The NFT market is heating up and investors are looking to cash in
Source | Business Insider
NFT-related stocks have been on fire over the past few weeks as investors seek exposure to the red-hot digital art market.
Shares of Takung Art, a Chinese digital art marketplace, have soared over 950% in the past two weeks alone.
The company now boasts a market cap of well over $700 million despite posting revenue of just $3.5 million and a net loss of nearly $1 million for the nine months that ended in September 2020, according to SEC filings.
Takung Art isn’t alone. Oriental Culture, an online provider of collectibles and artwork, saw its shares jump roughly 235% since the NFT craze began earlier this month.