Better NFT Stock: DraftKings vs. GameStop
At first glance, DraftKings (NASDAQ: DKNG) and GameStop (NYSE: GME) appear to hold little in common. One is an emerging online gaming site, while the other is an established tech retailer working to redefine itself. However, the two consumer discretionary stocks hold one key commonality -- they have hinged part of their hopes on building a non-fungible token (NFT) marketplace.
NFTs are unique, secured data attributes stored on a distributed ledger. In recent months, they have fallen out of favor, so much so that these marketplaces could become a detriment to both stocks. Still, regardless of NFTs, one stock will likely emerge as holding more potential.
NFTs surged in popularity in recent years. But according to the industry website NonFungible, interest has dropped significantly. Its sales volume fell by nearly 50% in the first quarter of 2022.
Source Fool.com
