There has been some discussion as of late the NFT market cooling off. The most prominent NFT collection, Bored Ape Yacht Club, has seen its floor price drop by 32% as high-end NFTs see a dip in popularity. But earlier this week, the largest NFT site in the world, OpenSea, reported its single best trading day in its existence. The site hit $476 million in Ethereum transactions thanks to the Bored Ape Yacht Club’s Metaverse land launch.
But not everyone is into high resolution JPEGs. Many are utilizing NFTs using different mediums like authentication and even music. Global NFT sales hit $25 billion in 2021 compared to just $90 million in sales for the year 2020. NFT platforms like Nifter, which recently signed a deal with Intercept Music as well as Jay Z’s Roc Nation and the Stan Lee Estate, is allowing independent and signed artists to sell their own original music as NFTs. Investors looking to get into NFTs should consider stocks like Nifter’s parent company Clickstream Corp (OTC:CLIS) or Coinbase (NASDAQ:COIN) for its NFT marketplace.