9 Superior NFT Stocks to Watch Out for in 2023

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In 2021, there was a boom in NFT sales, and everyone wanted to dip their toes into NFT marketplaces; the sales amounted to 2.21 billion. For starters, the ROI (return of investment) of NFTs was very high — it still is. While many artists profited from NFT sales, many people were surprised after a collage (The First 5000 Days) was purchased at $69.3 million.

On top of that, Bored Ape NFTs also made headlines after being traded at very high prices. When the Bored Ape Yacht Club was at its peak, the floor price was 152 Ethereum. 

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With such promising returns, it’s pretty clear that NFTs can be a good investment. This post will give you insight into the best NFT stocks. 

What Is a NFT?

NFTs (non-fungible tokens) are digital blockchain assets containing unique metadata. Apart from that, the value fluctuates from one NFT to the next. Since NFTs have unique properties, you cannot trade one NFT for another NFT.

Moreover, NFTs can be in different forms. We are talking about digital art, music, audio, drawings, you name it. However, the NFT market revolves around art and other collectables such as cards. 

Cryptocurrency, on the other hand, is fungible. 

Fungible means that you can easily trade one Ethereum for another Ethereum and the value will still be the same.     

What Are NFT Stocks?

Ever since NFTs went viral, most companies started investing in NFTs. For instance, some companies have a special fund for NFT investments only. With such capital, it becomes much easier to invest in digital collectables, even if the company does not specialize in NFTs.

Other companies are directly linked to NFTs since they create digital art. Companies specializing in NFTs may also develop NFT marketplaces, which makes it easier for you to buy and sell NFTs. 

Stocks offered by companies specializing in NFTs are referred to as NFT stocks. NFT stocks are always included in public stock exchange markets. For a company to issue NFT stocks, it has to be evaluated by different bodies such as the Security Exchange Commission and The Trading Commission. 

Such commissions evaluate the credibility of each company to save the public from fraud and trading scandals.  

Best NFT Stocks To Buy In 2022

 

Defiance NFT ETF (NFTZ)

Well, Defiance is the first company to have an ETF (exchange-traded funds) that revolves around NFTs. The company also launched an index that tracks the performance of firms that invest in NFT, which is known as the Blockchain Select Index. 

On top that, Defiance has other ETFs to diversify its portfolio. Examples of such ETFs include the Biggy Big Data ETF, PSY Pschedelics ETF, 5G ETF, and HYDRO Hydrogen ETF.

Well, the NFT ETF has been invested in NFT firms focusing on blockchain technology. Moreover, the fund is non-diversified in nature, and it focuses on a certain asset category within the blockchain industry. With a total value of $11.5 million, the ETF can expose you to various blockchain assets. The trading price starts at $13.5 on the NYSE.

 

Funko Inc. (FNKO)

If you love collectables, chances are you have probably heard about Funko Inc. It manufactures games, clothes, toys, action figures, you name it. Since most accessories are related to pop culture, products offered by Funko Inc have a very high demand. Everybody wants to own an accessory that reminds them of their favourite TV character. 

But here’s the kicker:

The company has developed an NFT digital marketplace where Funko NFTs can be traded. This makes it easier for their customers to create a digital collectable collection, based on their tastes and preferences. Back in 2017, the company projected that it would achieve the $1 billion revenue mark by the end of 2021. Earlier this year, Funko confirmed that they managed to surpass the $1 billion mark in 2021, with net sales of $1.2 billion. Funko Inc is listed on NASDAQ and the price of a share starts at $20.  

 

Currency Works (CWRK)

Currency works, also known as Metaworks, is a company which develops digital currency for firms interested in blockchain technology. By creating and developing digital currencies, Currency Works solidifies the transaction chain required for customer engagement and customer attraction. 

While this company offers blockchain services to streamline transactions, it has also dipped its toes in crypto mining through various investments. Not to mention, Currency Works also developed an NFT platform that focuses on digital films. Thanks to the NFT platform, the public can have access to NFT clips of popular artists, behind-the-scenes videos, and other digital collectables.

Additionally, the NFT platform features a motoclub that is suitable for car enthusiasts. The Motoclub has multiple car NFT collections of rare cars and cars owned by popular celebrities.

 

Dolphin Entertainment (DLPN)

Dolphin Entertainment offers content creation and marketing services to other firms via its subsidiaries. Examples of such subsidiaries include Shore Fire Media, 42 Wests, and The Door.

While Dolphin entertainment doesn’t deal with NFTs directly, it partnered up with FTX in 2021. The two companies collaborated on an NFT project. As a result, they developed an NFT marketplace for entertainment collectables. 

Dolphin entertainment focused on the production, entertainment, and branding aspects. FTX, on the other hand, boosted the project with its blockchain expertise by streamlining operations focusing on crypto exchange services.

Furthermore, Dolphine entertainment is also partnering up with Hall of Fame Resort and Entertainment to create an interesting and entertaining NFT project.              

 

Cloudflare (NET)

Cloudflare is a tech company which protects online businesses from cybersecurity attacks. It provides DDoS (distributed denial of services) mitigation services for safeguarding firms against attacks. Distributed denial of services is an attack that locks out admins and hosts from their own systems, with the end goal of interfering with the services offered by a certain organization. 

While Cloudflare specializes in cybersecurity, it also features other platforms that offer different types of services. For instance, Cloudflare Stream is a video publishing platform that makes it easier for multiple users to post a wide array of videos regardless of the video quality. On top of that, the platform was recently upgraded to support NFTs.

Unlike other NFT platforms, Cloudflare Stream can support NFTs developed on other platforms. Well, anyone can integrate an NFT with a video published on Cloudflare. Videos that are linked to NFTs can be sold at a certain price, based on their worth.

 

Playboy Inc. (PLBY)

Playboy started off as a magazine, but it has grown immensely into a big brand. Not to mention, Playboy has ventured into other niches. At the moment, Playboy is manufacturing apparel and other fashion accessories such as earrings, necklaces, you name it.

Since Playboy Inc is quite good at diversifying its portfolio, it launched various NFT collections in 2021. A good example is the Playboy Rabbitars NFT collection. Named after a unique rabbit species, the Rabbitars NFT collection has more than 10,000 unique characters, with different traits.

Playboy Inc partnered up with two blockchain tech companies — WENEW and Possible Studios — to develop Rabittars NFTs. Apart from that, Playboy Inc also collaborated with an artist as they were creating the Liquid Summer NFT project.

While Liquid Summer was Playboy’s first NFT Project, the NFTs sold out within a few minutes after they were launched on Nifty Gateway.

 

Draft Kings (DKNG)

DraftKings is a sports betting company that was founded in 2012. It features an online betting platform that makes it easier for users to place their bets. Players can engage in various types of sports contests, depending on their experience. Such contests focus on NFL, NHL, NBA, and MLB.

In 2021, DraftKings developed an NFT marketplace for their users. Unlike other NFT marketplaces, players can buy multiple NFTs, using normal online payments. This means that you don’t need a crypto wallet to purchase an NFT from the DraftKings NFT marketplace. Since DraftKings specializes in sports betting, most NFTs are sports-related.

Not to mention, the company partners up with various sports figures and launches various NFTs on their behalf. It has partnered up with Simone Biles, Wayne Gretzky, Derek Jeter, and Tony Hawk. While most NFTs are sports-related, DraftKings has started focusing on Entertainment and pop culture NFTs.

 

eBay (EBAY)

Since eBay is a huge and versatile marketplace, it is always revamped regularly to accommodate new products such as NFTs. In 2021, eBay launched a tech project known as ‘tech re-imagination’. The project made it easier for customers to trade NFTs on eBay’s official marketplace. Apart from that, eBay supports cryptocurrency exchange and anyone can buy NFTs using the supported currencies.

Earlier this year, eBay bought an NFT marketplace, which focuses on various forms of NFTs.

Thanks to Oneof (an NFT creation company), eBay created its first NFT project in May 2022. The NFT collection includes 3D and animated figures of various celebrities and athletes. The NFTs are categorized into different tiers such as diamond, gold, green, and platinum. 

With a revenue of more than $50 billion per year, eBay is one of the most popular online marketplaces.   

 

Coinbase (COIN)

With a net revenue of $7.8 billion in 2021, Coinbase is one of the biggest cryptocurrency companies. While the company was founded in 2012, it reached its peak in 2021 when the price of multiple cryptocurrency coins skyrocketed. In 2020, the company had a net income of $108 million. 

However, when Coinbase reached its peak in 2021, its income increased from $108 million to $3.6 billion.

In short, the net income increased by almost 3,000% in a span of 1 year. The huge income spike can be attributed to the huge number of users that joined the platform in 2021. As the value of various cryptocurrencies skyrocketed in 2021, Coinbase’s customer base also grew at the same rate. 

By the end of 2021, the company had acquired 42 million new users. At the moment, it has around 97 million users, and it’s safe to say that is of the most established cryptocurrency marketplaces. Since Coinbase has a very huge customer base, the company handled transactions that summed up to $1 trillion in 2021.

It is also worthwhile to note that the company manages assets worth $223 million. Unfortunately, its revenue has decreased slightly in 2022 cryptocurrency since most cryptocurrencies took a huge dip in 2022.                 

 

Wrapping Up

And there you have it, everything you need to know about NFT stocks. The trick here is to invest in companies that have a good track record in blockchain technology. Analyzing the revenue and the growth curve of companies can give you more insight into their performance. If a company grows immensely, such stocks will earn you good returns.

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