NFT Stocks to Buy – Table of Contents
Non-fungible tokens (NFTs) are becoming popular every day. According to a recent report by digital analytics company DappRadar, NFT sales increased to $2.5 billion in the first half of 2021. With this tremendous growth in mind, many investors are trying to get a share of this market. But which are the best NFT stocks to buy?
As revealed in the same report, NFT sales hit $94 million in 2020. However, many investors are now eager to navigate this new market by focusing on the best NFT stocks. With several companies investing in the NFT market, knowing the right NFT stocks to buy is still a challenge.
In this article, we’ll help you discover the best NFT stocks to buy. Not every NFT stock out there is a suitable venture for investment. There are specific companies that have contributed to the popularity of NFTs and made them attractive to investors. But first, you need to learn more about NFTs.
What Is NFT Stock?
In the financial world, NFT refers to ‘Non-fungible token.’ These tokens are used to guarantee and secure ownership of a unique digital asset, which could be a piece of art, an item in a video game, or a musical composition. The NFT tokens operate on the blockchain, similar to Bitcoin and other cryptocurrencies.
However, most NFTs are based on the Ethereum network even though others also operate on different blockchains like Solana and Polkadot. These digital tokens are similar to some form of a virtual certificate that shows proof of ownership for a particular digital asset or a piece of art.
Additionally, NFTs can also guarantee ownership of certain physical assets, including properties, collectibles, or a piece of physical art. In this article, you’ll discover the best NFT tokens to buy even as you find the best NFT stocks to buy.
How to Choose the Best NFT Stocks to Buy
As mentioned earlier in this article, not every NFT stock out there is a worthwhile investment opportunity. The following tips could help you identify the best NFT stocks currently available on the market:
1. Invest in NFTs That You Like
While you’re looking for the best NFT stocks to buy, you should focus on the projects that spark your interest. This means you’ll invest in something that you enjoy and something that suits your interests as an individual.
2. Do Your Research
With numerous NFT projects on the market, how can you identify the best NFT stocks to buy without conducting little research? Once you pick an NFT project, you should proceed to learn more about that specific project. In addition to reading the “reviews” about the project, you need to know its creators, its community, and its brand.
Non-fungible tokens represent actual people. So, you need to know the individual behind your preferred project. Investing in such projects is similar to betting on your favorite sport’s team, believing in the player’s ability to deliver. When looking for the best NFT tokens to buy, look at the past performance of the creator, their social status, and the ability to build and maintain brand awareness.
We also recommend: Best Cryptocurrency News Apps to Download.
Where You Can Keep Your NFTs
NFTs are precious investments, and when it comes to storing them, you need a secure location. Especially if you intend to hold onto your investment, you should ensure that your NFTs remain in secure storage like your digital crypto wallet with a 12-word seed phrase, a strong password, and other security protocols.
For the best security of your NFTs, you should consider keeping your investment in a cold storage hardware wallet. You have various options to consider for storing your NFTs. The best ones include Software Wallets such as Metamask, InterPlanetary File System, and Cold Storage Hardware wallets like Trezor and Ledger.
List of the Best NFT Stocks to Buy
After careful research on what is currently available on the market, here are the best NFT stocks to buy:
1. Cryptopunks
CryptoPunks is among the pioneer NFT projects launched on the Ethereum network. The project includes 10,000 characters that feature random attributes of a person wearing a hat or smoking a pipe. These portraits are generated using a special algorithm, which ensures that each character is unique and be owned by an individual on the Ethereum blockchain.
2. PLBY GROUP
PLBY Group is another project to consider if you’re looking for the best NFT stocks to buy. The California-based firm focuses on marketing pleasure and leisure services. Currently, the company has a market cap of more than a billion dollars. Many companies today are partnering with PLBY Group, including 13 hedge funds.
3. Dolphin Entertainment Inc.
Dolphin focuses on marketing entertainment and premium content services. The Florida-based company currently has a market cap of nearly $76 million. In 2020, it posted $24 million in revenue. In March this year, Dolphin partnered with Hall of Fame Resort & Entertainment to venture into NFTs.
4. Shopify (SHOP)
Shopify is an e-commerce platform that allows merchants across the world to build an online presence. It helps individuals achieve independence by making it easier to start, manage, and grow a business. The company believes the future of commerce has to do with more voices, not fewer. The company is making this possible by reducing the barriers to business owners to make business better for everyone.
5. eBay Inc
eBay is among the pioneer online marketplaces. Currently, the company has ventured into NFTs as well by allowing the sale of some non-fungible tokens on its traditional online platform. eBay is taking a different approach to NFTs by focusing on dollar sales instead of cryptocurrencies, as used in most NFT transactions. Currently, the company connects millions of buyers and sellers in close to 200 markets around the world.
6. Mattel, Inc.,
Mattel, Inc., is based in California. The company focuses on making and selling toys and other consumer products. Founded in 1945, the company currently boasts a market cap of more than 7.6 billion. In June 2021, Mattel, Inc announced its intention to venture into NFTs. So far, the company has beaten market expectations when it comes to earnings per share and revenue.
7. Cloudflare, Inc.,
This company is among the best options for anyone looking for the best NFT stocks to buy. Cloudflare operates a cloud platform that provides enterprise solutions. With its head office in California, the company has a market cap of more than $37 million. In 2020, it posted more than $430 million in revenue. Its platform for video sharing, Cloudflare Stream, currently supports NFTs.
8. HASH LAND
This company offers a gaming platform with several assets. It offers NFT tokens with both BTC hashrate and HC (the platform’s base currency) hashrate. The company embraces a card upgrade mechanism—the higher the NFT card level, the greater the hashrate. It’s one of the platforms to consider when looking for the best NFT stocks to buy.
9. DEFIANCE’s NFTZ
A relatively newer platform, this platform was launched in the last week of November 2021. NFTZ believes the virtual sky is the limit for NFTs as well as the blockchain-powered marketplace. The platform is an NFT with relevant thematic exposure to a wide range of NFT stocks. This makes it one of the avenues to consider when shopping for the best NFT stocks to buy.
10. Robinhood Markets Ltd
Robinhood offers commission-free investing and the tools you need to set your money in motion. The company believes that the financial system should work for everyone. It creates products that allow individuals to start investing at their own pace, on their own terms. Users get their first stock free upon signing up.
NFT Stocks to Buy – Final Thoughts
Despite some challenges, the market for non-fungible tokens (NFTs) appears to be thriving. The concept came to life in 2021, and so far, the monthly sales volume of NFTs has reached $2.6 billion, according to NonFungible.com, a trading site. This growth is attracting more investors every day. To get started with the best NFTs, this list could be helpful.
Featured image: www.aljazeera.com
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