Most Undervalued NFT Stock to Buy Right Now in 2022
Apr 21, 2022
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Some non-fungible tokens have really seen a rally throughout 2021, turning a lucky few into millionaires overnight. Investors see the appeal in owning digital art, and we see this trend becoming more popular in 2022. But ask some shrewd traders what is the best play right now, chances are they’re looking for the most undervalued NFT stock to buy right now.
We’ll be honest. Knowing when to invest in an NFT project is as important as what NFT project is worth a look. Some platforms make it easy to see all upcoming NFT projects in one place.
There are some exciting NFT projects coming up that may potentially go up in value after launch.
While this post is not meant as investment advice, we will be looking at the most promising NFT stock nowadays, and how it makes for an attractive value proposition.1
Before you invest
It should be mentioned that investing in stocks carries an inherent risk. It is all about how big is your risk tolerance and how much you are motivated to invest in.
Of course, one also needs to do their own evaluation of the company’s balance sheet before deciding to invest in.
With these considerations in mind, let us proceed.
Coinbase is the most undervalued NFT stock for 2022
You know Coinbase? Just one of the biggest cryptocurrency exchanges in the world right now?
Yeah, those guys went public in April 2021. A year later, financial pundits believe that its stock price is still undervalued.
Coinbase is still exploring ways to break big into the NFT space, and is working on its NFT venture.
To date, Coinbase has enjoyed robust growth throughout 2021:
- Net income: Up over 1,025%, from $322 million to $3.62 billion
- Monthly transacting users: Up 307%
- Assets on platform: Up nearly 209%
- Net revenue: Up over 544%, from $1.14 billion to $7.35 billion
- Trading volume: Up nearly 766%
What is Coinbase working on?
Right now, Coinbase is hard at work building its NFT marketplace that will help its huge user base buy, sell and trade cryptos and NFTs easily. And that’s not all. The popular platform also wants NFT creators to mint and launch their projects directly via Coinbase. Sounds like OpenSea is getting competition here.
Coinbase made crypto trading very simple for newbies. Now the company is hoping to do the same with its new NFT creation tools and marketplace. The idea is to provide an all-in-one hub for NFT creators to build and market their NFT collections as seamlessly as possible.
Expect Coinbase NFT to launch later this year.
What makes Coinbase an undervalued NFT stock?
Experts say that based on current prices, Coinbase stock price has a lot of upside potential.
Coinbase is currently trading at more than 50% less than its IPO launch price per share. It debuted at $381 per share.
It is a top-rated NFT stock no doubt. You will be investing in it with a huge discount.
Coinbase is the biggest crypto exchange in the US. It is also the third largest exchange of its type worldwide.
Buying an undervalued stock is just one of the many ways to increase the value of your NFT.
Given the looming integration of its multi-purpose crypto trading and NFT marketplace platforms, Coinbase share price is expected to go higher.
Will you be getting Coinbase NFT stocks?
A survey by Yahoo Finance predicts that Coinbase’s average share price could reach $315.21, an increase of 90% over $165.7 on March 4, 2022.
This could make Coinbase a solid investment for the long term.
Remember to set your expectations and budget accordingly. And last but not the least, invest only what you can afford to lose.
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