Non-fungible tokens – NFTs – have received a lot of hype in the last few years and the 2021 cryptocurrency bullmarket during the pandemic period were one of the drivers behind this popularity and surge.
Driven by fear of missing out (FOMO), some investors are buying stocks that are influenced by NFTs and Wall Street companies are showcasing their piqued interest in NFTs. For example Shopify recently made headlines in the digital world when it allowed select merchants to sell NFTs through its platform.
We’ve compiled a list of companies that are currently riding the NFT wave either on speculation or due to their collaborations and efforts in the space. These are potentially some of the best NFT stocks to buy in 2024 for long-term investors who would prefer to buy stocks rather than buy NFTs themselves.
Top NFT Stocks 2024 List
- Nike (NASDAQ: NKE)
- Dolphin Entertainment Inc (NASDAQ: DLPN)
- Funko Inc. (NASDAQ: FNKO)
- Jiayin Group (NASDAQ: JFIN)
- Cloudflare (NASDAQ: NET)
- Apple (NASDAQ: AAPL)
- eBay (NASDAQ: EBAY)
- Liquid Media (NASDAQ: YVR)
- Cinedigm (NASDAQ: CIDM)
Best NFT Stocks To Buy – Full Guide
Nike (NASDAQ: NKE)
Nike’s presence in this list adds a lot to its credibility and future as well. Seeing its reputation and levels of operation, Nike can beThe behemoth has recently showcased its desire to explore the NFT space, gaining a first-mover advantage. Its intentions to join the NFT bandwagon became even more apparent when it decided to patent CryptoKicks.
The patent which was executed in December 2019 allows Nike to tokenize exclusive shoes. This means that every shoe that’s bought is recorded via blockchain technology.
This is how this system will work. After any shoe will be purchased, tokens will be unlocked. To take the unlocking process further, a 10-digit shoe identification number will be linked to an owner identification code, that will link it to the owner’s shoe.
The tokens will utilize the ERC 271 tokens and the transactions will be recorded on the Ethereum blockchain. In case, you’re looking to stake or buy Ethereum to then buy NFTs, you can check out eToro. It provides endless features and security functions ensuring a transparent and smoother user experience.
According to the patent filed by Nike, it states, “When a consumer buys a genuine pair of shoes a digital representation of a show may be generated, linked with the consumer, and assigned a cryptographic token, where the digital shoe and cryptographic token collectively represent a ‘CryptoKick.”
Dolphin Entertainment Inc (NASDAQ: DLPN)
Dolphin Entertainment is an entertainment marketing and content development firm. The firm has a list of subsidiaries such as 42West, The Door and Shore Fire Media. It also provides marketing and publicity services to some of the largest and top brands in the world.
Apart from the traditional media, the Florida-based firm also has access to the digital world with services like social media, influencer marketing, creative branding, production. Hence, its prowess and positioning give it a good chance to foray into the NFT space, with an altogether separate NFT division. This division works alongside its clients in managing and creating their NFTS.
It started making waves in the crypto world, with its announcements of collaborating with FTX.US, the United States’ one of the largest crypto exchanges. Moreover, it also got into a collaboration in March with Hall of Fame Resort and Entertainment, pertaining to NFTs.
With a market cap of around $76 million and a revenue standing at $24 million for the last year, it certainly has some strong credentials to back up its NFT ambitions.
Your capital is at risk.
Funko Inc. (NASDAQ: FNKO)
The company launched in 2017, has been proactive enough in making itself visible in the last four years. Funko is one of the largest manufacturers of licensed pop culture collectibles through its brands like Funk Pop! Collection.
The company relies heavily on its licenses and agreements with producers and creators of TV shows, movies, video games, and other popular content forms from other platforms. While Funko is mostly into physical collectibles and figurines, the company is excited to enter the NFT space with a bang.
Funko’s CEO Brian Mariotti is willing to experiment with Funko’s presence and products in the non-fungible token space. He said that he imagines linking the sales of these physical figurines to NFTs and further focusing on providing their digital offerings on rare licenses.
The company finally launched Funko Digital Pop in July this year, its line of digital collectibles in the unique Funko design and style. The prices for Funko’s DIgital Pop collection start at $9.99 and one can track their collectibles through the TokenHead app, which is available on iOS as well as Android.
Each Digital Pop offered by Funko gives you a chance to reveal a rare Funko Digital Pop!, which can be redeemed with a physical Funko Pop! when opened.
Your capital is at risk.
Jiayin Group (NASDAQ: JFIN)
The Jiayin Group is a Shanghai-based Fintech platform with a focus on NFTs. Jiayin Group’s platform helps connect investors with borrowers, facilitating a transparent and secure transaction between people who want to lend money and the people who need to borrow the money.
Jiaying group recently announced its plans to buy a 95% stake in Bweenet Network Technology Company, which manufactured microchips used in cryptocurrency mining. Experts have been speculating on the basis of this acquisition, that Jiayin group is looking into utilizing Bweenet’s blockchain technology in creating non-fungible tokens.
While the company hasn’t announced anything formally, its foray into the crypto world seems certain, making it an addition to our NFT stocks list.
Your capital is at risk.
Cloudflare (NASDAQ: NET)
Cloudflare might not be something that comes into your mind when you might be thinking of the best NFT stocks available there. However, when it comes to supporting the NFT creators, its streaming service called Cloudflare Stream helps them publish their creations. It’s a relatively cheaper and more efficient way for creators to ensure a copyright on their published content pieces.
In case, creators find these tools useful to implement copyright on any of their digital artworks, it can catch on with a list of other creators.
While the idea might seem far-fetched but the Cloudflare Stream’s ownership-ensuring tool can help the company become one of the best NFT stocks, due to its direct association with the NFT creators.
The company, essentially a cloud services provider has a big role to play when it comes to NFTs and their related infrastructure as well.
What makes Cloudflare a strong contender in the list is the fact that it already has a stronghold as a prominent player in the software as a service industry. Its core areas of services are in line with what the traditional businesses might look for and are adept with. The company provides services like content delivery. website development, analytics tools, and more for businesses.
Your capital is at risk.
Apple (NASDAQ: AAPL)
In an interview, Apple CEO, Tim Cook, was asked if the company is looking at using cryptocurrencies as a mode of payment, he simply said that cryptocurrencies are “something that we’re looking at. It’s not something we have immediate plans to do.”
However, the Apple CEO did mention that he owned some himself.Adding on to it, he did mention that the Apple stockholders wouldn’t want to expose themselves to crypto when they invest in their stocks, if that’s the case, they can do it themselves.While this might lead many of you out there to speculate, Apple’s entry into the NFT or the crypto space might be a far-fetched idea right now.
In September 2021, Apple blocked apps that were storing or displaying NFTs, citing breaking the App Store’s rules in the process. Gnosis Safe, a crypto wallet was moving on with its latest update when to its surprise, Apple blocked the launch.However, seeing how Apple has moved in the past, against the current, is what many enthusiasts and experts alike are enthusiastic about.
When the entire world was hooked on Windows, Apple launched the Macintosh. Seeing their inclination towards creativity and innovation, NFTs might just be one of the tools they might (might be the keyword) want to foray into in the near future.
Your capital is at risk.
eBay (NASDAQ: EBAY)
The way eBay has embraced NFTs can turn out to be a turning point for the entire digital ecosystem.
One of the first and the largest internet marketplaces, eBay has dipped its foot into the NFT pool. The company allows the sale of some of the NFTs on its online platform, but that might just be the start of it. eBay allowed the sale of non-fungible tokens on its platform starting with a small group of verified sellers on the platform.
While the platform has accepted NFTs, its focus still lies on dollar sales rather than through cryptocurrencies, which is the general norm. This move by eBay can help NFTs come a lot into the mainstream, hence making them more accessible.
In an interview with Reuters eBay executive Jordan Sweetnam told them, “In the coming months, eBay will add new capabilities that bring blockchain-driven collectibles to our platform”.
With cryptocurrencies reaching an all-time high and eBay already showing its intentions to enter the NFT market, it might one of the best NFT stocks to buy.
Your capital is at risk.
Twitter Inc (NASDAQ: TWTR)
The recent news around Twitter CEO Jack Dorsey bidding adieu to his role in November 2021, can turn out to be one of the key factors for the company to appear in our NFT stocks to buy list. Moreover, his recent exit from Twitter, a few days back has led experts to speculate that he might be giving more time to his payments startup Square and exploring the cryptocurrency space within that.
For many, Twitter might not be the first company that comes into their minds when they think about cryptocurrencies or NFTs. The first move that sort of speculated Twitter’s intention towards foraying into the NFT space was when Jack Dorsey sold his first Tweet ever as an NFT for a whopping $2.9 million.
Soon after this happened, Twitter soon enough explained their intentions and announced a release of 140 pieces of digital artworks from the company, not available for anyone. The 7 NFT artworks were released in editions of 20, hence making 140 of them.
The catch is that Twitter users can retweet to increase their chances of winning these artworks which were minted and listed on Rarible. Going with the trend, Mark Cuban listed one of his tweets on Valuables as well for 0.56 ETH. With Twitter entering the NFT space, it can certainly be one of the top NFT stocks you can look out for. Although, many people are concerned about the environmental impact of NFTs, which can go against Twitter.
Your capital is at risk.
Cinedigm (NASDAQ: CIDM)
Cinedigm entered the NFT space with a lot of speculation along with Funko.
It is a New York-based firm that specializes in marketing movies, television shows, and other short and long forms of content. What makes it stand out is the fact that its library consists of some of the best movies and TV shows on its platform. Adding to it, Cinedigm has been proactively working to expand its offerings by acquiring other content libraries and forming distribution partnerships.
In April 2021, the company announced the launch of Fandor Selects. With Fandor, the company aims at releasing limited editions of classic films. In other NFT news, a company called Wizard Brands launched its own NFTs. What makes the speculation stronger is the fact that Wizard Brands holds a minority stake in the streaming service CONtv, which in turn is managed by Cinedigm.
Experts are speculating that this might lead two companies to associate with one another in the space anytime soon. However, the speculations around a probable association can make it one of the probable NFT stocks to invest in.
Liquid Media (NASDAQ: YVR)
The Canadian company, Liquid Media is bridging video games into the NFT space.
The company recently launched its own set of NFTs recently called Red Carpet NFTs in May. Liquid Media positions itself as a business solutions powerhouse in the entertainment world.
Before setting their foot into the NFT space, Liquid Media was essentially known for creating the semi-popular mobile game called Ancient Aliens.
With Red Carpet NFTs, Liquid Media has planned to generate NFTs of Hollywood actors’ past and present as well as their classic and successful movies. The project also consists of a marketplace to buy and sell NFTs.
The speculations around Liquid Media foraying into the NFT space come because of its recent distribution agreement with Atari. This agreement allows Liquid’s video-on-demand platform to be appearing on Atari’s hybrid console system. Moreover, Atari recently signed an agreement with the platform Bondly for gaming NFTs.
Your capital is at risk.
What Are NFT Stocks?
In simpler words, NFT stocks are the company stocks listed on exchanges that are influenced by their activities in the crypto or the NFT space. Ironically, most of the NFT stocks that you might hear about, might not be directly involved in the NFT space, but their actions or indirect involvement has the ability to be influenced by activities in the token market.
If a company has any kind of involvement in blockchain technology, entertainment, or online retail of digital assets, there’s a strong chance of traders speculating on it. Stocks perceived to be investing in the non-fungible token ecosystem are being impacted by movements in the crypto space. This degree of involvement of a company’s stock in the token system is what makes it an NFT stock.
How Did We Rank The Best NFT Stocks?
For us to mention a list of top ten stocks, we looked into factors that usually impact a share’s or crypto’s prices.
While it wouldn’t be fair to put cryptos and shares into a single basket, considering them to have varied financial characteristics, depending on their volatility, background, and financial structure.
We’ve listed these NFT companies to invest in on the basis of the following factors.
- Degree of Involvement: We’ve shortlisted the top NFT stocks on the basis of their degree of involvement in the NFT ecosystem. While some of them are directly involved in cryptocurrencies or non-fungible tokens, the other stocks and their values are determined by speculation on the activities these companies might get involved in, down the line.
- Mainstream Reputation: A company’s reputation and awareness in the mainstream arena can play out in its favor or disadvantage. Say, a brand like Nike, which has a set of reputable faces and years old legacy, steps into NFTs, it can make an impact.
- History With Crypto: We’ve also listed down the companies and how their involvement has been in and around crypto-associated stuff. Whether they have been receptive to the change or there have been inhibitions about the same.
- Degree of Stability: The NFT stocks to buy, mentioned above are the ones listed keeping in mind their characteristics in a volatile as well as a stable market. We’ve kept in mind, the risks associated with the investments around these stocks.
- Levels of Speculation: As mentioned above, many of these stocks are riding the NFT wave, on the basis of speculations involved around that NFT stock. For instance, if the speculations around the stock aren’t directly related, then there is a very slight chance for it to be impacted by any movements in the non-fungible tokens space.
Where is The NFT Market Headed?
While the NFT craze is comparatively newer, it certainly isn’t going anywhere. Since 2017, NFT sales have generated over $6.2 billion. This states the condition of popularity and craze around non-fungible tokens.
NFT trading volume grew 38,000% year-on-year hitting $10.7 billion during the third quarter of 2021, according to an analysis by DappRadar.
“Buy it because you like the art or buy it because you think the collectible is cool or the community is cool. You want to participate for the asset, not the underlying technology that powers this,” said Evan Cohen, the co-founder of Vincent. According to experts, FOMO-buying isn’t something they’d suggest.
JPMorgan on the other hand states that while the market grows and sees the numbers rising, the regulatory and legal hurdles might be some obstacles on its path. According to the organization, these instruments still face legal and regulatory hurdles from governments, citing copyright issues, intellectual property rights issues, authentication, and more.
Hence, the NFT market can be considered to be one that can be explored but with caution and only after performing thorough research on your end.
How To Invest in NFT Stocks on eToro?: A Step-By-Step Guide
Step 1: Research
If you want to get hold of the best NFT stocks to buy, your research no doubt should be top-notch. Don’t end up buying stocks that are suggested by your friends, family, or Danny at work. Prefer doing your research before investing your hard-earned bucks into any stock.
Step 2: Find A Regulated Broker
When choosing a platform or a broker, the first thing that you need to ensure is your broker is regulated and meets all the security standards applicable in your country. We recommend using eToro to trade in the best NFT stocks. Choosing a stockbroker requires an equal amount of effort as does going for an NFT stock.
eToro is regulated by authorities like including FCA (UK), ASIC (Australia), CySec (Cyprus), GFSC (Gibraltar), FinCen, and FINRA (United States) to ensure top-notch security for your invested funds. Moreover, you also get 0% commission and pre-created investment portfolios for the best user experience.
You get tons of security features for the best results. eToro’s copy trading feature allows you to look into how top traders are making their moves in real-time and helps you assist your next buying or selling call. You can click on this link to visit eToro & open your account.
Step 3: Open and Fund Your Account
After you are done with all the steps, and your account is finally operational, you can add funds from your bank account to your portfolio, to invest in stocks.
Step 4: Set Order Types
For investing in the stock market, you need to assess the type of order you will be going for. Decide whether it will be a market order, a stop-loss order, or a limit order for instance. This broadly depends on your trading style, the time you can put in, and the risk you are willing to take.
Step 5: Search for NFT Stocks
This is where your research in the first step comes into play. Go for NFT based stocks – companies related to the crypto and NFT scene – that you have researched in-depth and have a proven track record.
eToro is both a stock broker and a cryptocurrency exchange – so as well as buying stocks and shares you can also buy Ethereum (ETH) which can then be used to buy non-fungible tokens at an NFT marketplace.
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Tips for Investing in NFT Stocks
- Always keep your portfolio diversified. Don’t put all your eggs in one basket is one thing that applies to the stock market and your investments.
- Identify the risks involved around NFT stocks. You should realize before investing that how speculative the news might be. For instance, a company acquiring an NFT company might be strong speculation. However, a company’s CEO talking about his personal opinions on crypto or NFTs might not be much of impactful speculation.
- Identify your sources of research and information before making a big leap. Your research makes a lot of difference.
- Read about the industry as well as the company you are going to invest in.
Risks & Advantages
Before you go ahead and get all excited about NFTs, there are a few things that one should be aware of. If something has its pros, it certainly has it own set of cons. Let’s look at them.
Risks of NFTs
- The NFT markets are marginally or near to zero regulated. This makes them a little riskier than traditional financial instruments.
- There is a high risk of volatility.
- Still at a very nascent stage, hence a lot of steps are to be taken because they become comparatively stable.
Advantages
- Higher growth numbers in bursts
- First-mover advantage
- With companies investing in the crypto and NFT space, there are a lot more underlying opportunities.
Conclusion
The non-fungible token industry has seen exponential growth that shows no sign of slowing down. The cryptocurrency and NFT markets are so bullish that any list of the best NFT stocks to buy may as well be a list of the best stocks to buy in general.
To give some context, OpenSea, the largest token marketplace saw sales volumes worth $3.4 billion, in the month of August alone. This shows the potential that the digital NFT ecosystem has.
Companies like Apple or Nike entering the NFT scene is very promising. However, always remember to exercise caution and only invest what you can afford to lose. NFTs are still comparatively newer instruments when we look at the traditional systems and models of transactions.
Whenever you invest in NFTs or stocks based on them, do your own research and study as much as you can about a company’s future plans and roadmap.
One of the advantages of eToro for market research is it’s a social trading platform – you can network with other investors and hear their thoughts on whether every financial asset, whether it’s stocks or crypto, is likely to move up or down in price. So you aren’t alone and left guessing.
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FAQs
Are there any NFT stocks?
There are no directly related NFT stocks out there. However, there are stocks which are influenced by NFT movements and their moves into the NFT markets. Stocks such as Cloudflare, Twitter etc.
How can I buy an NFT stock?
You can buy an NFT stock just the way you can buy any stocks from a regulated stock broker.
Which NFT stocks have a 'Strong Buy' rating?
NFT related stocks like Funko, and PLBY Group have a strong buy rating.
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