- The stock price of Liquid Media Group Ltd (NASDAQ: YVR) increased by 30.91%. This is why it happened.
The stock price of Liquid Media Group Ltd (NASDAQ: YVR) increased by 30.91% as it went from a previous close of $3.30 to $4.32. Investors appear to be responding to the hype around NFTs.
There is speculation that Liquid Media Group has the potential to penetrate the non-fungible token (NFT) market. An NFT is a unit of data on a blockchain where each NFT represents a unique digital item. And NFTs can represent digital files like art, audio, video, and other forms of creative work.
Some of the hype around NFTs today include Toronto-based artist Krista Kim selling an NFT-backed digital home for more than half a million dollars, Time magazine selling NFT magazine covers, and blockchain authentication company Third Millennia (founded by science fiction icon William Shatner) partnering with Mattereum to launch an initiative focused on NFT provenance. This past month, some of the most notable non-fungible token sales included Jack Dorsey’s first tweet for about $2.9 million and Beeple’s $69.35 million art piece sale. Kansas City Chiefs quarterback Patrick Mahomes also debuted an NFT collection recently, which hit $3.4 million in only 30 minutes.
And some of the other companies that saw their stock price increase today due to potential in the NFT space included Takung Art Co Ltd (+65.09%) and Jiayin Group (+78.1%).
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
