What Are the Best NFT Stocks?
Buying stock in companies like DraftKings, Cloudfare, and eBay is an easy way to add NFT exposure to your portfolio.
Published Dec 1, 2021•Updated Jan 6, 2022
High-brow art enthusiasts probably never thought they’d see the day when internet memes and Taco Bell gifs became coveted assets. Yet, here we are. Blockchain (the tech used to make cryptocurrency) has officially ushered in Web 3.0, and non-fungible tokens (NFTs) are serving as the quirky introduction we didn’t know we needed to this new technology.
NFTs aren’t exactly stocks—more like unique digital files with a smart code that lets you tell them apart from other duplicates. But people treat them like assets nevertheless, since they are in such high demand and their value goes up and down much like securities. In less than a year, millions of people have started searching popular NFT marketplaces like OpenSea and Rarible to buy and sell popular NFTs. You may have heard of popular projects like Bored Ape Yacht Club, Cryptopunks, Doodles, and more on Twitter, Discord, and other online water coolers.
However, if you’re more traditionally-minded and don’t want to bet your money on a pixelated cartoon, you can buy actual stock in public companies that utilize blockchain technology. People are predicting that Web 3.0 will quickly become the norm and that another tech explosion is on the horizon. Now’s arguably the time to get in and invest in companies who’ve shown a commitment to gear up for the future.
Here are a few of the best NFT stocks if you want to add NFT exposure to your portfolio without gambling on single tokens themselves.
Ticker Symbol: NASDAQ:DKNG
Market Cap: $14.202 billion
DraftKings is a digital sports entertainment and gaming company that has recently launched an athlete-related NFT marketplace. A transition to NFTs makes sense for this company, which made its name in sports cards, collectibles, and gambling.
Much like NBA Top Shot, which partnered with Dapper Labs to give fans access to digital collectibles, DraftKings also sees the light. NFTs make sports cards easier to trade and more exclusive, and super appealing to young collectors. DraftKings' system will reportedly run on Polygon, an Ethereum-based platform.
Ticker Symbol: NYSE:NET
Market Cap: $59.596 billion
Cloudflare is a cloud services provider that has a streaming component. The company has reportedly announced it will soon allow video creators to tie content to NFTs, making it a potential candidate for best NFT stock. With its innovative history, Cloudflare is poised to be a long-term player in the NFT space.
Market Cap: $ 45.888 billion
We’ve all heard of eBay, the original internet marketplace. The company has recently started allowing the sale of some NFTs on its platform with a standard currency (like the U.S. dollar). Some say eBay could make NFTs more mainstream, since popular NFT exchanges like OpenSea require that users use crypto currency for all transactions.
Takung Art Co., Ltd.
Takung Art Co., Ltd.
Ticker Symbol: NYSE: TKAT
Market Cap: $65.06 million
This is technically a holding company, but Takung owns and operates an electronic online platform (www.takungae.com) for artists, art dealers and art investors to offer and trade in artwork. This has NFT potential written all over it, even though it’s not currently one of the best NFT stocks yet. The company has already got the platform ready and built for when the day comes—and investors are ready.
PLBY Group, Inc.
PLBY Group, Inc.
Ticker Symbol: NASDAQ: PLBY
Market Cap: $1.575 billion
PLBY Group, Inc. is the owner of the Playboy brand and provides pleasure and leisure lifestyle services. This year, Playboy partnered with SuperRare and the Miami Beach Art Collection to present NFT art. The announcement caused a 2% leap in share price, which caused investors to take notice.
Ticker Symbol: NYSE: SHOP
Market Cap: $195.501 billion
Similar to eBay, Shopify is also now letting users buy and sell NFTs on its platform. And it even has backing from the influential sports industry, with the NBA’s Chicago Bulls launching its first-ever NFT through Shopify. Shopify has a large enough user base and market cap to influence greater further adoption of NFTs, making it a for-sure stock to keep an eye on.
If you’re still wondering why NFTs make a good investment, you’re probably not big on social media hype. And that’s cool—blockchain technology will one day likely have more utilitarian applications for things like data security and public records. It makes sense for anyone who isn’t keen on scrolling through Twitter all day to approach the above NFT stocks as long-term investments, since blockchain itself is so new.
For now, NFTs are all about hype, status, and betting on an exciting future. Even big-name celebrities are adopting favorable positions on the future of NFTs. Take the superstar Jay-Z, who commissioned a piece of digital art to celebrate the 25th anniversary of his first album, Reasonable Doubt, earlier this year. He turned the artwork into an NFT, and Sotheby's auctioned it off. This example proves key players are buying into NFTs as votes of confidence for what’s to come.
To buy NFTs directly, find a few artists you like on Twitter or visit the most popular NFT marketplaces to see the hottest drops. You need to have a crypto wallet set up, as well as currency to buy the art.
What was the most expensive NFT sold so far?
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