Are You Curious about NFT Stocks That Should Watch Now? Maybe you don’t know where to begin when considering investing in NFTs. They sometimes get criticized as too expensive or lacking utility, which could be why some people hesitate investing. If this applies to you, why not start investing now by purchasing some NFT shares first?
Here are the top NFT stocks to help you with your investment decision.
What Does NFT Stand For?
A Non-Fungible Token (or NFT) is a type of digital asset that can represent ownership over almost anything. Examples include:
Tweets, real estate, and video game characters.
When cryptocurrencies provided investment possibilities in digital assets, NFTs first appeared in 2014. Due to their distinctive identities, NFTs continue to be a well-liked investment option.
10 NFT Stocks You Should Buy If you think NFTs are a fascinating idea, investing in NFT stocks can be a good decision. Shares in companies engaged in the manufacture, sale, and advancement of NFT technology are available to investors. This is a list of the top 10 NFT equities that are currently trading.
1. Dolphin Entertainment, DLPN
This development firm specializes in entertainment marketing and premium content production. It has subsidiaries such as 42West Media, The Door Media Group, Viewpoint Creative, Shore Fire Media Media and Shore Fire Media Productions.
If you’re considering NFTs, Creature Chronos is an excellent collection that sold quickly.
Dolphin reported a slight year-over-year growth in their revenue for the third quarter of 2022, despite having lost money the prior quarter and feeling the effects of FTX’s collapse like other partners. Analysts forecast Dolphin will become profitable by 2023 despite having lost money this past quarter.
2. eBay (EBAY)
eBay is an iconic global brand, well-known for its expertise in online commerce. As such, it has become a sought-after investment choice among many.
eBay will make it possible for customers to buy and trade NFTs starting in May 2021. In June, eBay announced their acquisition of KnownOrigin, a premier NFT marketplace, cementing itself as the go-to destination for collectors.
eBay is also developing its own Nano Financing Technologies (NFTs). One example of this is a canvas designed with Oregon Ducks player Kayvon Thibodeaux in collaboration.
Yahoo Finance currently reports the consensus is “buy”. While analysts may disagree with this assessment, some believe the slow pace of stock price growth is due to consumers returning to their pre-pandemic shopping habits. Bloomberg notes eBay recently introduced authenticity guarantees and other changes such as advertising and payments which could boost revenue this year; these developments were also included on the stock watchlist for 2023.
3. Cloudflare (NET)
As this streaming business is a market leader in the $152 billion software-as-a-service sector and isn’t technically an NFT firm, it may make for an appealing investment.
With the OpenSea platform, video producers may generate NFTs utilizing the Cloudflare Stream platform. Once generated, customers may instantly connect contact information and token IDs to their videos. With Q1 sales statistics and profit predictions above analyst expectations, the firm has seen excellent growth in the acquisition of significant clients.
4. McDonald’s (MCD)
McDonald’s may not be the first company that comes to mind when discussing NFT stock, but it has a stake in this metaverse. As of 2022, 10 trademark requests submitted by the fast food giant have yet to be approved.
McDonald’s has filed for patent protection on a virtual McDonald’s restaurant, featuring both physical and virtual products, entertainment such as online concerts, and downloadable multimedia files.
McDonald’s is an intriguing inclusion in this roundup due to its involvement with both NFTs and the metaverse. Furthermore, McDonald’s serves as a reliable bluechip stock and Dividend aristocrat – providing it with an appropriate counterbalance to some of these riskier stocks. McDonald’s makes for an interesting contrast when considering other potential investments.
5. Mattel Inc. (MAT)
With iconic brands like Barbie and Hot Wheels, Mattel was well positioned to explore NFTs. Recently, the company opened an NFT marketplace for collectors and direct-to-consumers alike.
On December 22, 2022, Mattel Creations unveiled Series 4 in their NFT Garage collection. New collections such as Monster High and Masters of the Universe were released throughout January. Additionally, purchasing through Mattel Creations Digital Collectible Marketplace does not require any cryptocurrency; rather, Mattel’s peer network will enable collectors to trade and exchange their NFTs.
Mattel stock is currently an attractive value with a PE ratio of 12.38. The 12-month price target for Mattel stock was approximately 30% lower than its current level ($18.31).
6. Nvidia NVDA
Nvidia is well known for its graphics and data solutions. But recently the company has been expanding into the non-volatile memory (NFT) sector. At last year’s SIGGRAPH Computer-Graphics Conference, Nvidia unveiled several metaverse projects such as neural graphics, cloud engines for avatars, and an updated Omniverse platform that allows developers and designers to launch metaverse software using Pixar Animation Studios’ framework.
Nvidia’s PhysX simulator technology and RTX Renderer form part of the Omniverse, both free to individual creators.
7. Funko
Funko is renowned for their large character toys with large heads. Many designs sell at auctions for hundreds of dollars to thousands. Recently, the brand introduced Digital Pop NFT Art into their lineup; packs start at $10 and some buyers even receive a coin to redeem for an actual doll.
Funko shares took a substantial hit after the company reduced its earnings per-share guidance for this year. This caused some investment companies to downgrade their recommendations; however, analysts remain bullish on the stock and believe it is undervalued. If these predictions prove correct, investors who purchase now and keep investing could reap the rewards of their patience. As of Feb. 10, 2010, this stock is trading at 10.33 USD as of Feb 10th 2010. Yahoo Finance has assigned this stock a price target of $12.63 over one year from now.
8. Shopify
Shopify provides an online platform that enables consumers to purchase and sell online. They give consumers full control over the purchases they make through Shopify’s system.
Shopify is currently testing an NFT program that will enable merchants to sell NFTs directly in their stores. As the most popular e-commerce platform, expect stock prices to continue increasing gradually until 2020.
Shopify stock has experienced a severe downturn between September 2022 and November 2021, with most of its market value lost during that period. According to Tobi Lutke CEO’s July 2022 post, this decline stems from an incorrect assumption that pandemic-driven increases in ecommerce revenue were permanent changes.
Analysts anticipate that the changes implemented since then, such as a 10% staff loss and Jeff Hoffmeister’s appointment as CFO — former head of technology investment banking at Morgan Stanley — could bring about an improvement within the next couple of years. The stock has seen a 42% rise in value since September 2022.
9. Takung Art (TKAT)
Takung Art has made a name for itself with their physical artwork, particularly Asian art. Their shared asset ownership model allows multiple people to own one piece, spurring more buyers into the market.
Takung Art launched its NFT trading platform, NFTOEO (NFT trading platform), in April 2022. While NFT marketplaces may not yet reach their full potential for profit, stocks like Takung Arts – trading at $1.03 an share as of February 10th – could benefit from this development.
10. Jiayin Group JFIN
Jiayin Group doesn’t usually make headlines nor cause much movement on the stock market. The Shanghai-based hightech financial services company has yet to venture into NFTs, though a series of tweets published in December 2020 hinted at this possibility.
On February 10th, Jiayin experienced a brief surge in share prices due to speculation that NFTs could take off. Although no official announcements had been made yet, its digital arts capabilities have been demonstrated and could easily transition into NFTs when ready. Meanwhile, Jiayin continues to experience steady yet consistent growth in earnings and profits during this period.
Final Analysis
It looks that NFT stability has lasted for some time. To get exposure, it would seem prudent to invest in McDonald’s, eBay, or McDonald’s.
Here are the most frequently asked questions regarding NFTs.
What is an NFT Function?
NFTs run similarly to cryptocurrencies. They provide a platform that enables the buying and selling of digital assets. Everything that anybody chooses to buy or exchange might be considered an NFT as long as each item has its own distinct identity.
Are NFTs Cryptocurrencies?
No. Both NFTs and cryptocurrency rely on blockchain technology for their operation. NFTs differ from cryptocurrency in that they have their own unique address; however, cryptocurrency itself is fungible – meaning any bitcoin can be exchanged for another with no loss in value.
What does “non-fungible” mean?
Nonfungible refers to an item that does not have a fixed price. Nonfungible tokens (NFTs) cannot be considered money since they lack universal value. On the other hand, physical money in circulation around the world is considered fungible since it has value and can even be converted into different currencies.
What determines the value of an NFT?
Investors ultimately decide how much value to assign an NFT. It works much like collector’s pieces: one person may not see anything special about an antique baseball card, while another finds it highly sought-after.
What Exactly is an NFT Stock?
An NFT share is a security that grants you ownership in part of an NFT company. This could include operating an exchange or building the hardware or software necessary for production.
What NFT stock is the Best?
Which NFT stock you select depends on your investment objectives, risk tolerance level and budget.
Jiayin Group could be an attractive investment option for those seeking to invest in NFT stocks, even if it is highly speculative. At only $4 per share, Nvidia could be an appropriate option for serious investors looking to invest in NFT-related businesses. McDonald’s on the other hand would provide greater security over a longer time horizon.
