Best NFT Stocks To Buy In May 2022
The NFT market is flourishing on its full these days. According to market statistics, every week over 15,000 to 17,000 NFTs are being sold and bought.
While NFTs present as the best way to gain profit from the emerging decentralized economy, it’s not the end. If NFT seems too risky or you are not yet ready to put your money into NFTs, there are still others ways.
One of the ways to earn profit from the NFTs and decentralized technologies is to invest in NFT stocks. NFT stocks are the stocks of companies that are actively investing in NFTs.
In simple words, these are stocks of the businesses that are directly or indirectly involved in the development of NFTs or their related tech.
You can easily find some of the top tech companies that are into NFTs and buy their stocks. To help you out we have a list of the most profitable NFT stocks to invest in in May 2022.
5 Most Profitable NFT Stocks To Invest In 2022
Investing in NFT stocks gives you two benefits. Firstly, you are not directly putting your money in NFTs. So, you are not taking bigger risks. Secondly, investing in stocks of companies means investing in the company as a whole. The companies run multiple projects at one time. Even if a project fails, it will not dump all your money. The company will be still alive and functional with the revenues of other projects.
So, if you are ready to invest in NFT stocks, here are some of the most profitable ones for May 2022.
Coinbase
Coinbase is the world’s largest crypto exchange platform. Observing the NFT boom in 2021, it too decided to jump into the trend. In its 2021 announcement, Coinbase envisioned launching an NFT marketplace for people to create, buy and sell NFTs.
Even before its launch, it has a waitlist of 3.7 million people. Moreover, the company has partnered with Mastercard to simplify buying and selling of NFTs.
The company is already an established and blooming crypto exchange platform and the craze for its NFT marketplace is eminent too. We expect with the launch of its marketplace, its stocks will surge high in value.
DraftKings
Draftkings is a sports betting and fantasy sports website that was founded in 2012. Draftkings stocks went public in 2019 on the NASDAQ. You would have paid slightly under $10 per share back then. The equities have gained in value by over 67% since then.
DraftKings is evolving into an online marketplace where investors may purchase and sell NFTs of well-known sportsmen. They started with a few Tom Brady NFTs and hope to expand their collection as time goes on.
Nike
Nike is a well-known name in sports clothing and apparel. It has recently purchased RTFKT, an NFT fashion startup. RTFKT is a leading NFT designer studio that has already tasted success with virtual sneakers collections.
With this purchase, Nike is looking forward to launching its own NFTs and entering the metaverse too. Moreover, the company has also received a patent to launch NFTs of its products.
Nike is ahead of its competitors with its vision to sell its products both in the real and virtual world. People are already excited about Nike’s NFT venture.
Buying Nike stocks right now will prove its worth in the coming days.
Funko
Funko Inc. is a pop culture collectibles company based in the United States that is best known for its licenced vinyl figures and bobbleheads.
If you’re unfamiliar with Funko Inc., it’s a firm that specialises in the trading of collectible pop products and is regarded as a pop culture content leader.
That implies they’re well-suited to the NFT sector, and they’ve just made a huge move in that direction with their acquisition of TokenWave.
TokenWave is a programme that keeps track of various NFT holdings. This establishes Funko Inc. as a major participant in the industry at an early stage, suggesting that its stock is worth keeping an eye on.
How To Buy NFT stocks?
Buying NFT stocks is similar to buying the stocks of any listed company. Here is our simple and brief guide on how to buy NFT stock.
You will need to have a DEMAT account to buy stocks of Indian companies listed on NSE and BSE. In case you are looking to buy stocks of foreign listed companies you will need to buy them through a third-party platform like IND Money.
However, before you decide to buy any NFT stocks, here are a few things you should focus on.
· Explore the company’s role and investment in the NFT space.
· Research about the company’s stock growth, performance and revenues.
· Keep a close eye on the company’s latest announcements and projects.
Conclusion
Investing in NFTs may or may not give you desired returns. Moreover, it’s far too risky and you might fall prey to frauds, thefts and scams.
On the other hand, NFT stocks give you the benefit of enjoying an indirect and steady profit. When you are investing in a company, you are actually putting your trust in a brand. As the company grows, your stock value will grow simultaneously. Also, it’s less risky as you do not see big international companies failing miserably every day.
NFT stocks are a great way to indirectly invest in decentralized tech and gain profit from it.
