The Best NFT Stock to Buy Now

One of the best NFT stocks to buy is about to get several big catalysts at once.

NFTs, or non-fungible tokens, made a splash last month as the next big crypto investment.

A great benefit of NFTs is their ability to create revenue for the art world. Where streaming services like Spotify seem to lessen the value of music and Instagram makes visual art a dime a dozen, NFTs could reverse this impact in a huge way.

People who hold NFTs get unique ownership of a singular digital product, whether it's an NFT version of a song, album, visual art, or other. Every NFT is created on the blockchain, making it wholly unique and irreplaceable.

Today's best NFT stock benefits from timing. It's not limited to NFTs, but it is considering NFT products at the perfect time.

The stock also benefits from the grand reopening post-COVID-19.

The best part is that you're finding out before Wall Street even cares.

Here is exactly what's happening to make this the best NFT stock to buy...

The Best NFT Stock Today

One of the best NFT stocks to buy right now is Live Nation Entertainment Inc. (NYSE: LYV).

This company has the opportunity to build an entirely new revenue stream with NFTs.

Some people still think NFTs are a weird gimmick that will die out in the future. But it's likely because they don't fully understand them.

NFTs are becoming a widespread mode of ownership online. Some examples include video clips of Lebron James that sell for over $110,000 or a piece of digital art by Internet phenom Beeple that sold for $69 million.

There is money to be made in these scarce, virtual collectibles, depending on just how scarce or popular they are. Live Nation wants to take advantage of that.

The company plans to turn festival posters for its events into NFTs. In addition, Live Nation owns over 200 venues, a large offering of ticketing options, and controls many of the top festivals in the world.

That just means posters are the beginning of this company's potential with NFTs. NFTs can be used for tickets and other event merch as well.

But there's plenty more reason to look into LYV shares today...

LYV Is Also the Best "Reopening" Stock

Money Morning's Chris Johnson says there is going to be a wave of pent-up demand with certain "opening" stocks. LYV will be one of those.

People have done well ordering online and adapting to "touchless" experiences ordering food, shopping, and traveling. But they would be lying if they said they didn't miss opportunities to create memorable experiences in public.

Going to concerts was one of those, and it's one of the key areas - if not the area - that will see a huge wave of pent-up demand once vaccines are more distributed and the economy opens further.

"Everyone wants to go see live music," says Chris Johnson. "It's an experience. Everyone wants to get out and experience something."

Live Nation had what Chris calls a "kitchen-sink quarter" where all of its fundamentals simply looked bad.

The company had 90% revenue loss year over year, from $11.5 billion in 2019 to $1.9 billion in 2020.

This was no doubt from almost a total annihilation of live concerts and other events during COVID-19. The company was down 84% in concert revenue, 88% in ticket sales, and 65% in sponsorships and advertising.

Though they suffered this wave of COVID-19, it won't make the same mistake twice...

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At the start of the year, Live Nation announced it would acquire Veeps. Veeps is a streaming platform that will enable Live Nation to stream its concerts on a paid basis.

Streaming is not only an increasingly popular mode of enjoying concerts; it's also a protection against any future lockdowns. NFTs could be used for tickets or downloadable versions of the concert itself.

Normally, Live Nation would have sold 500 million tickets in a year with more than 40,000 concerts and 100 festivals worldwide. With some light at the end of the tunnel, these numbers could come back this year. Look no further than at the 83% of Live Nation customers holding their tickets for future events and events that may have been canceled.

With everything opening, Chris says the stock could see a gain of at least 40%.

What's more, right now is a chance to beat Wall Street to the punch.

Only one analyst recommends it as a buy. Only seven recommend it as a hold. Once they begin to raise their target prices and upgrade their ratings, the stock will get a pop.

Long story short, NFTs have only begun to rise in popularity. The economy is reopening. And analysts will likely upgrade the stock as a result.

So it's the perfect time to invest in a company like Live Nation.

That means it's the perfect time to profit from the stock. Of course, there is more than one way to do that...

The Best Way to Profit from This NFT Stock

Chris says the 40% target is even conservative, considering we have yet to see the full schedule for live shows going into the summer and beyond.

You could buy the stock with the hope of gaining at least as much. The stock goes for $87 right now. A 40% increase would put it around $121.80.

Another thing you could do, though, is buy call options on Live Nation. This would give you significantly more profit in a shorter time if the play is successful.

Chris recommends a long call expiring in January 2022. He says this gives "a little room to breathe" and allow the trend to really play out its full potential.

The play goes like so: Jan. 21, 2022 LYV $90 call option with $10 or lower as the limit price.

Long calls like this are typically expensive. This one is at $11.90 per contract right now (multiply that by 100, and that's what you would pay).

But when successful, long calls can be more than worth it in the end. Live Nation just seems to have all the right signals in place to make that possible.

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