Non-fungible tokens (NFTs) have taken the world by storm, and the market for NFTs has exploded in recent years. NFTs are unique digital assets that are stored on a blockchain, and they have gained popularity due to their ability to represent ownership of digital art, music, and other creative works. As a result, NFTs have created a new market for investors to explore, and there are several NFT-related stocks that are worth keeping an eye on. In this article, we will discuss some of the best NFT stocks to watch right now.
Coinbase Global Inc (COIN)
Coinbase is a popular cryptocurrency exchange that went public in April 2021. The company allows users to buy, sell, and store cryptocurrencies, including Ethereum, which is the blockchain that many NFTs are built on. Coinbase’s stock price has been volatile since its IPO, but it is worth keeping an eye on as the NFT market continues to grow.
Square Inc (SQ)
Square is a financial services and mobile payment company that has been expanding into the cryptocurrency space. In 2020, Square purchased $50 million worth of Bitcoin, and the company’s Cash App allows users to buy and sell Bitcoin. Square’s CEO, Jack Dorsey, is also a big believer in the potential of NFTs, and the company has announced plans to build a platform for creators to sell NFTs.
Nvidia Corporation (NVDA)
Nvidia is a semiconductor company that produces graphics processing units (GPUs), which are essential for mining cryptocurrencies and creating Nft Crypto io. As the demand for NFTs continues to grow, the demand for GPUs is also increasing, which could lead to increased sales for Nvidia.
Sotheby’s is a well-known auction house that has been selling art and other valuable items for centuries. In recent years, the company has also started auctioning off NFTs. In March 2021, Sotheby’s sold a digital artwork by Beeple for $69 million, making it one of the most expensive NFTs ever sold. As NFTs continue to gain popularity, Sotheby’s could see increased demand for its services.
Takung Art Co Ltd (TKAT)
Takung Art is a Hong Kong-based company that operates an online trading platform for artwork and other collectibles, including NFTs. The company’s platform allows users to buy and sell digital assets, and Takung Art takes a commission on each transaction. The company has seen its stock price rise in recent months, as the demand for NFTs has grown.
eBay Inc (EBAY)
eBay is an e-commerce platform that allows users to buy and sell goods, including NFTs. While eBay has been around for a while, the company has recently announced plans to explore the NFT market. In May 2021, eBay CEO Jamie Iannone said that the company is “exploring opportunities” in the NFT space and is “looking at ways to get into the game.”
Dapper Labs is a Canadian-based company that created the blockchain-based game CryptoKitties, which was one of the first NFT projects to gain mainstream attention. Since then, Dapper Labs has launched several other blockchain-based games and has partnered with several major sports leagues to create NFTs. The company has raised over $350 million in funding and is valued at over $7.5 billion.
In conclusion, the NFT market is still in its early stages, but it is clear that there is a lot of potential for growth. As more artists, musicians, and other creators explore the possibilities of NFTs,