Oct 15, 2023

NFT Investment Opportunities

NFT investment opportunities

Non-fungible tokens (NFTs) are gaining popularity as more and more people become interested in digital collectibles. NFT art, in particular, has captured the attention of crypto enthusiasts and investors alike. However, navigating the NFT market can be challenging, which is why many investors are now looking for NFT stocks to buy. In this article, we will explore the best NFT stocks to watch and buy in 2023. But first, let’s delve into what NFTs are and how they work.

What are NFTs and NFT Stocks?

NFT stands for Non-Fungible Token. These tokens are used to represent ownership of a unique digital asset, such as a piece of art, a video game item, a concert ticket, or a musical composition. NFTs operate on the blockchain, similar to cryptocurrencies like Bitcoin. NFT stocks, on the other hand, refer to companies that invest in the NFT market.

Most NFTs are based on the Ethereum network, but there are also digital artworks that operate on different blockchains like Solana and Polkadot. These digital tokens serve as virtual certificates of ownership for specific digital or physical assets.

NFTs can be purchased on specialized NFT marketplaces like OpenSea or Rarible. Additionally, new users can enter the NFT industry by participating in NFT airdrops and giveaways, which are special events organized by newly launched projects. During these events, crypto projects offer part of their NFT collections for free to random users or those who complete simple tasks.

How to Choose the Best NFT Stocks to Buy

Not all NFT stocks are worth investing in. Here are some tips to help you identify the top NFT stocks currently available on the market:

1. Invest in Something You Like

When looking for the best NFT stocks to buy, focus on projects that align with your interests and preferences. By investing in something you enjoy, you are more likely to stay engaged and committed to the investment.

2. Do Your Research

With numerous NFT projects on the market, it’s crucial to conduct thorough research before investing. Once you identify an NFT project that interests you, learn more about it. Read reviews, understand the creators behind the project, and assess the community and brand. Investing in NFT stocks is similar to betting on your favorite sports team – you need to believe in the creators’ ability to deliver.

3. Securely Store Your NFTs

NFTs are valuable investments, and it’s important to store them securely. If you plan to hold onto your NFTs, consider storing them in a secure digital crypto wallet with a 12-word seed phrase, a strong password, and other security protocols. Cold storage hardware wallets like Trezor and Ledger are excellent options for keeping your NFTs safe.

Now that we understand the basics of NFTs and how to choose the best NFT stocks, let’s explore the top NFT stocks to watch and buy in 2023.

List of the Best NFT Stocks to Buy

After careful research, we have compiled a list of the best NFT stocks to buy:

1. Visa Inc. (NYSE: V)

  • Headquarters: San Francisco, California, United States
  • Revenue: $8.12 billion (Q2 2023)
  • Market Cap: $492.27 billion
  • Average Volume: 7.96 million
  • YTD: 17.09%
  • Price: $241.86 (September 20, 2023)
  • Number of Hedge Fund Holders: 699

Visa Inc. is a leading global payments technology company that connects consumers, businesses, financial institutions, and governments across 200+ countries and territories. The company has shown interest in the NFT world by introducing the Visa Creator Program, empowering digital creators to leverage NFTs and enhance their small businesses. Visa also made headlines in 2021 when it acquired an NFT valued at $150,000, signaling its interest in exploring the world of non-fungible tokens.

2. eBay Inc. (NASDAQ: EBAY)

  • Headquarters: San Jose, California, United States
  • Revenue: $2.54 billion (Q2 2023)
  • Market Cap: $23.25 billion
  • Average Volume: 5.3 million
  • YTD: 7.18%
  • Price: $43.69 (September 20, 2023)
  • Number of Hedge Fund Holders: 255

eBay is one of the pioneer online marketplaces, founded in 1995. The company has ventured into the NFT market by allowing the sale of some Non-Fungible Tokens on its traditional online platform since May 2021. eBay takes a different approach to NFTs by focusing on dollar sales instead of cryptocurrencies. In addition, the company acquired KnownOrigin, a prominent NFT marketplace, in 2021, further solidifying its position in the NFT market.

3. Cloudflare Inc. (NYSE: NET)

  • Headquarters: San Francisco, California, United States
  • Revenue: $308.49 million (Q2 2023)
  • Market Cap: $20.06 billion
  • Average Volume: 5.71 million
  • YTD: 32.74%
  • Price: $43.69 (September 20, 2023)
  • Number of Hedge Fund Holders: 185

Cloudflare operates a cloud platform that provides enterprise solutions, offering services to enhance the security and performance of websites and online services. The company offers Cloudflare Stream, a platform for video sharing that supports NFTs. By integrating Ethereum’s ERC-721 protocol, each video can be represented as an NFT, allowing video owners to sell their content as NFTs and receive royalty payments each time their videos are resold.

4. Shopify (NYSE: SHOP)

  • Headquarters: Ottawa, Ontario, Canada
  • Revenue: $1.69 billion (Q1 2023)
  • Market Cap: $73.06 billion
  • Average Volume: 2.32 million
  • YTD: 64.13%
  • Price: $56.97 (September 21, 2023)
  • Number of Hedge Fund Holders: 314

Shopify is an e-commerce platform that allows merchants worldwide to build an online presence and start, manage, and grow their online businesses. While Shopify is currently beta testing an NFT program to enable merchants to sell NFTs from their stores, its position as the leading e-commerce platform remains strong. Investing in Shopify offers exposure to the NFT market while benefiting from the company’s overall growth and success.

5. Mattel Inc. (NASDAQ: MAT)

  • Headquarters: El Segundo, California, United States
  • Revenue: $1.09 billion (Q2 2023)
  • Market Cap: $7.58 billion
  • Average Volume: 3.41 million
  • YTD: 19.96%
  • Price: $21.40 (September 20, 2023)
  • Number of Hedge Fund Holders: 94

Mattel Inc. is a multinational toy manufacturing company known for its iconic brands such as Barbie, Hot Wheels, Fisher-Price, and UNO. The company has ventured into the world of NFTs by introducing an NFT marketplace on its collector and direct-to-consumer platform, Mattel Creations. Through this platform, toy enthusiasts and collectors can purchase unique digital collectibles. Mattel plans to launch a peer-to-peer trading feature later this year, allowing collectors to engage with and trade their NFTs within the community.

6. DraftKings (NASDAQ: DKNG)

  • Headquarters: Boston, Massachusetts, United States
  • Revenue: $874.93 million (Q2 2023)
  • Market Cap: $13.96 billion
  • Average Volume: $11.97 million
  • YTD: 164.09%
  • Price: $30.08 (September 21, 2023)
  • Number of Hedge Fund Holders: 195

DraftKings is a prominent American company that offers fantasy sports contests and sports betting platforms. The company has ventured into the world of NFTs through its collaboration with Autograph, launching a marketplace where exclusive NFTs are sold and NFT drops featuring renowned celebrities occur. DraftKings’ NFT marketplace showcases NFTs from notable athletes and personalities, providing fans with unique digital collectibles and memorable experiences.

7. Coinbase Global Inc. (NASDAQ: COIN)

  • Headquarters: San Francisco, California, United States
  • Revenue: $662.5 million (Q2 2023)
  • Market Cap: $18.18 billion
  • Average Volume: 11.51 million
  • YTD: 116.64%
  • Price: $76.67 (July 17, 2023)
  • Number of Hedge Fund Holders: 200

Coinbase is a renowned online trading platform in the cryptocurrency industry. The company operates one of the largest trading platforms, facilitating seamless fiat-to-crypto and crypto-to-crypto transactions. Coinbase also has a vibrant marketplace where users can explore, create, showcase, and trade NFTs.

8. Funko (NASDAQ: FNKO)

  • Headquarters: Everett, Washington, United States
  • Revenue: $1.19 billion (Q2 2023)
  • Market Cap: $381.77 million
  • Average Volume: $959,902
  • YTD: -33.46%
  • Price: $7.26 (September 20, 2023)
  • Number of Hedge Fund Holders: 46

Funko is a pop culture consumer products company known for creating and selling licensed collectible toys, figurines, and merchandise. The company offers its Funko Digital Pop platform, an NFT marketplace for acquiring exclusive and rare NFT collectibles. Users can access the latest limited edition NFT collectibles featuring Funko’s signature stylized figures through an account on the platform.

9. PLBY Group (NASDAQ: PLBY)

  • Headquarters: Los Angeles, California, United States
  • Revenue: $35.1 million (Q2 2023)
  • Market Cap: $76.84 million
  • Average Volume: 723,023
  • YTD: -62.18%
  • Price: $1.04 (September 20, 2023)
  • Number of Hedge Fund Holders: 33

PLBY Group, formerly Playboy Enterprises, is a global media and lifestyle company known for its luxury and iconic branding. The company has ventured into NFTs with its Rabbitar series and plans to bridge the gap between the past and the future by tapping into its roster of contemporary artists, historical archives, and insights from the crypto community. PLBY Group offers unique NFT projects that cater to the evolving interests of collectors.

10. Takung Art (NYSEAMERICAN: TKAT)

  • Headquarters: Hong Kong
  • Revenue: $574,780 (Q2 2023)
  • Market Cap: $6.62 million
  • Average Volume: $968,027
  • YTD: -63.64%
  • Price: $0.1997 (September 15, 2023)
  • Number of Hedge Fund Holders: 5

Takung Art specializes in selling physical Asian artwork and offers a unique feature of shared asset ownership. The company launched its own NFT trading platform, NFTOEO, in 2022. Despite facing a loss on Ethereum from NFT sales, Takung Art recognizes the importance of embracing cryptocurrency and digital assets for future growth. Investing in Takung Art offers exposure to the NFT market and potential opportunities as the market matures.

Conclusion

Investing in NFT stocks can be a lucrative opportunity for those looking to capitalize on the growing popularity of NFTs. By choosing established companies with a foothold in the NFT market, conducting thorough research, and diversifying investments, investors can navigate the volatility and uncertainties associated with this emerging market. However, it’s important to exercise caution and seek professional advice when making investment decisions.