NFTs have become one of the hottest trends in digital media. With all the hype building around the space, traders are looking for the best NFT penny stocks to trade. Despite NFTs (non-fungible tokens) being likened to the tulip mania, there will be huge opportunities to profit from the technology before it fades. Below we have put together a list of the top NFT penny stocks to watch this year.
Remember these are highly risky stocks, only invest capital you can afford to lose.
Located in Switzerland, WISeKey labels itself as a cybersecurity company which helps create digital identity ecosystems using AI, the internet of things and blockchain technology. WISeKey claims the microchips can be used in crypto tokens, smart cars and smart cities.
The stock price has already had two big run ups in February and March, reaching a high of $20.52 on March 24th. Since then the share price has dropped to the $8.
Customers can trust WISeKey products because it leverages the blockchain to authenticate and secure online transactions. In March 2021, they developed an application to sell NFTs, showcasing the capability to protect high value digital assets.
The digital ID tech has excited retail investors who have been happy to gamble on WISeKey’s future. It remains to be seen if the technology can become a reliable revenue driver as competition heats up.
2. Liquid Media Group (NASDAQ:YVR)
Liquid Media has jumped onto the NFT bandwagon and is riding the hype beautifully. At the start of 2o21, Liquid Media was trading at $1.60 per share and reached a high of $5.31 on March 23rd. Since then the stock has been sold off quite heavily with traders keen to book quick profits. The stock continues to sell off, with $1.60 – $1.80 area set as a solid entry.
Classified as a “digital entertainment business”, their origins lie with Atari. They signed a promising deal with Atari in early March, a distribution agreement for Liquid’s SlipStream video-on-demand distribution platform. The platform can be downloaded on Atari’s VCS PC/console hybrid.
They recently announced it’s first Red Carpet NFT Drop and the launch of an NFT trading platform called NFTainment.io. The platform is in partnership with Currency Works and the Red Carpet NFTs will be released in May.
CEO Ron Thomson stated “We’re excited to showcase the creativity and versatility NFTs can bring to fans, the entertainment industry, and IP holders. When fans get the opportunity to own never before seen footage or a chance to capture a rare experience with a celebrity, the world will quickly understand the value NFTs will offer.”
With a market cap of approx $30 million, Liquid Media is a highly speculative investment.
3. Atari (OTCMKTS: PONGF)
A pioneer of modern gaming, Atari has developed into an interactive entertainment company that has influenced millions of gamers over the past decade. It’s most popular titles include the likes of Pong, Asteroids, Centipede, and Missile Command.
Under the ticker symbol PONGF, the share price began the year lingering around 44 cents and peaked at $1.15 on April 7th – a 116% gain! It sold off but not as badly as Liquid Media and trades at 80 cents.
The company’s main focus has been the launch of their console, the Atari VCS. The PC/console hybrid provides users with both gaming and entertaining in one place, wow. Atari also decided to hop onto the NFT hype train by expanding into the tokenization ecosystem with its Atari Token.
The purpose of the token is mainly for in-game purchase, which could potentially be a solid revenue source for the business. Also, to support the trading of digital games they integrated with Robot Cache, using Atari Token in the Robot Cache storefront.
Outside of tokenization of digital games, Atari is getting involved in other tokenization methods and they partnered up with Bondly for Gaming NFTs. The business is hoping NFTs will form the “backbone” of the Atari Metaverse. In addition, Atari teamed up with RTFKT Studio to create a limited NFT Atari-themed fashion series.
James Kelly is my name and penny stocks are my game! Former day trader turned long-term investor with a decade of experience in the market. Over the years, I’ve joined dozens of trading services and I aim to provide honest reviews to help traders make better decisions!