© Reuters. 3 NFT Stocks Wall Street Predicts Will Soar More Than 40% from Current Prices
Non-fungible tokens (NFT’s), a blockchain revolution, have taken the world by storm, and investors are scrambling to find high revenue-generating stocks that are aligned with their interest in NFTs. Amid this trend, Wall Street analysts expect fundamentally strong NFT stocks Funko (NASDAQ:), Cinedigm (NASDAQ:), and Jiayin Group (NASDAQ:) to deliver significant upside in the near term. Let’s discuss.Non-fungible tokens (NFT) are digital assets that represent various tangible and/or intangible objects, such as collectible sports cards, virtual real estate, and even digital sneakers. Digital tokens have sparked an explosion of interest among investors this year, with enthusiasts splurging on artwork and other digital products. NFT sales volumes hit $1.9 billion in August, more than 10 times March’s $148 million, on trading platform OpenSea.
The NFT market is undoubtedly here to stay as it adapts to the creative inclinations of a new digital generation, fueled by the COVID-19 pandemic and an influx of easy-to-use and cost-efficient NFT minting platforms, protocols, and markets, and growing demand from the gaming sector. According to MarketsandMarkets, the global blockchain market is expected to reach $39.7 billion by 2025, registering a 67.3% CAGR.
Given that the NFT hype is grabbing the attention of increasing numbers of investors, Wall Street analysts expect NFT stocks Funko Inc . (FNKO), Cinedigm Corp. (CIDM), and Jiayin Group Inc . (JFIN) to rally by more than 40% in price in the coming months.
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