4 Best NFT Stocks to Invest in this Week

Non-fungible tokens (NFTs) have seen major growth this year. The trading volumes of these assets have skyrocketed into billions of dollars, which has led to the creation of new NFT marketplaces and NFT projects that are seeing an influx of users globally.

The boom that NFTs have enjoyed this year has been phenomenal in that major crypto firms are fighting to have a space in this area. Coinbase is currently sitting on an NFT marketplace waitlist with over one million users who have already signed up. Moreover, other leading crypto firms such as Binance and FTX have also launched NFT offerings.

An investor can invest in many ways in NFTs. The most common route that is mostly followed by retail investors is purchasing NFT art and other pieces. These ones are usually sold on NFT marketplaces, where the value is determined by the rarity of the asset or by the forces of demand and supply.

The other route that can also be used to invest in NFTs is by buying NFT stocks. These ones are ideal for diversifying one's portfolio because they will ensure that you have a piece of this rapidly growing sector.

The best 4 NFT stocks to invest in this week include the following:

1) eBay

On top of the list, we have eBay. This is one of the leading marketplaces globally in terms of trading volumes. As a major player in the eCommerce sector, the company has a wide user base and a global reach that attracts a lot of attention.

Unlike most eCommerce platforms, eBay allows consumer-to-consumer transactions, which is made possible through its proprietary website. The eBay stock makes for one of the best investments by NFT developers because of the gains that eCommerce platforms have made during the pandemic.

With the company's stocks making major gains, eBay is also venturing into the NFT sector. Earlier this year, when the concept of NFTs was still young, the platform allowed NFTs to be sold on the platform, and this has attracted much attention to these stocks. Since launching this offering, the platform has continued to make advancements in the area.

Recently, eBay entered into a partnership with Kayvon Thibodeaux to allow fans to buy a one-of-a-kind canvas. This has added to why eBay makes for one of the best NFT stocks in the market.

Not to forget that eBay has a large customer base, and besides its NFT sector, the rest of its operations continue to show major signs of growth and gains. For this reason, it tops the list of the best NFT stocks that one needs to invest in.

2) Twitter

The other company that ranks as one of the best NFT stocks that one can invest in is Twitter. Twitter ranks as a top stock not just because of its NFTs, but also because of the general offerings of the social media giant.

Twitter's market capitalization lies at more than $50 billion. Earlier this year, the CEO of Twitter, Jack Dorsey, sold his first tweet as an NFT, after which he made gains of $2.9 million. At the time, this was one of the largest NFT sales.

Dorsey has been a major cryptocurrency advocate, and recent reports show that the firm is now developing NFTs. With the firm's venture into NFT offerings and the entire crypto sector, major growth in stock has been reported, hence why Twitter ranks among the top NFT stocks to buy.

Twitter stocks are not just worthy investments by retail investors, but they have also attracted much interest from institutional investors. Over 100 hedge funds hold a stake in Twitter.

Earlier this year, Twitter's stock hit an all-time high of $80 due to developments across the social media platform. While the stock has slumped to its recent levels, it is still getting attention due to offering support to both NFTs and the general crypto sector.

In September, Twitter announced that it would allow NFT fans and creators to display virtual goods' ownership that has immense value. The social media giant is also still working on other updates to cater to the passions of super-users on the platform. The expansion of its NFT and crypto platform is a positive sign for the value of these NFT stocks in future.

3) Dolphin Entertainment

The other stock that also makes for a good investment is Dolphin Entertainment. Dolphin Entertainment is an entertainment marketing and premium content development firm. It has several subsidiaries that allow it to have a global reach, which allows it to positively affect the value of its stock.

This company works with top brands globally to push their marketing campaigns and offer other services such as social media firms and branding, production and influencer marketing services. The gains that it has made over the years in attracting different brands have made it a go-to company for those who want to build their brand in the digital-savvy world.

Besides the gains it has made in terms of the brand, it is also working on an NFT division. This division will allow the platform to enable its clients to develop, manage and market NFTs. With the NFT boom that is currently happening, recording such gains would boost the firm's brand by being a form of marketing.

The company has also launched an NFT marketplace with the partnership of FTX.US, one of the leading cryptocurrency exchange platforms in the US. The yearly gains of this stock have been impressive, and so it ranks as some of the top NFT stocks that one can invest in.

4) Cloudflare

The other top NFT stock in this list is Cloudflare. One of the major areas that NFTs have focused on is the entertainment sector, and this is why Cloudflare makes for one of the best NFT stocks that one can invest in.

Cloudflare is a streaming service that has shown immense support for creators who are venturing into NFTs. The service has allowed NFT developers to support content creators looking to publish their NFTs despite the quality of the video or the format.

Besides offering NFT services, Cloudflare has also worked with many web and software companies. The stocks of this firm have made significant gains over the years, and given that it works in a field that attracts much interest globally, the NFT stocks of this firm are expected to see major gains in the future.

Looking at the company's stock performance over the years, one can see that it has made major gains and ranks among the strongest public companies that one can choose to invest in. Moreover, NFTs have boosted much customer engagement following its launch of NFTs. It is poised to see major growth over time due to its contributions to a sector that continuously attracts attention globally.

Cloudflare recently created a service where a creator can add NFTs into the videos available on Cloudflare Stream. This offering seeks to solve the issue of piracy, which means that content developers on the platform can distribute videos across the internet while proving their ownership through embedding an NFT.

Conclusion

NFT stocks are an ideal investment strategy for an investor that wants to indirectly own a piece of something that has to do with NFTs. Some of the top NFT stocks in the market are listed above, making significant gains in recent months. The above names make for some of the best NFT stocks in the market, given that these companies have invested in NFT offerings that have attracted attention from customers.

Moreover, the stocks of these companies have been performing well on their own besides the NFT offering, which has been reflected by the gains they have made. More NFT stocks are also available in the market, and more are expected to join with more seeking to find a space in the rapidly growing NFT space.