What are NFT’s?
NFT stands for (Non-fungible tokens) these are cryptographic assets based on blockchain technology. NFT’s are used to represent unique digital items from Art to music, gaming assets & more.
Are we having a Gold Rush in NFT’s?
NFT’s could be the next game changing technology, but there is no doubt it feels like a Bubble.
Many Celebrities have jumped onto the NFT Bandwagon with Paris Hilton Minting her own NFT’s, and even Christies Auctions selling for an NFT for $68 Million,
How to Play the NFT Boom without getting caught out?
My favourite Quote of all time is:
“When there is a GOLD RUSH, Sell Shovels”
This quote comes from the California Gold Rush, in which most Speculators heading to California in hope of riches actually ended up broke.
Well Business people selling the tools such as Pickaxes & Levi Jeans (Yes that is how they got big) make a killing!
Thus in this case a great way to invest indirectly into NFT’s is to invest into a reputable company which is diversifying there portfolio of collectibles into the NFT space.
FUNKO STOCK ANALYSIS:
Funko creates collectible figures & has a CULT LIKE Following. Some of these collectibles sell for thousands.
The most valuable Funko Pop is the Clockwork Orange Funko which sells for $13,300!
FUNKO Entering the NFT Space:
Now Funko is entering the NFT Market after acquiring token head according to a press release put out by the company.
TokenHead is an extremely popular app which currently displays over 10 million NFTs and has more than 100,000 visits per day.
The investment accelerates Funko’s initial entry into the NFT market and will extend the Company’s pop culture platform to include digital assets, with there Funko Digital Pops.
Investing Legends into Funko Stock?
You can see Jim Simons of Renaissance Capital & Ken Griffn Both Have small stakes in Funko Stock. However, Be aware Jim Simons fund does mostly algorithmic momentum trading so don’t actually study companies.
PERSONAL TALK: I did personally speak to a smaller hedge fund manager who was very bullish on Funko before the major price increase. But it seems the majority of Wall Street could be sleeping on this stock, which could be an opportunity.
How to Play this stock? Funko stock could be a momentum trade to play the NFT BOOM. (THIS IS NOT FINANCIAL ADVICE)
Full Financial & Stock Analysis in the Video Below by Motivation 2 Invest:
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