The NFT space is one of the most interesting and controversial market ideas to emerge over the past decade. The concept comes down to putting in place the means to bring effective real estate value to digital property, which is a revolutionary idea if it takes off. And it has already taken off to some extent.
NFTs were hot earlier this year after a JPEG file by digital artist Beeple sold for $ 69 million at Christie's in March. Then we saw a bit of a break. But this momentum picked up in August and accelerated further in September. Monthly sales on OpenSea, NFT's main buying and selling platform, CNN hit $ 3.4 billion in August, an all-time high, according to data from Dune Analytics. September became the second best month ever in just four days, with sales of $485 million.
Now we have a major stake from the deep pockets starting to fuel the NFT market with Ripple's announcement that it is launching a $ 250 million fund focused on exploring new non-fungible token use cases ( NFT) on the XRP Ledger (XRPL).
According to the statement from Ripple, the potential of XRPL as an NFT trading platform was highlighted by Japan-based financial services firm SBI Holdings in its report "Building a more sustainable, scalable and accessible future for NFT with XRPL in July.
The move promises to provide some extra juice to a space that appears to need only more visibility to make big waves for speculators and investors. With that in mind, we take a look at some of the most prominent and interesting players in the equity market with high exposure to NFT.
The NFT share powered by blockchain technology and known as Uninfected Token. They have become the new axis of commerce on social networks. And we've seen how that can affect inventory. So, are these NFT stocks among the stocks you might want to invest in? Or are they a flash in the social media trend?
As consumer trends loom large, investors and organizations are more than eager to get involved. Because of this, companies of all sizes continue to make their entrance into the NFT world. For example, we could look at the likes of Visa (NYSE: V) and Shopify (NYSE: SHOP). While their businesses may be different, the two companies have made waves in the NFT industry recently. On the one hand, Visa purchased a $150,000 NFT with plans to better understand the inner workings of NFTs before offering consumer-related services. On the other hand, Shopify now allows select merchants to sell NFTs, providing a more conventional platform for NFT enthusiasts.
Overall, while cryptocurrencies like Bitcoin (BTC) face volatility, interest in the underlying blockchain technology surrounding them remains high. In fact, even future names in the NFT space like Vinco Ventures (NASDAQ: BBIG) are now involved in meme stock trading. This is evident as BBIG shares are currently above 700% YTD. With all that said, here are the top three NFT stocks to consider in the stock market right now.
If you've been hanging out on Fintwit, Discord, or Reddit looking for the hottest new investments, you've surely come across the acronym NFT. You can also quickly find that these are not traditional stocks or investment vehicles that you might find on your traditional brokerage exchange.
But what are NFT titles? And why should you consider this the next big investment? NFT stands for non-fungible token. So if you're not into crypto, you probably still don't really know what that means.
A fungible token is something like bitcoin. It can be exchanged for another bitcoin or fiat currency; no difference or difference. For the layman, fungible tokens are everywhere.
Over the past year, the popularity of NFT stocks has exploded along with the physical collectibles market. And of course cryptocurrencies. It wasn't just sports or art collections that sparked the NFT craze, but also unconventional videos, tweets, and even pixelated images of characters. Here are some of the most popular on the NFT market this year.
Ask any sports collector for the most popular product and they'll tell you without a doubt: NBA Top Shots. Who are you? NBA Top Shots is made by Vancouver-based Dapper Labs.
This is a blockchain-based NBA licensed collection that fans can collect, trade, or sell on the NBA Top Shots Marketplace. Each NBA Top Kick Moment is a video clip lasting a few seconds of a specific game played by that player. At first glance, they look like digital NBA trading tokens, but each specific moment is built into the Ethereum blockchain and certified as absolutely unique to each other.
That's right, the musicians are joining too because the rock band Kings of Leon just released their latest album as NFT which means every digital copy of their album is certified.
There is a lot of discussion in the music industry about how artists using NFT album release technology can get real money for their work. Electronic music artist Aphex Twin also sold an NFT with audio and video components for 72 Ethereum coins, or around $ 126,000 at the time of writing.