Industry
NFT stocks are usually of companies that have some influence in the NFT industry. So, owning stocks of these companies will give you some stake in the future of NFTs.
• Market Performance
Owning NFT stocks can help companies hopefully help crypto and NFTs come out of this winter and develop new innovations.
• Balance Sheet
There are things you can access or the company should provide in order to prove the worth of its stocks and one of them is a balance sheet. A balance sheet is basically a company’s financial report.
• Shares
Owning stocks gets you shares of a company, which then could give you certain rights, ie. voting rights.
• Dividends
Depending on what NFT stocks you purchase, those stocks may produce dividends, which is a payout at a percentage of the company’s profits. This is also what can be viewed as passive income.
Penny Stocks
There are some low-priced NFT stocks you can purchase that are called penny stocks, but the problem is they come at a higher risk. If you’re interested, Takung Art and Dolphin Entertainment are good places to start.
Where Can I Buy NFT Stocks
NFT marketplaces offer NFTs, so where do we purchase NFT stock? You need an account with a stock broker that also has these stocks in their repertoire. EToro is an excellent example of such a brokerage.
You can find many of our NFT businesses we listed above available for purchase on the eToro platform. You would need to open an account with them, verify your identity, deposit funds and get to browsing. EToro offers a range of payment methods so it won’t be tough to find one that suits you.
If a whole stock is too expensive, you can opt for fractional shares, which eToro supports. Remember that none of this is investment advice and the digital realm is one that remains to be fully explored. Seek an investment professional for expert advice.
FAQ
• Is Bitcoin considered an ETF?
Bitcoin has its own ETFs, or exchange-traded funds, that consist of bitcoin-related assets in one profile. You can find these on tradtioinal exchanges or eToro and can be traded as regular ETFs. Bitcoin has proven that crypto has its value, but whether or not it is a good idea as a long-term hold remains to be seen.
• What factors determine an NFT’s value?
LIke many luxury assets, or assets in general, the value is deemed by what investors are willing to pay and the demand people have for the item. For example, a person who is not interested in sports at all will not be willing to pay a lot of money for a limited collectible like a sports fanatic would.
Conclusion
The best places to make NFT sales are NFT marketplaces, and the best NFT stocks are found on exchanges. There is no doubt that collectibles in the digital and physical world are highly sought after and NFT companies are taking notice of this. Some are expanding their operations toencompass a separate NFT division and others are simply adopting an extra platform to trade NFTs. Whatever it is, we’re excited to see what established companies bring to the table in the NFT world.
