10 Best NFT Stocks To Buy Now

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10 Best NFT Stocks to Buy Now.
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Usman Kabir.
August 10, 2021, 5:20 PM · 8 min read.
In this article, we discuss the 10 best NFT stocks to buy now. If you want to skip our detailed analysis of these stocks, go directly to the 5 Best NFT Stocks to Buy Now .
(NFT) sales jumped to more than $2.5 billion in the first six months of 2021, according to digital analytics firm DappRadar. The figure reveals the explosion in popularity for the digital tokens this year, evidenced by the fact that NFT sales in 2020, per DappRadar calculations, stood at just $94 million. Investors eager to explore this new market should keep an eye on famous NFT stocks like Twitter, Inc. (NYSE: TWTR), Cloudflare, Inc. (NYSE: NET), and Mattel, Inc. (NASDAQ: MAT), among others.
These firms have helped make NFTs more popular. Twitter, Inc. (NYSE: TWTR) chief Jack Dorsey earlier this year sold his first tweet via NFT for nearly $3 million. Cloudflare, Inc. (NYSE: NET) has helped improve trust in digital tokens by the marketing of the new technology to enterprise clients through the products it offers. Even celebrities like Katy Perry and Jay-Z have climbed aboard the NFT train recently. In June, Perry announced the launch of a fan NFT, just days after Jay-Z revealed plans to do the same on the anniversary of his first album release.
An NFT is essentially a unit of data stored on a digital ledger. This ledger certifies that a digital asset is unique. It is used in entertainment, gaming, and artistic contexts. According to OpenSea, an NFT marketplace, monthly sales volumes for NFTs reached a record high in June, totaling $160 million. The market for NFTs seems skewed in favor of buyers. NonFungible.com, a website that tracks NFT transactions, claims that since March, when the NFT craze was at a record high, monthly buyers of NFTs have totaled up to 20,000 per week, outnumbering sellers.
There is little doubt that NFTs are fast transforming the world of online entertainment and gaming. The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletter’s stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by more than 115 percentage points (see the details here). That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.
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Our Methodology.
With this context in mind, here is our list of the 10 best NFT stocks to buy now. These were ranked keeping in mind analyst ratings, basic business fundamentals, and hedge fund sentiment.
Best NFT Stocks to Buy Now.
10. Dolphin Entertainment, Inc. ( NASDAQ: DLPN )
Number of Hedge Fund Holders: N/A.
Dolphin Entertainment, Inc. (NASDAQ: DLPN) is placed tenth on our list of 10 best NFT stocks to buy now. The firm markets entertainment and premium content services and is based in Florida. It has a market cap of close to $76 million and posted $24 million in revenue last year. In March, the firm entered into an agreement with Hall of Fame Resort & Entertainment related to NFTs. The share price of the firm had skyrocketed earlier that week after it revealed that it would be launching a division solely focused on NFTs.
In March, investment advisory Maxim maintained a Buy rating on Dolphin Entertainment, Inc. (NASDAQ: DLPN) stock and raised the price target to $28 from $10, highlighting that the firm had established a new division to focus on NFTs.
On August 2, Dolphin Entertainment, Inc. (NASDAQ: DLPN) announced that it had entered into a partnership with FTX to create large-scale NFT marketplaces for consumers who were interested in major sporting and entertainment events.
Just like Twitter, Inc. (NYSE: TWTR), Cloudflare, Inc. (NYSE: NET), and Mattel, Inc. (NASDAQ: MAT), Dolphin Entertainment, Inc. (NASDAQ: DLPN) is one of the best NFT stocks to buy now.
9. Takung Art Co., Ltd. ( NYSE: TKAT )
Number of Hedge Fund Holders: crypto wallet may make money N/A.
Takung Art Co., Ltd. (NYSE: TKAT) is ranked ninth on our list of 10 best NFT stocks to buy now. The company is based in Hong Kong. It owns and operates an online platform for artists, art dealers, and art investors who engage in trade of art pieces in China. In March this year, the share price of the firm had gained over 900% in a matter of weeks after hype on social media around NFT-related stocks. However, in the weeks afterwards, the shares started to fall and reached their lowest in May before bouncing back up.
On July 8, Takung Art Co., Ltd. (NYSE: TKAT) announced that it had entered into a deal with an institutional investor to raise $5 million in capital through the sale of 571,429 common shares at a price of $8.75 per share.
Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Takung Art Co., Ltd. (NYSE: TKAT) with 9,859 shares worth more than $335,000.
In addition to Twitter, Inc. (NYSE: TWTR), Cloudflare, Inc. (NYSE: NET), and Mattel, Inc. (NASDAQ: MAT), Takung Art Co., Ltd. (NYSE: TKAT) is one of the best NFT stocks to buy now.
8. ZK International Group Co., Ltd. ( NASDAQ: ZKIN )
Number of Hedge Fund Holders: 3.
ZK International Group Co., Ltd. (NASDAQ: ZKIN) is a Chinese company operating in the steel business. It is placed eighth on our list of 10 best NFT stocks to buy now. On July 21, the company announced that xSigma Corporation, a research and development unit of the firm, had completed the smart contract development for the launch of a non-fungible token marketplace. The company also revealed that the contract had passed an audit by Hashex. The marketplace is expected to go live this summer.
ZK International Group Co., NFT Ltd. (NASDAQ: ZKIN) has a market cap of $81 million and posted more than $86 million in revenue last year. It was founded in 2015 and employs more than 350 people. The short interest on the stock is 3.88%.
At the end of the first quarter of 2021, 3 hedge funds in the database of Insider Monkey held stakes worth $1.03 million in ZK International Group Co., Ltd. (NASDAQ: ZKIN), up from 1 the preceding quarter worth $1.07 million.
Alongside Twitter, Inc. (NYSE: TWTR), Cloudflare, Inc. (NYSE: NET), and Mattel, Inc. (NASDAQ: MAT), ZK International Group Co., Ltd. (NASDAQ: ZKIN) is one of the best NFT stocks to buy now.
7. Cinedigm Corp. ( NASDAQ: CIDM )
Number of Hedge Fund Holders: 5.
Cinedigm Corp. (NASDAQ: CIDM) is a New York-based firm that markets movie, television, and other short form content. It is ranked seventh on our list of 10 best NFT stocks to buy now. In late April this year, the company announced the launch of Fandor Selects, the first NFT film label that would concentrate on releasing limited editions of classic films. The company was founded in 2000 and has a market cap of over $260 million. In earnings results for the fourth fiscal quarter, posted on July 14, the firm beat market expectations on revenue.
On August 2, investment advisory Alliance Global Partners raised the price target on Cinedigm Corp. (NASDAQ: CIDM) stock to $3.25 from $3 and maintained a Buy rating, noting that the firm was positioned for accelerated growth in the coming months.
Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Cinedigm Corp. (NASDAQ: CIDM) with 239,551 shares worth more than $400,000.
Twitter, Inc. (NYSE: TWTR), Cloudflare, Inc. (NYSE: NET), and Mattel, Inc. (NASDAQ: MAT) are some of the best NFT stocks to buy now, in addition to Cinedigm Corp. (NASDAQ: CIDM).
6. Hall of Fame Resort & Entertainment Company ( NASDAQ: HOFV )
Number of Hedge Fund Holders: 6.
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) is placed sixth on our list of 10 best NFT stocks to buy now. The firm is headquartered in Ohio and markets resort and entertainment services. On August 2, the firm revealed that it had signed a partnership with Dolphin Entertainment for the launch of Playbook, an NFT collectible series that will showcase memorable plays from the careers of six famous athletes. The share price of the firm jumped close to 6.5% after the news was made public.
In March, investment advisory Maxim raised the price target on Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) stock to $28 from $10, reiterating a Buy rating, appreciating the shift of the firm to a content ownership model.
At the end of the first quarter of 2021, 6 hedge funds in the database of Insider Monkey held stakes worth $12.7 million in Hall of Fame Resort & Entertainment Company (NASDAQ: cryptocurrency HOFV), down from 7 the preceding quarter worth $528,000.
Twitter, Inc. (NYSE: TWTR), Cloudflare, Inc. (NYSE: NET), and Mattel, Inc. (NASDAQ: MAT) are some of the best NFT stocks to buy now, alongside Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV).
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Disclosure. None. 10 Best NFT Stocks to Buy Now is originally published on Insider Monkey.