What is an NFT?
NFT stands for non-fungible tokens. An NFT is a digital asset that represents real-world objects like art, music, in-game items, and videos. NFTs are traded online using blockchain technology, similar to top cryptocurrencies. NFTs holders also get a digital certificate of authenticity indicating ownership. And for art collectors ownership is more valuable than the asset itself. One of the most popular examples of NFT is Beeple, a digital art collage of 5000 images. It was sold for a staggering $69.3 million.
How do NFTs work?
The types of art available as NFTs are virtually limitless. Once an NFT is created it is uploaded to an NFT marketplace. Then its unique identity and ownership are verified on the proof-of-work blockchain. The choice of blockchain also determines which NFT you can trade. For example, a specific NFT is traded on Blockchain A. You need to have a digital wallet for blockchain A to trade that specific NFT. The price of an NFT largely depends upon its uniqueness, how rare it is, and its demand. Twitter co-founder Jack Dorsey sold his first-ever tweet as an NFT for more than $2.9 million.
List of NFT Stocks to Buy Now
NFTs have recently become a compelling investment opportunity. It’s similar to buying physical pieces of fine art. The catch behind investing in an NFT is to re-sell it to the highest bidder at a later date and earn huge profits. NFTs transactions are skyrocketing: a record of $2.5 billion sales has been recorded this year so far. In 2020 NFT transactions were around $2 million in total.
Below we have compiled a list of the Best NFT Stock to buy in 2024, which are soaring right now and are expected to grow further.
| Sr. | Name | Symbol | Price as of 1st January, 2021 | Price as of 26th July, 2021 | Market Capitalization |
| 1 | WiSeKey WKEY | WKEY | $6.84 | $6.86 | $139 Million |
| 2 | Dolphin Entertainment | DLPN | $3.48 | $8.37 | $64 Million |
| 3 | Liquid Media Group | YVR | $1.57 | $1.83 | $27 Million |
| 4 | Funko | FNKO | $10.38 | $19.22 | $962 Million |
| 5 | Nike | NKE | $142.85 | $165 | $261 Billion |
| 6 | PLBY Group | PLBY | $10.64 | $30.11 | $1.16 Billion |
| 7 | Hall of Fame Resort & Entertainment | HOFV | $1.54 | $3.04 | $287 Million |
WiSeKey
WiSeKey is a leading global cybersecurity company currently deploying large-scale digital identity ecosystems for people and objects using Blockchain, AI, and IoT respecting the Human as the Fulcrum of the Internet. WISeKey microprocessors secure the pervasive computing shaping today’s Internet of Everything.
The company has recently launched WiSe.ART is a decentralized marketplace for physical paintings, sculptures, and more. The marketplace includes NFTs to represent the physical work, for more fluid price discovery, and this also enables staking on physical artworks. WISeKey’s WISeART technology makes use of technology to protect exclusive pieces of artwork. It combines cutting-edge authentication microprocessors with identity blockchain technology, which together with on-the-ground measures can ensure the authenticity of the artwork.
In their recent financials, the company reported a very strong cash position and huge investment in their R&D department. The stock of the company started in the year 2021 at $6.84. It has remained very volatile throughout the year crossing $17 in May. With WiSeKey heavily investing in R&D and making the NFT trading platform secure for traders, this stock is a must-buy. The stock quickly responds to news of sales purchases of NFTs and new product launches. Therefore, keeping WiSeKey’s plans in mind, it is one of the best stocks to buy now.
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Dolphin Entertainment
Dolphin Entertainment is assembling the entertainment industry’s only independent collection of A-list marketing companies—a family of service providers that, by sharing expertise, relationships, insights, and experience, can not only execute the largest of ideas and provide clients with a unique array of services, but also support Dolphin’s development slate of movies, television, digital programming, live events, and other Intellectual Property, thereby maximizing their chances of success and optimizing profitability.
A few months back, the company announced that it has formed a new division dedicated to designing, producing, releasing, and promoting NFTs for itself and its clients within the film, television, music, gaming, epicurean, and technology industries. With this announcement the company has branched out and plans to launch multiple NFT in partnership with leading companies. The top NFT in the pipelines are:
H2H NFT – The H2H Legends of Football Collection features one-of-a-kind and limited-edition collectible NFTs highlighting those players who have been honored with this incredible distinction.
Culinary NFTs – First of its kind NFT collectible recipe card system which will debut some of the most important culinary figures
The stock of Dolphin Entertainment started at around $3 at the start of the year. During the year it has risen incredibly touching $32 during March. Overall the stock has been very reactive to news about new NFT launches which is a positive sign for investors. With the new division dedicated to NFTs, the stock is expected to react positively to them making it a worthwhile investment amongst NFT stocks. Value Stocks and Growth stocks both are also great investments. Indicators and tools are used by both professional and regular traders, both to understand the market.
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Liquid Media Group
Liquid Media Group Ltd. is a business solutions company. Its end-to-end offering will enable independent IP creators to take professional film/TV and gaming videos from inception to monetization. Liquid Media has announced its own NFT line, Red Carpet NFTs, and the introduction of its own NFT platform, NFTainment.io. NFTainment.io is a community and one of the best trading platforms where fans can buy, sell, or discuss NFTs as well as speculate on the next upcoming NFT.
Liquid Media has recently partnered up with video gaming icon Atari. After this partnership, Liquid Media’s video-on-demand distribution platform, SlipStream, will be made available for download on the Atari VCS PC/console hybrid gaming system. Atari recently signed a deal with Bondly for gaming NFTs. With Liquid Media Group having its trading platform, this deal with Atari might take the company to new levels in the NFT market.
The stock of Liquid Media started at $1.54 in 2021. During the year, the stock crossed $7 in March, marking an approximately 4-fold increase in few months. The stock price has dropped and is currently trading around $1.8. With the new partnerships of Liquid Media, the company is expected to create a good name for itself in the NFT market. This will reflect positively on the stock price. Therefore, now is the time to buy this NFT stock to earn a multi-fold return in the future.
Funko
Funko is one of the leading creators and innovators of licensed pop culture products to a diverse range of consumers. Funko designs, sources and distributes highly collectible products across multiple categories including vinyl figures, action toys, plush, apparel, housewares, and accessories.
Funko has recently entered the NFT market by acquiring a majority ownership stake in TokenWave, TokenWave is the developer of TokenHead, a leading mobile app, and website for showcasing and tracking NFT holdings. TokenHead is available on iOS and Android and currently displays over 10 million NFTs. This extension of business will extend the Company’s pop culture platform to include digital assets.
Funko has great plans to position itself well in the NFT market. The company plans to launch a new NFT regularly which will be sold on the WAX platform. WAX is a leading decentralized wallet on the blockchain, which provides verifiable authenticity for purchases of Funko NFTs. The company is all ready to shine in the NFT market. It plans to make Funko NFTs broadly accessible to the fans by providing affordable entry pricing. Through WAX Blockchain technology, Funko will provide the opportunity to eventually bring Funko collectible NFTs to all its fans globally.
The Funko stock started at $10.38 on the first day of trading in 2021. It is currently trading at $19.22. With the Funko NFTs rolling in the coming months, now is the time to invest in this NFT stock. Investing in best ETFs is one of the most easiest and safe investment option.
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Nike
Nike is a popular name in sportswear. It is in the business of design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services
Nike Breaks to an all-time high in September 2020. In December 2019, Nike secured a patent for CryptoKicks. When a Nike shoe is purchased along with it a digital representation of the shoe is also generated. This digital representation is linked with the customer and he/she is assigned a cryptographic token. This cryptographic token and the digital show together represent CryptoKick. If the shoe is sold later, the digital tokens are traded accordingly. This is how Nike has entered the NFT market.
Further, into the NFT market, Nike is considering Snicker Breeding, which is a category within the NFTs. When this plan is executed, consumers can have the sole and the heel of their choice which could be combined with the tongue and upper of another show to produce a new, totally exclusive design that can be showcased, bought, and sold. Each physical pair is matched with an NFT. Moreover, a sneaker’s full history of breedings will be traceable through the blockchain.
NFT Sneakers are gaining popularity. There are many NFT sneakers out there selling for over $10,000. With the rising demand, Nike has chosen the perfect time to en-cash the changing consumer demands by entering the NFT market. The Nike stock is currently trading at $165. Considering the Nike reputation and its early entry into the NFT market, Nike stock is amongst the best NFT Stocks to invest in today.
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PLBY Group
PLBY is a pleasure & leisure company serving consumers around the world with products, services, and experiences to help them look good, feel good, and have fun. Their flagship brand, Playboy, is one of the most iconic and recognizable lifestyle brands in the world, driving more than $3 billion in consumer spending annually across 180 countries.
Playboy has partnered with Nifty Gateway to create a series of NFTs on Nifty’s digital marketplace. These NFTs will be digital art creations by various artists. The lifestyle brand has also announced its NFT digital art collection with the NFT art marketplace SuperRare.
The PLBY group stock is currently trading at $30.11. When the company launched its first digital art, the stock responded amazingly and rose by more than 80% during the month and crossed the $50 mark. With the company seriously investing in the NFT division and planning to adopt this new technology to do business, PLBY is an attractive NFT stock. If you are a day-trader, it requires frequent buying and selling of assets, so the stock trading app needs to be highly efficient
Hall of Fame Resort & Entertainment
Hall of Fame Resort and Entertainment Company is a leading sport, entertainment, and media enterprise. Their platform allows for an integrated destination resort in Ohio named the Hall of Fame Village as well as other entertainment and media verticals for some of the most powerful and storied brands in the world.
The company has announced the launch of NFTs, in collaboration with Dolphin Entertainment, featuring football star Tim Brown. This news gave a huge push to the company’s stock which soared by more than 100% during March. The connection of the company with the Pro Football Hall of Fame is a great attraction for investors. The football star’s NFTs are the first offering in a series of exclusive tokens featuring the H2H Legend.
The company stock kicked off the year 2021 at $1.54. During March the stock crossed $7 amidst the news of NFTs launch this year. The stock is currently trading at $3.04. With the company entering the NFT market bringing the popular legend to the public, Hall of Fame Resort and Entertainment Company stock is a must-buy NFT stock today.
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Conclusion
NFT craze has hit the market and millions of dollars are being spent on digital assets. Whether this craze is long-term or not only time can tell. But for now, we have compiled a list of the Best NFT Stocks for 2024 that can earn you great returns if you invest in them today.
Disclaimer: None of the information published in this article should be construed as investment advice. Article is based on author’s independent research, we strongly advise our readers to always do their due diligence before investing.
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