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NFT-related stocks draw attention as digital asset buzz grows

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The popularity of non-fungible tokens, a type of digital asset that is authenticated by blockchain, is spreading to equities as investors focus on shares of online art trading platforms and companies making NFT-related announcements, sparking outsize moves in their stocks.

FILE PHOTO:"EVERYDAYS: THE FIRST 5000 DAYS" is a collage, by a digital artist BEEPLE, that is on auction at Christie's, unknown location, in this undated handout obtained by Reuters. Christie's Images LTD. 2021/BEEPLE/Handout via REUTERS

Investors also appeared to be betting that art-related companies would profit from NFT, with U.S. shares in art trading platforms Takung Art Oriental Culture Holding changing hands rapidly on Thursday. Last month, musician and artist Grimes, who is dating Tesla Chief Executive Officer Elon Musk, sold some animations she made on a website called Nifty Gateway for more than $6 million.

 

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Consider investing in some emerging artist too.. 'By the Will of Cosmos, all things are attracted to each other. Two artificial machines in love under the light of blockchain, forever.' On KnownOrigin_io

Don't be snookered by NFTs.

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