Why Hall Of Fame, Dolphin Entertainment Stocks Are Skyrocketing Today

The shares of Hall of Fame Resort & Entertainment HOFV and Dolphin Entertainment Company DLPN are skyrocketing in the pre-market session on Wednesday, benefiting from the non-fungible token trend.

What Happened: Hall of Fame shares are trading 98% higher at $7.98 at press time. Dolphin Entertainment shares are up 80.6% at $33.10.

Hall of Fame announced a partnership with Dolphin on Tuesday, as first reported by Benzinga, where professional football and sports entertainment fans will be able to buy and sell content as NFTs.

Speculations were rife earlier this month on Hall of Fame’s entry into the NFT space. The former special purpose acquisition company, or SPAC, has a working relationship with the NFL.

Why It Matters: NFTs continue to inspire interest, with Beeple following his $69 million NFT sale with another one — this time with the goal to promote climate change awareness.

Beeple said earlier this week, the NFT space is certainly in a bubble, but hoped that the technology will be able to survive the burst of the metaphorical bubble.

Dallas Mavericks owner Mark Cuban has also launched an online gallery displaying NFT art.

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