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Investing in NFT stocks is one of the newer trends in the stock market today. Non-fungible token (NFT) sales have increased by more than $2.5 billion in the first six months of this year. The explosion in popularity is evidenced by the fact that NFT sales for all of 2020 were just $94 million.
NFTs enable the digitization of rare collectibles, including merchandise, music and art. It allows creators to digitally monetize their work. The technology behind the industry is the same that powers it ether (CCC:ETH USD) Blockchain.
Overall, it’s worth keeping an eye on the long-term viability of NFTs. Of course, it appeals to users due to similar features and dimensions of blockchain technology. With that in mind, you might be interested in investing in a few NFT stocks.
Here are three of the most promising, which are attracting a lot of attention Reddit.
Funko (NASDAQ:FNKO)
dolphin entertainment (NASDAQ:DLPN)
Central Committee International (NASDAQ:ZKIN)
NFT Stocks to Buy: Funko (FNKO)
Ein Stapel Funko Pop! Boxen von Funko (<a href=FNKO).” width=”300″ height=”169″>
Source: Lutsenko_Oleksandr / Shutterstock.com
Washington-based toy powerhouse Funko has performed and held up relatively well despite the crippling effects of the pandemic. The Company markets and licenses a variety of lifestyle products, including home goods, apparel, toys, accessories and other items. Recently, however, it is moving into the fast-growing NFT space, making investors excited about the long-term prospects of FNKO stock.
Funko CEO Brian Mariotti states, “We have the ability to disrupt this space in a way that no one else is doing right now. We can tie digital NFTs to our fan base and link units to physical products.”
Additionally, the company has some exciting licenses in the works that it will market using NFT giveaways. Like other new players in the NFT space, Funko uses NFT as an effective form of advertising.
The company has performed exceptionally well from an operational perspective and recently had an amazing second quarter with triple-digit revenue growth. FNKO stock is currently a top NFT stock to invest in.
Dolphin Entertainment (DLPN)
dlpn stock Hollywood Sign District in Los Angeles
Source: Ingus Kruklitis / Shutterstock.com
Dolphin Entertainment is an entertainment and content development company that offers a variety of PR services to its clients. It essentially provides advertising and strategic marketing services to clients for a fee. However, with its 2.0 initiatives, it plans to develop its assets, the most lucrative of which include NFTs.
Dolphin’s NFT division is involved in the development, distribution and promotion of its customers’ NFTs. Its 2.0 initiatives plan to work with developers to sell NFT collectibles on the FTX crypto exchange.
Dolphin believes it can sell these NFTs at high prices. For example, its football-themed NFT tokens are available for over $25 and can be purchased by credit card, allowing for larger market size. As a result, DLPN stock has a healthy growth path ahead of it. Its six-month returns are a staggering 110% and continue to outperform market returns.
NFT shares to buy: ZK International (ZKIN)
Source: Shutterstock
ZK International produces high performance stainless steel products. However, in recent years it has diversified its activities, focusing on digital technologies. By capitalizing on opportunities in other industries, it seeks to expand its core business.
In 2018, xSigma Corp was formed, a segment focused on investing in blockchain technology. The department has investments in NFTs, decentralized finance and crypto derivatives. In the NFT space in particular, it will launch an NFT marketplace based on the Ethereum blockchain later this year.
There are also merger plans Speckle (CCC:DOT1 USD) also. Additionally, its recently formed subsidiary xSigma Collectibles is partnering with men’s lifestyle brand Maxim to launch an NFT marketplace for the brand. With multiple opportunities on the horizon, ZKIN stock is poised for big gains in the coming months.
At the time of publication, Muslim Farooque held (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publicity guidelines.
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