The top three marketplaces for NFT investments

With continuing development in the NFT ecosystem, Maxim Manturov, Head of Investment Advice at Freedom Finance Europe, outlines three NFT marketplaces with high growth potential over the next three months.

What are NFTs?
Non-fungible tokens (NFTs) are digital representations of ownership that one has of either a digital or physical object. These objects can be anything ranging from art and real estate to music, video clips, pictures, and much more. NFTs allow the buyer to have proof of ownership of whatever object they choose to buy, even if that object is not a physical item.

NFTs are quite a niche area in the market today, however, three large companies have started moving in the direction of incorporating NFT sales on their platforms.

 

The top 3 marketplaces for NFT investments 

1. Coinbase (COIN) – Coinbase’s shares have underperformed in recent months, amid a general correction in cryptocurrency and equity markets. But in 2022, the cryptocurrency broker expects new initiatives to accelerate growth.

Among them, within its subscription and services segment, Coinbase will look to debut its new NFT marketplace. According to the company, the launch of its NFT trading platform is likely to launch in early to mid-2022 and it expects its partnership with Mastercard to make it easier for users to buy ownership with credit cards.

Coinbase already has more than 2 million subscribers to its NFT trading platform and will offer Ethereum blockchain-based NFTs. The launch of the Coinbase NFT platform should be a strong catalyst for equities in 2022.

Our analysts believe £232.66 is a fair value for Coinbase shares and based on its current pricing, this represents a growth potential of 71% in its share price.

 

2. eBay (EBAY) – The online e-commerce platform eBay announced in May 2021 that it would begin conducting NFT sales. Given that the company is trusted by millions of users, it may look attractive to buy. Since the announcement of its NFT marketplace, eBay has so far provided few details about its business performance. However, the eBay Investor Day that took place on the 10th of March should give investors more clarity on the matter and could be a driving force for the stock’s future performance.

Our analysts believe that £53.04 is a fair value for eBay shares and based on its current pricing, this represents a potential growth of 30% in its share price.

 

3. Twitter (TWTR) – The social media platform is always looking for ways to stay relevant, especially when it comes to monetization. Twitter is now looking for ways to integrate NFTs into its platform. The first sign of a partnership between Twitter and NFT projects was when founder Jack Dorsey sold his first tweet for $2.5 million. The company may continue to show development in this direction, especially since Twitter is increasingly being used by NFT creators as a platform to promote their digital art.

We believe £35.67 is a fair value for Twitter’s shares and based on its current pricing, this represents a potential growth of 28% in its share price.

About Lisa Baker, Editor 2357 Articles
Lisa Baker is the Editor of Always Finance, and writes about Business, Finance Technology and Healthcare. Lisa is also the owner of Need to See IT Publishing.