7 Best NFT Stocks to Buy and Hold Now (2023)
Just like any other investment, perusing through the NFT space will reveal its fair share of incredible opportunities for potentially high-yielding returns.
However, it’s easy to get caught up in all the excitement surrounding blockchain technology and neglect what matters beneath the hype.
Investing in solid projects with a high potential return on investment is essential.
While the right investment apps can help investors buy the right assets from the top NFT marketplaces, the story isn’t always that simple when it comes to stocks.
In a way, this might be great news for both new and seasoned traders.
One doesn’t have to understand how to buy NFTs from A to Z to profit from NFT related stocks.
All you need to do is do your research, find an NFT stock that meets specific criteria, and invest in it.
In this article, I’ll take you through the best NFT stocks to buy and hold now – but more importantly, I’ll discuss what makes them worthy investments in the first place.
Let’s get right into it.
What Are The Best NFT Stocks To Buy And Hold Now?
The following are some of the best NFT stocks on the market right now.
1. Visa Inc. (NASDAQ: V).
Visa initially made headlines in August 2021 by spending $150,000 on a CryptoPunk NFT.
This investment boosted CryptoPunk trading significantly. The week after Visa bought NFTs, the value of CryptoPunk rose by more than 450 percent.
The price jump was so significant that many investors wanted to buy and sell CryptoPunks.
With all of that in mind, Visa characterized its purchase as one of its first in the NFT industry, making Visa stocks one to keep in mind as things evolve.
2. Shopify Inc. (NYSE: SHOP).
In 2021, Shopify‘s president Harley Finkelstein announced a shift into NFTs.
In fact, from March 2020 to July 2021, SHOP gained about 450%.
In 2020, the company’s earnings per share improved 700% over the previous year.
Shopify attributed some of these gains to its NFTs initiative.
With 1.7 million businesses in over 175 countries on its e-commerce platform, this stock will likely be worth watching as Shopify diversifies its NFT related investments.
3. Cinedigm Corp. (NASDAQ: CIDM).
Cinedigm is a film and TV production company that runs several streaming services and licensing agreements.
With distribution rights to an increasing number of films, TV shows, and other intellectual properties, Cinedigm is a good buy for various reasons.
Making movies with NFTs might be a new reality, and Cinedigm’s business model is already reaping the rewards by being at its forefront.
The first NFT launch included two remastered classic movies in a limited-edition bundle.
Cinedigm also accompanied these movies with extra content.
Since July, the CIDM stock price has gradually increased.
With new acquisitions and product launches, this trend is likely to continue going into the future.
While its NFT investments might not be as high-profile as other companies’, Cinedigm is a company worth watching.
This might open the door to traders interested in movies and give them a chance to be early investors in the next big movie franchise.
4. Funko Inc. (NASDAQ: FNKO).
Funko is a well-known toymaker, and you’ve undoubtedly seen their products in a toy store in the last 20 years.
They’re the toymaker who creates toys with enormous heads.
They’ve created Harry Potter, Marvel, and Disney editions.
The resale market for boxed Funko toys is worth thousands of dollars.
As a result, you can be confident that they’re no strangers to collectibles.
With the announcement that they’re getting into NFTs in March and April 2021, there has already been a surge in interest in their stocks.
An earnings report mentioned that the company doubled its expected shares in August 2021, a few days after releasing its first NFT packs.
Known as Digital Pop NFT packs, these were the first of what one can hope will be many more NFT-related collectibles.
Since mid-July, their stock has been relatively stable.
With the way things stand, I think this company has a lot of upside potential in the future.
5. Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV).
Hall of Fame Resort & Entertainment Company offers resorts and entertainment services available at all-inclusive resorts.
In August 2021, the company announced that it had teamed up with Dolphin Entertainment to release Playbook.
This NFT collectible series will chronicle significant moments from the six most well-known athletes’ careers.
Following the announcement, shares in the firm rose by more than 6.5 percent.
Like all other stocks, this is a good NFT stock to keep in mind, especially with more sports-related NFTs coming out this year.
6. Dolphin Entertainment Inc. (NASDAQ: DLPN).
Closely related to the previous company, Dolphin Entertainment, Inc., is a Florida-based business that provides entertainment and premium content services.
In March 2021, the company made a deal with Hall of Fame Resort & Entertainment that closely involved the use of NFTs.
The firm’s stock price had risen significantly the week before it announced that it was establishing a division dedicated to NFTs.
On August 2, Dolphin Entertainment, Inc. (NASDAQ: DLPN) announced that it had formed a venture with FTX to develop large-scale NFT marketplaces for individuals interested in sporting, entertainment, and similar types of events.
7. Takung Art Co., Ltd. (NYSE: TKAT).
Takung Art Co., Ltd. is a firm located in Hong Kong that runs an online marketplace for artists, art dealers, and art investors who buy and sell artworks in China.
In March, the firm’s stock price skyrocketed by over 900% in a few weeks following speculation about NFT-related stocks on social media.
On July 8, Takung Art Co., Ltd. (TKAT) announced that it had closed a deal with an institutional investor to sell 571,429 common shares at $8.75 per share.
This was done to raise $5 million in capital.
With NFTs and artists closely related, I’m confident that more NFT-related announcements will come soon for this company.
Other NFT stocks you might want to look into include eBay, Amazon, Draftkings, and Cloudflare, Inc.
What Are NFT Stocks?
NFTs stocks are stocks within publicly traded companies that have announced their plans to invest in NFTs and blockchain technology.
While the internet was initially designed to share information in a peer-to-peer way, blockchain was created to allow users to exchange data in a decentralized manner.
NFTs are an evolution of the initial internet idea.
Their value is represented by what’s inside them rather than who owns them, similar to how it works with cryptocurrencies.
Some people even compare trading NFTs directly with trading baseball cards because both involve investing in unique assets with different values based on scarcity, popularity, and several other factors.
NFTs In A Nutshell
NFT stands for non-fungible token. It’s a type of blockchain asset distinguished from other tokens on the same network.
“Fungibility” is a term in traditional finance that refers to interchangeable objects.
NFTs on the Ethereum (ETH) blockchain are among some of the first and most popular non-fungible tokens in the market.
That said, it’s essential to be aware that not all NFT cryptocurrencies are equal or built on top of Ethereum.
As with anything investment-related, it would help if you did your research before committing.
Not all NFTs have a high profile, and the chances are that not all of them will still exist in a few years.
The Difference Between A Traditional Stock And An NFT Stock
There are both similarities and differences between conventional stocks and NFTs.
For one thing, the prices of NFT stocks follow similar patterns to those seen in traditional Wall Street ETFS markets.
You can expect them to be volatile and change based on NFT market sentiment.
This means their value might increase or decrease based on various factors.
On the flip side, NFT stocks can bring significant profits for investors because they have unique features that make them excellent long-term investments.
Some traders believe that buying popular NFTs now could get even more significant returns than investing in other cryptocurrencies, fiat currencies, or even in items such as gold or silver.
However, I don’t think that every NFT will deliver jaw-dropping gains just like many did over the last few months.
My suggested approach is to invest in a diversified portfolio that includes stocks mentioned in this article and other NFTs listed on the NYSE or NASDAQ stock exchanges.
How To Interpret The Data Presented In This Article
The data presented in this article is based on announcements made by companies about their plans for investing in NFTs and blockchain technology.
These updates include talks with private investors, purchases of digital assets by company insiders, and investments in digital currency exchanges.
When I find certain companies related to NFTs or cryptocurrencies interesting after reviewing their financial statements, historical growth trends, dividend yields, etc., I focus my attention on what they plan to do with these digital assets.
I examine the announcements they make to see if they are related to developing NFTs or blockchain technology.
If so, then I look for information about how significant these investments are and what benefits they may bring to the company’s bottom line in the future.
When I find multiple sources confirming that a company is participating in this space, I then shortlist it and mention it in my list of NFT stocks.
My biggest concern is that some companies might be boosting their share prices by making false claims about investing in NFTs.
I always want to make sure that there is enough reliable data available before proceeding, and to this extent, I suggest that you do the same.
Companies can change their minds at any time without notifying the public concerning NFTs and other internal decisions.
That’s why I took a conservative approach in this list by only mentioning those companies that have either already invested or announced their plans to invest in NFTs and blockchain technology.
Please keep in mind these are speculative bets designed for longer-term investing because I believe the best NFTs stocks could rise significantly high over time.
With all that in mind, significant risks are associated with investing in this space due to its inherent volatility and regulatory concerns.
Please do your research before deciding whether or not you should buy any of these digital assets.
Why Is This NFT Stock Craze Happening?
Firstly, blockchain technology has made its way into every aspect of our lives, from finance to entertainment, health and fitness, and even the music industry.
With problems involving increasing difficulty for content producers to monetize their work while keeping up with the growing costs of digital goods and services, NFT came in at the right time.
Becoming popular during a global pandemic while solving various issues proved to be two factors working in NFT’s favor.
While the use cases for NFTs are still evolving, you can expect to see exciting new opportunities in various industries, including gaming and entertainment, over the next few years.
NFTs and blockchain technology enable gamers to purchase unique digital assets to trade or sell to other players.
This helps them enjoy their favorite video game while giving a deserved commission to the people that took the time to create such assets.
Another example of how companies could benefit from using this technology is by reducing transaction costs within their supply chain networks.
Blockchain technology allows multiple parties to share access to a single ledger which can record all transactions without exposing private information like names or account numbers.
These records are more secure than current systems because they’re hosted on decentralized servers spread across many locations worldwide rather than stored on a single server within one company’s network.
This ledger could help companies save money by streamlining their supply chains, reducing the risk of fraud, and improving overall efficiency.
These are just a few reasons why I think NFTs stocks are very attractive for various investment portfolios right now.
Other Vital Considerations Regarding NFT Stocks
Here are some more aspects to consider before buying an NFT stock.
The Broader Stock Market
The broader stock market is currently being held back by a prolonged period of bearish sentiment.
That’s why you need to be selective when hunting for opportunities for NFT sales in this crypto market.
Be sure to examine all the new companies included on your watchlist and make sure they have a good business model before deciding whether or not they should enter your portfolio.
Crypto and blockchain companies regularly use an NFT marketplace to buy and sell NFTs.
This will affect their stock price, which is why you need to do your due diligence before purchasing any digital assets.
This affects their cash flow and earnings, which will cause fluctuations in their stock price.
Volatility is par for the course in the crypto world, so you need to do your homework before investing.
The Introduction Of The Metaverse
One aspect that is making people buy right now regarding NFTs and stocks is the arrival of the Metaverse.
With more hype being put on this new digital universe, NFTs are seemingly going to play a massive role in how this functions.
Understanding which companies will put their eggs in the ‘Metaverse basket’ will be crucial to grasp which stocks to invest in.
Whether it’s an electric vehicle company that wants to sell electric cars linked to your identity in the Metaverse, or a social media company that wants to build an avatar of you on their Ethereum blockchain, this is a one-of-a-kind situation.
It’s also important to keep an eye on regulations.
Governments worldwide may decide to crack down on some of these digital assets if they believe it can lead to criminal activity.
This could hinder their adoption, which would then affect the performance of NFTs stocks.
Another consideration to keep in mind is the NFT index.
By checking out gen NFT index funds, you can keep track of the performance of specific NFTs stocks in real-time.
That way, you can get up-to-date information before deciding whether or not to buy a specific stock.
Using an NFT index, NFT investors typically hold several different digital assets, creating a diversified portfolio that will decrease the overall risk involved.
Having multiple investments in your portfolio for NFT stocks is ideal.
This provides more opportunities if one company stagnates while others continue to thrive.
Press Releases And Their Impact On Volatility
Press releases may positively or adversely affect crypto and NFT prices if they are released by companies whose stock price is closely tied to the performance of NFTs.
This will cause volatility, so you’ll need to know how market conditions affect these assets.
If you’re thinking about buying an NFT, be on top of any press releases issued by these companies.
In addition, choose your entry point wisely because all of this affects your overall return on investment (ROI) over time.
NFT Stocks To Buy and Hold – FAQ
What Is An NFT Ecosystem?
An NFT ecosystem is a group of companies that work together to build an infrastructure for digital assets. This includes trading platforms, blockchain technology developers, and marketing teams that give exposure to the industry as a whole.
An NFT ecosystem will help bring awareness about new distributed ledger technology that other companies can then use within this ecosystem.
One big part of such an ecosystem is digital art.
With a growing demand for individuals and organizations to produce and buy such assets, stocks related to art tend to be a good investment to look into.
What Are Some Great NFTs To Invest In?
Here are some of the best NFTs to invest in right now:
Cryptokitties: Cryptokitties is built on top of Ether and allows you to buy, sell and breed digital cats. Each one has unique attributes that make them worth purchasing.
Enjin Coin: Enjin Coin is a cryptocurrency used to power the Enjin platform, allowing gamers to create digital assets for trading purposes.
Bored Ape Yacht Club: Bored Ape Yacht Club is a collection of 10,000 NFT with different visual attributes. The Mutant Ape Yacht Club is the second iteration of the initial Bored Ape collection.
NFT trading is growing as more companies create their own NFTs and make them available for purchase regularly.
Is Cryptocurrency Banking Possible Right Now?
The trend is progressing, and more and more finance companies now accept digital assets.
This includes cash for crypto services, debit cards, and also the ability to invest in stocks through a brokerage firm.
There’s still work to be done, but blockchain technology has helped speed up the process of financial inclusion.
Therefore it is easier to perform Bitcoin and other cryptocurrency banking activities.
What Are Some Cryptocurrency Trading Platforms To Be Aware Of?
Various crypto exchanges and trading platforms are available to buy and sell NFTs. Some notable examples include:
Investing in NFT stocks can be a very lucrative business if done correctly.
With the right amount of research, you can find the stock that best suits your investment needs.
Make sure to do this before making any final decisions because it’s essential to your long-term success in this area.
As a result of such research, you can protect yourself against volatility and determine which stock will bring the most return for your initial investment.
Have you invested in any NFTs stocks recently? If so, which ones did you go for, and why did you invest in them? Let me know in the comment section below.
Further reading on AdamEnfroy.com: Want to learn which are the best ways to track your crypto investments?
Here is a post that describes the best crypto portfolio trackers right now.
In addition, here’s a post I wrote comparing Binance vs. Coinbase, two of the best crypto exchanges at the moment.