As the NFT space soars in this early part of 2022, more people are wanting to get involved. However, different factors of the new industry can be off-putting to some. Not to mention the high entry price for the best-performing NFTs. And then it can be tricky entering the space as a newcomer. This is where buying NFT stocks in the stock market comes in.
At this time, many people find themselves straddling the fence on NFTs. They see the surging interest in the space but are hesitant to make the leap and buy one. If this describes you, you might want to consider looking to the traditional stock market for promising opportunities in NFTs. Luckily, you’ve come to just the right place.
Let’s talk about NFT stocks, and look at some of the most interesting options out there right now.
Why you might consider NFT stocks instead of, or in addition to NFTs
Firstly let’s define the phrase “NFT stocks”. For the sake of this article, these are publicly traded stocks in the market, for companies that are involved in NFTS in a meaningful way.
The phrase “NFT stocks” can seem like a bit of an oxymoron. After all NFTs, and the Web3 ecosystem they’re a part of, are so much about disruption. They represent groups of people playing in a sandbox outside of the establishment. Those forging a path into the unknown, aided by new technologies. In contrast, the stock market is, well, not that at all.
While this may be true, a lot of people still treat and talk about NFTs a lot like they do stocks. Indeed, there’s a shared language between the two. And in reality, there’s a ton of people with interest and investments in both.
Of course, the stock market is distinct in ways that might make a big difference for some. For example, the stock market is far more established. That may be the biggest turn-off for those that care about decentralization and other Web3 pillars. In truth, it presents a higher level of security to the non-crypto native majority.
By the same token, it could also appeal to those squeamish around the lack of clarity around regulation when it comes to NFTs and crypto.
Another key point is volatility. To be sure, the stock market can be incredibly volatile. But today’s NFT and crypto markets are a whole other ballgame.
With all of that said, let’s look at stocks from some of the major companies building in NFTs.
Note: Comments on the companies listed here are purely for educational purposes and are not financial advice. It’s important to do your due diligence before making any investments.
Companies To Watch For NFT Stocks
NFT Stocks for Companies with Marketplaces
Coinbase (Stock: COIN)
Coinbase rocked the NFT world when it announced that it would launch its own NFT marketplace. So much so, that it has become a badge of honor for the NFT projects it has chosen to trade on its platform at launch.
As the largest US-based exchange for crypto, Coinbase had already attracted Web3 believers when it went public last April. Now with Coinbase NFT coming up soon, it’s an even more interesting company to follow.
GameStop (GME)
The video game retailer has already seen some market movement due to its foray into NFTs. To explain, the de facto mascot stock of retail investors saw its price rise by over 30% last week. The increase was credited to GameStop announcing that it too would be launching an NFT marketplace.
Dolphin Entertainment (DLPN)
Dolphin is an entertainment and management company with big NFT plans in mind. To illustrate, the company has an entire division dedicated to NFTs. Not only that, it even released its own generative NFT collection, “Creature Chronicles: Exiled Aliens”.
Most important is the fact that the company partnered with the major cryptocurrency exchange FTX, to create an NFT marketplace. The platform focuses on NFTs from sports and entertainment brands.
eBay (EBAY)
eBay was one of the companies to survive and thrive beyond the internet boom and bubble of the late ’90s. As a result, eBay’s story is one that many NFT platforms today will hope to emulate. And today the company is innovating through NFTs.
Back in May 2021, eBay started allowing the sale of NFTs on its website. With its long history and name recognition, it could be an important player as NFTs further enter the mainstream.
NFT Stocks for Brands Heavily Invested in NFTs
Twitter (TWTR)
The social media giant needs no introduction. At the same time, you could hardly attribute the movement of its stock prices solely to NFTs. At any rate, the link between Twitter and NFTs is clear.
For one thing, Twitter is the primary home for the NFT community. In addition, the company has been working on an NFT verification feature. Once it launches, it is sure to increase the profile of NFTs on the platform.
Funko (FNKO)
Funko is one of the most recognizable names in collectibles. Given that, it comes as no surprise that it has been an early adopter of NFTs. To that end, the company released many NFT collections on the WAX blockchain.
Like the IRL Funko models, the NFTs feature characters from beloved pop culture franchises. What’s more the company also became the majority stakeholder of TokenWave last year. To explain, TokenWave is the developer of an app for tracking NFT holdings.
Mattel (MAT)
The toy company is another big name making moves in the NFT space. Its plays include a Hot Wheels collection and a partnership with the blue-chip NFT, VeeFriends.
Mattel’s latest drop is the entry of its Barbie brand into NFTs, as part of a collaboration with the luxury fashion house, Balmain.
NFT Stocks Likely to Grow Alongside NFTs
The NFT market exploded last year, with sales smashing previous records. The industry will almost certainly continue to grab attention throughout 2022. Without a doubt, big business is taking note and investing in the space.
As a matter of fact, the major stock exchange operator NASDAQ has itself published a number of articles projecting major growth in the NFT space.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
