Nonfungible tokens (NFTs) have come a long way in a relatively short period of time. In 2017, the NFT project CryptoKitties made headlines as the largest decentralized application on the Ethereum network. While CryptoKitties accounted for a notable portion of Ethereum transaction volume in 2017, these NFTs mainly served as digital collectibles geared toward the crypto community.
It wasn't until March 2021 that NFT artwork started gaining traction due to the financial potential behind these creations. This was demonstrated when digital artist Mike Winkelmann, also known as Beeple, sold his NFT piece titled "Everydays: The First 5,000 Days," which raised over $69 million through Christie's auction house. Following Beeple's sale, artwork NFTs started becoming more popular, attracting a larger audience of both creators and fans. Over one year later, innovation continues and investors are seeking opportunities in the sector.
American Leisure Holdings, Inc. (OTCMKTS: AMLH) is seeing major interest since announcing its entry into the NFT/Metaverse marketplace with the acquisition of Baller Mixed Reality. AMLH's opportunity to innovate in this space is evident BallerMixedReality.com shows impressive 3D-AR technology that could turn the collectibles market on its head. AMLH CEO Adrian Patasar noted, "The acquisition of Baller Mixed Reality is a cornerstone investment for American Leisure Holdings, and an important part of our strategy to amass strategic holdings in the Web 3.0 sector.
The quote seems to indicate more potential market-moving acquisitions in the company's future.
Funko Inc (NASDAQ:FNKO) - Earlier on in the month on April 8 the pop culture lifestyle brand company Funko Inc had come into focus after it announced that it had decided to relocate its main distribution plant in the United States. The company decided to move from a number of distributions to only one center in Washington. Funko noted that it had decided to build a new facility spanning 958000 square feet that is going to be situated in Buckeye in Arizona. Funko also noted that the new center would go on to create more than 300 jobs.
Oriental Culture Holding Ltd (NASDAQ:OCG) - Online collectibles and artwork company Oriental Culture Holding Ltd was in the news back on April 12 when it announced that it was making an entry into the metaverse space. It was announced that its operating interest entity had already signed a Capital Increase Investment Agreement with certain entities regarding this matter. The decision to enter the Metaverse space could bring the Oriental Holding stock to significant attention among investors over the course of the coming days.
Color Star Technology Co Ltd (NASDAQ:CSCW) - The next stock that could be looked into at this point in time is that of the entertainment technology company Color Star Technology Co Ltd. Not too long ago it emerged that its Singapore subsidiary Color Metaverse Pte Ltd had gone into a strategic partnership with the company Versatile Music International Ltd. The two entities are going to be involved in working with Versatile Music's foray into the online digital entertainment space. It now remains to be seen if the Color Star stock can make an upward move over the course of the coming days or not.
Takung Art Co Ltd (NYSEAMERICAN:TKAT) - Takung Art Co is best known for operating as many as three online collectibles and fine art platforms. The company has not been in the news for quite a while but back on January 7, it had made a major announcement with regards to the appointment of Kungtao Wang as its new Co-Chief Executive Officer. Wang is going to oversee the company's push into the NFT business.
Dolphin Entertainment Inc (NASDAQ:DLPN): Total revenue in the Q4 grew 57% to a record $10.5 million, compared to $6.7 million in Q4 2020. Net loss came in at $6.5 million.
Cash and cash equivalents of $7.7 million as compared to $7.9 million as of December 31, 2020.
"This has been a transformative year for Dolphin, both with respect to our balance sheet and operating income, as well as in our evolution to making investments in assets for which we believe our marketing expertise will greatly influence the likelihood of success," said Bill O'Dowd, CEO of Dolphin Entertainment.
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