Anyone following the world of tech and investment must have come across the term NFTs recently. Non-fungible tokens or NFTs are unique assets that have valid proof of ownership of digital assets. Many people purchase NFTs associated with a specific community, such as PFP NFTs, like the Bored Ape Yacht Club NFTs. On the other hand, valuation of specific NFTs has drawn attention to the biggest NFT companies right now.
OpenSea, Rarible, and many other NFT marketplaces alongside startups have been climbing new ranks in terms of popularity. At the same time, many other big companies are also working on various NFT-based initiatives. What are some of the top NFT stocks to invest in right now? The following discussion helps you find the answer with an outline of the biggest companies investing in NFTs.
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Basic Explanation for NFTs
NFTs are unique and completely distinguishable digital assets that can help in representation of almost any physical or virtual asset. Another important highlight about “non-fungible” tokens refers to the fact that they are non-interchangeable. Ownership of an NFT pertaining to a specific asset indicates that the individual is the sole and rightful owner of the concerned asset.
The information about ownership of NFTs resides on the blockchain, thereby ensuring that it cannot be tampered with. The discussions about top companies investing in NFT have been gaining momentum, largely for the variety of assets they can represent. NFTs could represent the ownership of almost everything in the physical and digital domains. You can convert anything, including music, digital or physical artwork, video game avatars, video clips, real estate, and tweets into NFTs.
Are NFTs Really Popular?
If you want to learn about the top tech firms investing in NFT, you must be curious about the popularity of NFTs. Non-fungible tokens first arrived in 2014 as cryptocurrencies paved the road to opportunities for investments in digital assets. The popularity of NFTs has been driven by their classification as digital art.
It basically involves taking a piece of digital or physical artwork and developing a digital version of the same, which leverages blockchain technology to generate a unique code. Therefore, NFTs also feature the assurance of cryptographic security based on the foundations of blockchain. The proof of ownership and control over a specific NFT alongside cryptographic security make NFTs a viable investment tool.
The interest in NFT investment companies has been primarily driven by hefty price tags fetched by NFTs in recent times. For example, the first-ever tweet by Jack Dorsey sold for around $2.9 million as an NFT. On the other hand, a digital artwork NFT fetched almost $69 million in an auction. Even memes are not an exception, as the original ‘Doge’ meme landed up a price of $4 million as an NFT.
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Is it Reasonable to Invest in NFTs?
The popularity of NFTs exploded within no time, and many popular brands jumped in on the trend for various reasons. What companies are investing in NFT? As a matter of fact, you should ask the question about what encourages companies to invest in NFTs. Why are brands eager to dive into NFTs? The obvious responses point to the opportunity for cashing in on the opportunities in the new market and new strategies for promoting their products.
Most recently, NFTs have become one of the integral parts of digital collectibles, and brand NFTs have been gaining momentum. Some of the big names, including McDonald’s, Nike, Louis Vuitton, Taco Bell, and Gucci, have been associated with NFTs. With big brands jumping in on the NFT trend, it is reasonable to think of promising outcomes with investments in NFTs.
Top Companies Investing in NFTs
The discussion about top companies investing in NFT is essential to understand how businesses are readily adopting NFTs from now. Most people have been thinking that the NFT wildfire spreading all over the world would disappear gradually. However, the features of NFTs and their value proposition have made them one of the critical instruments for defining the future. Here is an outline of the top brands which are invested in NFTs.
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The first popular brand which emerges in discussions about biggest NFT companies would refer to Adidas. The sportswear giant introduced the first NFT drop with digital and physical products alongside linking up with top names in the world of NFTs, such as Bored Ape Yacht Club. NFTs by Adidas served access to virtual wearables in the metaverse platform, The Sandbox. In addition, buyers also received a hoodie, tracksuit, and iconic beanie. Interestingly, the brand itself has purchased a BAYC NFT, Indigo Herz. Furthermore, Adidas has also recently entered into a collaboration with Prada in January 2022 for an NFT project.
The next big mention among the NFT stocks to invest in would be eBay, one of the most popular household brands. eBay has offered the facility for customers to purchase and sell NFTs on the eBay website. On top of it, the company has also acquired a popular NFT marketplace, KnownOrigin, recently in June. Another interesting highlight in the NFT initiatives of eBay points to the creation of a unique set of NFTs. The ability of eBay to adapt to the changing demands in volatile modern markets serves as one of its formidable strengths.
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Another ecommerce giant dabbling with NFTs is Shopify. It is obviously one of the top tech firms investing in NFT, especially considering the massive user base. A recent tweet by the president of Shopify about NFTs resulted in a 19% growth for the stocks. However, the growth did not sustain as it was driven by the speculations around the news. On the other hand, the NFT program under beta testing by Shopify shows some good prospects for investors in the future. The NFT program of Shopify in the beta stage offers the facility for selling NFTs directly from stores.
The popular entry among answers to “What companies are investing in NFT?” in the food and beverages sector points to McDonald’s. The fast food giant has marked its arrival in the domain of NFTs by launching its first NFT in November 2021. McDonald’s launched a limited edition of McRib NFTs to celebrate the 40th anniversary of the McRib. The company planned the move to commemorate the return of the limited collection McRib back on its menu. The fast food restaurant chain issued around 10 MCNFTs with a virtual collectible art collection.
MCNFTs signified the way in which McRib creates excitement, even for a temporary return and limited availability. What’s interesting here is that McDonald’s used NFTs to create a sense of scarcity of a physical product. The sheer ingenuity of such NFT-based promotion would set benchmarks for the future. Who got the 10 limited edition MCNFTs?
Only the people who had retweeted the brand’s invitation. Surprisingly, the number of people who had retweeted the invitation amounted to almost 21,000 within a few hours. By the beginning of 2022, the number had jumped up to 93,000. Therefore, McDonald’s definitely qualifies as one of the top companies investing in NFT for marketing right now.
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5. Coca Cola
Coca Cola is one of the biggest entries among NFT investment companies which have tapped into the NFT market recently. The beverage company introduced its first NFT collection in 2021 and has come up with new NFT collectibles in 2022. The company has released 136 NFTs for celebrating Pride Month in July 2022 and a set of new NFTs in August 2022 for commemorating International Friendship Day. With the help of these NFTs, Coca Cola can explore new opportunities for expanding its footprint in the rapidly evolving metaverse.
The soft drink company set up its first NFT collection as a single “loot box” for auction on the OpenSea NFT marketplace. Proceeds from the auction of Coca Cola NFTs went to the Special Olympics International. The most interesting highlight about the Coca Cola NFTs is the creative incorporation of some of the iconic assets of the brand within the metaverse.
The list of top tech firms investing in NFT would also include Samsung. The electronics manufacturer announced its plans to introduce NFT support in its 2022 TV lineup. Samsung emphasized the growth of NFTs and the need for solutions to adapt to new decentralized viewing and purchasing behaviors. The company has planned on introducing the first ever NFT explorer on TV screens, which would also serve as a marketplace aggregator.
In addition, Samsung has also planned on enabling creators to share their art with the whole world. It would also offer a preview of NFTs before purchasing them to learn their history better and the blockchain metadata. On top of it, Samsung has also acquired a virtual world 837X in Decentraland metaverse, which establishes the future possibilities for the company to interact with NFTs.
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Nike counts as one of the early pioneers among top companies investing in NFT with the acquisition of RTFKT Studios, a NFT creator studio. Recently, Nike launched the first virtual sneaker collection, Cryptokicks, featuring around 20,000 unique NFTs. The Nike Cryptokicks NFT collection capitalized on the element of personalization and curiosity for garnering considerable hype. First of all, RTFKT released a NFTs of a mysterious box, referred to as MNLTH with the Nike and RTFKT brand logos. Around 8100 owners of NFTs from earlier collections of RTFKT received MNLTH without additional costs.
At the same time, the MNLTH boxes were put up for sale on OpenSea for a price of almost 5 ETH. In April, Nike announced that MNLTH owners could connect the crypto wallets to RTFKT website for opening the boxes. Each box included an image of a Nike Duck Genesis Cryptokick, a generic basketball shoe, and a virtual skin vial. The virtual skin vial helps in customizing the look of the sneaker. Nike can capitalize on sneaker NFTs for establishing a formidable presence in the future of blockchain and metaverse future.
8. Formula 1
The field of Formula 1 or F1 cannot ignore the possibilities with NFTs, at a time when brands are jumping on the NFT bandwagon. You can look for NFT stocks to invest in across many alternatives within the F1 industry. Ferrari has recently announced that it is actively exploring the opportunities for entering the NFT marketplace. Many other F1 teams such as Alfa Romeo have also made a significant mark in the field of NFTs. Alfa Romeo introduced a limited edition NFT collectible in collaboration with Socios alongside NFTs for signed souvenirs from the Brazilian Grand Prix in 2021.
Another F1 team to join the race for NFTs is Red Bull, which launched a variety of NFTs in collaboration with Sweet, an American NFT platform. Red Bull offers NFTs representing three-dimensional models of cars, helmets, cards and overalls. Furthermore, McLaren has also used Sweet for launching their McLaren Racing Collective, which allows fans to purchase individual digital components for building a complete car.
Many luxury brands have evolved as the top NFT investment companies in recent times with interesting NFT projects. Just like Gucci and Balenciaga, Prada has also joined the trend of luxury fashion brands launching their personal NFT collections. Prada launched around 100 Ethereum-based NFTs in June 2022, which would accompany the Timecapsule collection introduced by the luxury brand in December 2019.
The Timecapsule buyers would receive the free NFT airdrop for the items they purchased from Prada’s latest collection. The NFTs are basically a GIF of the black or white pill capsule and refer to the serial number of the drop. At the same time, the NFTs by Prada also feature a number related to the physical apparel items.
Ticketmaster also deserves a place among the top NFT stocks you can invest in, especially considering the scope for expansion. The good news for Ticketmaster is that it is already an active player in the domain of NFTs. The deal of Ticketmaster with NFL allows the platform to mint complementary NFTs for different NFT games by using the Ticketmaster NFT marketplace. Ticketmaster relies profoundly on the collectible aspect related to NFTs rather than other ticketing functionalities.
On top of it, the reputation of Ticketmaster for NFTs also includes an interesting highlight in the acquisition of NFT ticket startup. Furthermore, the active involvement of the platform with NFTs is evident in the job advertisement for a new NFT product manager. Ticketmaster has recently launched the advertisement for the post of a new product manager to supervise NFT ticketing tooling.
Learn the concept, elements, future and use cases of NFTs from the E-book: Non Fungible Tokens (NFTS) – A Definitive Guide
The outline of the top companies investing in NFT shows that non-fungible tokens have the power to define the future. Brands such as Burger King and McDonald’s are leveraging NFTs to transform their marketing strategies. Companies like Adidas are using NFTs to offer new customer experiences. On the other hand, tech firms like Jiayin Group, Samsung, and CyberMiles aim to offer new improvements in NFT technology.
The extensive use of NFTs has also created massive levels of competition in determining how uniquely brands could utilize non-fungible tokens. The consistent evolution of NFTs and their applications in different use cases also creates a lot of uncertainty regarding NFT stocks. Therefore, you must be careful and conduct adequate research before investing in any stocks. Learn more about NFTs and join the tech revolution now.
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*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!