Top Performing NFT Related Stocks

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A non-fungible token (NFT) is a cryptographic asset hosted on the blockchain that includes artwork, music, event tickets and other collectibles. The NFT market is estimated to be worth more than $200 billion by 2030, making NFTs the ideal digital asset for many investors to diversify their portfolios. Smart investors know the best NFT-related stocks.

Investing in NFTs directly isn’t the only way to benefit from this rapidly increasing market. Investors have the option of owning stocks in companies offering NFTs. Benzinga discovered five NFTs that could prove to be worthwhile investments. 

Quick Look at the Best NFT-Related Stocks:

eBay Inc. (NASDAQ: EBAY) is one of the biggest e-commerce companies in the world. Consumers can buy just about any household item on eBay, such as electronics, clothing, sneakers and books. eBay has added NFTs to its trading platform. It partnered with the Web3 NFT platform OneOf and launched 13 limited edition collectibles. eBay specializes in art NFTs, and its first collection featured ice hockey legend Wayne Gretzky. The collection has expanded drastically, with hundreds of pieces of artwork featured on eBay. Not only can creators use eBay to sell their NFTs, but the e-commerce giant recently bought KnownOrigin, a leading NFT marketplace.  

Known for being one of the biggest fast-food chains globally, McDonald’s Corp. (NYSE: MCD) isn’t a company you would associate with digital assets. McDonald’s created its first NFT in honor of McRib’s 40th anniversary and distributed it to fans on Twitter. But its digital transformation doesn’t end there, as McDonald’s looks to establish a presence in the metaverse. McDonald’s wants to develop a virtual restaurant but will continue to deliver physically. It has applied for 10 metaverse-related patents that enable it to provide entertainment services, NFT trading and online food delivery. The restaurant plans to offer online retail services and virtual goods and concerts.

NVIDIA Corp. (NASDAQ: NVDA) is a technology company specializing in the design and manufacturing of graphics processing units (GPUs). Founded in 1933, NVIDIA has come a long way since it built its company by developing integrated circuits. This tech giant seeks to incorporate the metaverse into its operations by offering a cloud engine for avatars, neural graphics and an Omniverse Cloud — a cloud service for developers and artists to design, publish and operate metaverse applications. NVIDIA CEO Jensen Huang said that Omniverse Cloud enables the company to offer a service that connects teams worldwide to design, build and operate virtual teams. Some of the Omniverse Cloud services include Nucleus Cloud, App Streaming, Replicator and Farm — based on 3D designs and works.

Shopify Inc. (NYSE: SHOP) is a multinational e-commerce corporation founded in 2006. It allows users to sell digital and physical products, as well as offer virtual and in-person services. Wanting its share of the NFT expanding market, Shopify enables you to sell NFTs via your Shopify store, offer them as rewards to customers and collaborate with other brands. You can sell NFTs through Shopify Payments and add a cryptocurrency payment processor. Shopify’s stock was on an upward trajectory since the beginning of 2019 when it was valued at $14. Investors who bought the stock during that period enjoyed returns of over 1,000% as it reached its ATH of $176 in November 2021. The company mistakenly assumed that the revenue boost during lockdowns was a permanent leap.

Cloudflare Inc. (NYSE: NET) is a content delivery network company. Part of its offering is Cloudflare Stream, a platform enabling video creators to store their content and create NFTs for their work on a market such as OpenSea. Videos creators will be able to streamline the service by connecting the token IDs and contact addresses to their videos. Cloudflare’s stock may appeal to risk-seeking investors.

Where to Buy

Some of these stocks aren’t well-known issues, so you’ll need to confirm ahead of time that your broker has shares available. If you aren’t sure, contact customer support and let them know which stocks you’re looking for.

Pros

Holding shares in companies offering NFTs provides investors with several benefits.

Returns: Some NFT stocks have proven to be tied to cryptocurrency markets, displaying similar price movements. That’s one of the reasons some NFT stocks managed to climb more than 1,000% during the 2021 bull run — mimicking the returns of the best cryptocurrencies.

Diversification: The NFT market is expanding rapidly, giving investors an opportunity to diversify their portfolios while potentially earning significant returns.

Opportunity to learn about blockchain: Blockchain hosts NFTs and several other digital assets. NFT stock investors can learn how blockchain can benefit them. 

Cons

Before getting involved in NFT investing, you should consider several key aspects of such stocks.

Volatility: Although some NFT stocks have provided massive returns, a crash usually followed their bull runs. 

Hosted on blockchain: An anonymous person or entity developed the blockchain where NFTs are hosted. Blockchain’s malfunction or abrupt shutdown could make NFTs obsolete and potentially sink NFT stocks.

New asset class: NFT sales have grown tremendously in the last few years. But NFTs are a new asset class with a limited history and an uncertain future.

Frequently Asked Questions