7 Best NFT Stocks to Buy Now

The market for non-fungible tokens (NFT) is booming. Several companies have their fingers in the growing space for traders to invest in. The consensus is that our lives will become more virtual in the next few years, and perhaps everything in the metaverse can be turned into an NFT token. Therefore, investors are always looking for the best NFT stocks to catch the wind in the sector.

NFTs are practically tradable items on the blockchain, including digital artwork, selfies, music and more. As mentioned earlier, the concept of an NFT continues to evolve and is about to get much bigger with the growth of the metaverse.

Not only will the market survive, but it will likely become a bridge to the potentially trillion dollar metaverse industry. According to Jefferies, the NFT market could be worth as much as $80 billion by 2025.

eBay (EBAY)

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The consensus among investors is that eBay (NASDAQ:EBAY) is at a bit of a crossroads. Naturally, with the fading of the pandemic, the business has returned to normal and seems significantly less attractive compared to a couple of years ago. However, eBay has effectively used the pandemic boost to foray into more profitable verticals in hopes of reimagining the platform.

Last year, it took advantage of the NFT craze to bolster its collectibles-focused initiatives. Moreover, it also launched a vault service that effectively protects the physical assets of its customers. Trading cards were a huge hit during the pandemic, and their popularity continues to grow incredibly.

Most recently, the company acquired KnownOrigin, considered one of the first and largest NFT marketplaces. The partnership is likely to attract a wave of NFT collectors and creators to eBay. I expect similar announcements to come in the coming months as eBay adds new blockchain-specific features to its platform.

Funko (FNKO)

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Toy manufacturer Funko (NASDAQ:FNKO) has established itself as a growth player in the pop culture product industry.

It has demonstrated an unparalleled ability to source and monetize content. Also, no single brand dominates the revenue stream, making it a highly diversified business that benefits enormously from the growth in entertainment and culture.

Funko expanded its popular pop culture platform into digital assets last year with the acquisition of TokenWave. Token Wave attracts over 100,000 daily visitors to its platform, enabling them to showcase and track NFTs.

Funko stated that the initial token offerings sold out in minutes. Most recently, it acquired collectibles business Mondo, which it would effectively integrate with TokenWave. As we move forward, these moves could add greatly to Funko’s top line growth.

Roof Art (TKAT)

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Roof Art (NYSEAMERICAN:TKAT) is a Hong Kong-based online marketplace for the sale and trade of artwork. The platform provides access to a massive art trading market connecting a diverse group of investors. TKAT shares rose enormously last year on speculation from investors that it may jump into the NFT space.

It seemed like an ideal platform to sell NFTs, and it eventually rolled out a crypto-centric website to start its NFT market business. Since its launch, there have been over 60 products listed on the platform and over 107 new users, generating approximately 40 transactions.

According to CEO Kaungtao Wang, “The launch of our own NFT platform and the completion of transactions on the platform solidified our business strategy. We will further promote our platform to stimulate the sustainable growth of our business.”

Coinbase Global (COIN)

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Coinbase Global (NASDAQ:COIN) is the best crypto trading and investment platform. The user base has risen at an astronomical rate from 22 million in 2018 to 56 million last year.

The platform has been hugely successful and has made crypto trading much easier. Coinbase recently jumped on the NFT bandwagon and released a specialized marketplace.

The NFT marketplace currently has a limited number of collections and users. However, it is a big step towards culminating a bigger vision of becoming the digital platform for crypto investors.

Commenting on the launch of Coinbase’s NFT platform, CEO Brian Armstrong said that NFTs have the potential to become an even bigger business than crypto trading.

Oriental cultural team (OCG)

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Oriental cultural team (NASDAQ:OCG) is a Chinese e-commerce platform for collectors, art dealers and artists to sell their paintings, collectibles and other physical items. Revenue doubled last year to an impressive $37.6 million. Also, the active traders increased to 159,000 from 77,000 in 2020.

It recently announced that it had entered into a contract with Heng Well Information Technology to collaborate on blockchain-based products, particularly in NFTs. In addition, Oriental’s subsidiary in Hong Kong will offer services to create NFTs for works of art and cultural collections.

In addition, the e-commerce will also be upgraded to facilitate auctions and trading of NFTs.

Dolphin entertainment (DLPN)

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Dolphin entertainment (NASDAQ:DLPN) is perhaps one of the more fascinating NFT plays. It runs a marketing and content production company that caters to some of the leading enterprises across various industries.

Management decided to usher in the next phase of growth for the company with the launch of the two initiatives. A large portion of these plans are NFT drops, where incremental costs are low, and revenue is almost pure profit for the business.

It has partnered with various companies and private entities to launch NFT collections. Last year, it partnered with crypto exchange FTX.US to develop NFT marketplaces for top sports and entertainment brands.

Additionally, Dolphin’s Web3 marketing and consulting business, We Come In Peace (WCIP), announced the development of an extensive list of NFT projects for its metaverse clients. The list continues regarding DLPN’s initiatives in the NFT space, which it expects to generate significant revenue for the foreseeable future.

Defiance Digital Revolution ETF (NFTZ)

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Defiance Digital Revolution ETF (SNEEZE:NFTZ) is one of the best ways to play the growing NFT and blockchain market at a lower price.

Investing in ETFs allows investors to effectively cut out the middleman and gain a stake in some of the most profitable businesses in a particular sector. The NFTZ ETF has equity holdings of some of the biggest names in NFT, blockchain, eCommerce and related verticals.

In addition, it offers an expense ratio of 0.65%, and investments in the leading top-10 stocks are close to 50%. Some of the stocks it invested in include eBay, Coinbase, Hut 8 Mining and others.

At the date of publication, Muslim Farooque did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to the InvestorPlace.com Publishing Guidelines.