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Non-fungible tokens are digital assets that represent a wide range of unique tangible and intangible items, from collectible sports cards to virtual real estate and even digital sneakers. But behind the positive picture of this blockchain game lie quite a few risks. Confusing hype, the whims of rich collectors, and the potential for fraudulent actors could add to investors’ risks in the budding space. The NFT marketplace is one which has both the potential for incredible success and catastrophic losses.
As such, we believe overvalued NFT stocks Hall of Fame Resort & Entertainment Company (HOFV), Cinedigm Corp. (CIDM), and Liquid Media Group Ltd. (YVR), which are caught up in the frenzy, should be avoided now.
