NFT stocks continue to be a hot topic among investors, who are looking to jump into the non-fungible token trend. Non-fungible tokens have become a new global phenomenon in the blockchain world. These companies provide an online platform for artists, art dealers, and art investors. NFTs have captivated investors. According to blockchain data provider Chainalysis, consumers spent nearly $41 billion on NFTs in 2021.
Metaverse has also emerged as a new space in the market and will be a key driver for NFTs. With that in mind, many analysts believe the metaverse will become a multitrillion-dollar industry over the next decade. That could supercharge consumer demand for NFT stocks.
Coinbase Global (COIN)
Coinbase (COIN) has emerged as the leading crypto platform that provides financial infrastructure and technology for the crypto economy. The company offers the primary financial account in the crypto economy for retail users.
In Oct. 2021, Coinbase announced plans to launch Coinbase NFT, a marketplace to mint, purchase, and discover digital collectibles. This strategic move fits perfectly with the company’s overarching goal of increasing economic freedom in the world.
Since its founding in 2012, Coinbase rose to prominence by trying to bring crypto to the masses. The company has emphasized a consumer-friendly approach to doing just that. Coinbase counted 73 million users and generated over $1.2 billion in revenue in the third quarter of 2021.
This scale is impressive, but when it comes to NFTs, OpenSea is the largest and most popular marketplace. OpenSea has the largest volume for NFTs and in the past 30 days, the NFT platform added a remarkable value of $2.8 billion. In competition with OpenSea, Coinbase has to introduce attractive opportunities for users.
For that, Coinbase wants to simplify the NFT trading process. Similar to how it made the crypto brokerage and exchange business so simple. The company now wants to do the same with NFTs. Recently, Coinbase announced a partnership with payments network Mastercard, which will make it easy to buy NFTs, directly via debit or credit cards. Adding more potential buyers to the entire NFT ecosystem will lead to a robust market for creators.
The yet-to-be-launched Coinbase NFT marketplace is not the first, but it aims to be one of the best. COIN stock is one of the best NFT stocks on the market to invest in today.
Takung Art (TKAT)
Takung Art (TKAT) offers a collection of artworks for investors to buy and is getting into NFTs. It didn’t start with NFTs as its creation goes back to 2009.
Takung Art enables China’s growing middle class to invest in fine art and collectibles through three proprietary online platforms. The first one is Takung Unit, which facilitates trading and shared ownership of Asian and international fine art. The second is Unit+, which facilitates trading and shared ownership of Asian and international collectibles. And, the last one is Takung Online, an e-commerce platform enabling artists to promote and sell entire pieces of artwork directly to buyers.
Takung has been a part of a basket of stocks that investors seem to think may enter the NFT space. The company is not in the NFT space yet, but many believe it has the potential to become a part of it. That’s mainly because it runs an online platform that allows artists, art dealers, and investors to exchange and invest in artwork. This would seem like an ideal platform to begin offering digital art, a large NFT category.
It’s been long-awaited that Takung becomes the next NFT stock. So far, it’s been trading on speculation of being an NFT stock. The company is yet to come up with a comprehensive explanation of its plans for NFTs. However, we would like you guys to keep TKAT stock on your watch list.
Dolphin Entertainment (DLPN)
Dolphin Entertainment (DLPN) operates as an independent entertainment marketing and premium content development company. That makes DLPN one of the leading NFT stocks on the market.
The company recently announced new marketing, consulting, and communications agency. The new agency will focus solely on developing and marketing blockchain, metaverse, and Web3 projects. Moreover, it will absorb the company’s NFT division announced in March 2021. The idea is to provide expanded service offerings to over two dozen active Web3 projects and partners on Dolphin’s rosters.
This will provide Dolphin with the infrastructure needed to offer a 360° approach to its own NFT and Web3 investments. The yet-to-be-named agency will play a strategic leadership role in Dolphin’s upcoming NFT programs. That includes the recently announced partnership with Winter Sports Champions to launch an NFT collection as the winter games start in Beijing.
On top of this, in November last year, the company announced the launch of Creature Chronicles: Exiled Aliens. It’s the content studio’s first generative NFT collection and the initial project from newly-hired visual artist Anthony Francisco.
DLPN seems a promising pick in the NFT stocks to invest in for the long term.
Funko (FNKO)
Funko (FNKO) is a maker of pop-culture collectibles and has been a frontrunner in expanding its footprint in the NFT space. The company’s been around longer than many realize with its founding taking place in 1998.
Over the years, investors have been making profits from FNKO stock. So, it’s a well-established player in the stock market. In 2021, FNKO stock easily surpassed the market return, with a gain of 40%.
To mark its footprints in the NFT space, Funko acquired a majority stake in TokenWave last year. TokenWave is a developer of TokenHead, which is a mobile app and website for showcasing and tracking NFT holdings. Funko has already launched its NFT offerings on the WAX platform. WAX is a leading decentralized wallet on the blockchain, which provides verifiable authenticity for purchases of Funko NFTs.
In the recent quarterly results, the company reported a 40% increase in net sales YoY to $267.7 million. While the net income increased 17.8% to $18.4 million. For the first nine months of 2021, Funko ended with cash flows from operations of $78.8 million. That added almost 81% to total liquidity, taking it to around $193.2 million.
With solid financial performances, FNKO seems an exciting bet in the NFT stocks for the long term.
ZK International Group (ZKIN)
ZK International Group (ZKIN) is a Chinese company that focuses on engineering but expands to modern tech. In the latter quarter of 2021, ZK International’s subsidiary xSigma Collectibles announced its first major NFT development.
Through MaximNFT, an NFT marketplace launched by xSigma, the company-sponsored NFT.NYC, the world’s leading annual NFT event. The event was a promotion for the NTF marketplace.
MaximNFT targets an actively growing industry of NFTs, which surpassed $2 billion of total sales volume in 2021. MaximNFT’s goal is to provide the best customer experience and innovative NFT solutions available. It will allow customers to create and sell NFTs on various blockchains, including, Ethereum, Binance Smart Chain, and Polkadot, among others.
Furthermore, xSigma’s MaximNFT is working on an innovative NFT tokenization feature that will allow customers to trade fractions of any NFT on the market. The marketplace plans to focus on sports and celebrities’ collectibles, as well as gaming content. The company is betting on the rise of gaming and utilization of the NFT technology for in-game purchases and collectibles. Additionally, xSigma plans to combine NFT with new AR and VR technologies. That’s huge as this will target both the NFT and metaverse markets.
ZK International’s subsidiary xSigma will be a key player in the NFT space in the coming years. Therefore, its NFT stocks are the last on our list to invest in for the long term.
