4 Cryptocurrency Penny Stocks With Solid Momentum in 2021
While penny stocks remain incredibly popular, cryptocurrency penny stocks have also risen to new heights in the past year or so. This popularity increase is due to a few specific factors.
For one, the entrance of new blockchain-based technologies like non-fungible tokens (NFTs) into penny stocks has inspired a new investor base in this novel industry. Additionally, the rise of cryptocurrencies like DogeCoin, in the past month or so, has shown that blockchain is here to stay.
Now, while cryptocurrencies are highly volatile, there is a lot of opportunities to be had. And, the same can be said about penny stocks. If we look at a comparison between crypto and penny stocks, we see that the two could be boosting one another in recent trading sessions. While their relationship is not easily defined, the fact that they are both relatively cheap (except for Bitcoin and Ethereum), and highly volatile, means that one can usually draw attention to the other.
Over the past few months, many well-known penny stocks have entered into the crypto, mining, and blockchain spaces respectively. And because we are only just scratching the surface, there could be a lot of potential in the long term.
Considering this, it’s still important to find a penny stock to watch that has value in and out of the blockchain market. Additionally, investors need to consider all of the usual factors like financials, and the speculative aspects affecting a company. With all of this in mind, let’s take a look at four cryptocurrency stocks with solid momentum in 2021.
4 Crypto Penny Stocks to Watch Right Now
- Hall of Fame Resort & Entertainment Co. (NASDAQ: HOFV)
- Liquid Media Group Ltd. (NASDAQ: YVR)
- Atari SA (OTCMKTS: PONGF)
- Vinco Ventures, Inc. (NASDAQ: BBIG)
1. Hall of Fame Resort & Entertainment Co. (NASDAQ: HOFV)
We’ve been covering HOFV stock for the past few months due to its sizable operations and commitment to innovation. For some context, HOFV works as an entertainment company with operations in everything from professional football to in-person entertainment venues and media destinations. This includes the Football Hall of Fame, which is a well-known sports museum venue.
Now, you’re probably wondering why an entertainment company is on a list of crypto penny stocks to watch. And, this can be answered by an announcement made a few weeks ago. On April 8th, the company announced that it had partnered with Dolphin Entertainment and Elite Holdings LLC, to develop, market, promote, and sell NFTs.
These NFTs will be focused on H2H Legends, which is a group comprised of some of the most popular NFL players to ever take the field. The first three NFT offerings will be connected to this group, however, they may develop into more in the coming months.
“As an organization that operates at the intersection of sports and entertainment, it is our responsibility to leverage the access we have to unique content to build one-of-a-kind fan engagement opportunities across all of our business verticals.
The demand for NFTs associated with sports has already been overwhelming. Given the brand partnerships we have with entities like the NFL Alumni Association, the Pro Football Hall of Fame, and many others, we will continue to create a strong pipeline of content that will excite consumers for years to come.”
Michael Crawford, CEO of HOFV
Considering this big and swift move into the NFT and crypto market, is HOFV stock worth watching?
2. Liquid Media Group Ltd. (NASDAQ: YVR)
YVR is a business solutions company offering end-to-end products for independent IP creators. This includes services such as professional video creation, packaging, financing, delivery, monetization, and more. These services allow creators to build their followings and as stated before, monetize their digital reach. Recently, the company announced a new product known as the Liquid Media Token Platform. This platform will allow users to monetize on all aspects of IP, including creation, use/subscription, financing, and licensing.
Only a few days ago, the company announced a client partnership with CurrencyWorks; a blockchain tech pioneer, to develop a platform known as NFTainment.io. This will effectively allow for “Red Carpet” NFTs with a release date as soon as May of this year.
“We’re excited to showcase the creativity and versatility NFTs can bring to fans, the entertainment industry, and IP holders. When fans get the opportunity to own never-before-seen footage or a chance to capture a rare experience with a celebrity or walk the Red Carpet at a future movie premiere, the world will quickly understand the value NFTs will offer.”
The CEO of Liquid Media, Ron Thomson
This project will coincide with the recent announcement of the Liquid Media Token Platform announced above. Because these moves make YVR a rather pure-play crypto stock, it could see more attention in the coming months. Whether it deserves a place on your penny stock watchlist, however, is up to you.
3. Atari SA (OTCMKTS: PONGF)
If you’ve played video games in the past thirty years, you’ve probably heard of Atari. This is the company that produced famous games such as Pong and Asteroids. While Atari has been flying under the radar in the past few years, it has recently begun to embark on some new business model upgrades. After a change in leadership announced earlier in the month, the company looks like it is headed into the blockchain and crypto market.
Specifically, Atari will be transitioning its business into two distinct divisions; Atari Gaming and Atari Blockchain. The gaming division of the company will offer renewed versions of its age-old games. This includes the creation of gaming assets and video console systems. It aims to bring retro gaming up to the modern era.
On the other hand, its blockchain division will work to incorporate cryptocurrency and blockchain technology into the Atari ecosystem. This includes using it as a currency in games, as well as for the creation of NFTs and blockchain-based online worlds.
It also states that it should be able to achieve positive net income for the 2020-2021 financial year, which won’t be illustrated until its next balance sheet. It’s always encouraging to see a company update its business to stay relevant in the present. And, this is exactly what Atari SA is doing right now. Because it is on the cutting-edge of what gaming can be, PONGF stock could just be worth watching.
4. Vinco Ventures, Inc. (NASDAQ: BBIG)
As the excitement surrounding NFT stocks has grown, so has speculation. Many companies with little to no actual proof of concept related to non-fungible tokens have gained interest in the stock market in 2021.
One of the biggest reasons has a lot to do with the ambiguity of the ecosystem, in general. Is it art, is it a form of ticketing, is it a collectible, is it really worth anything? Whatever the case, traders remain focused on the potential opportunity that has been created.
The initial focus was on the company’s partnership with Zash Global Media and Entertainment. Zash is led by co-founders Ted Farnsworth (financier and former MoviePass Chairman), early Musical.ly (now TikTok) investor Jaeson Ma, and early Triller board member Vincent Butta. Zash entered into a definitive agreement to acquire a majority controlling interest in Lomotif Private Limited. It’s a Singapore-based video-sharing social networking platform becoming a rival to TikTok and Kuaishou.
But the latest focus on Vinco has everything to do with the NFT craze. Step aside “TikTok” competitor, Vinco just announced the launch of a subsidiary, EVNT Platform LLC. It acquired assets from Emmersive Entertainment Inc. and will work with a proprietary platform and the large celebrity-backing that Emmersive Entertainment.
The goal is to create a new E-NFT experience. These NFT’s are planned to come to market as soon as summer, providing original artwork from top-charting musicians and All-star athletes. Instead of a “collector-only” focus, these NFTs will have more utility actually offering access to digital events and experiences.
With multiple catalysts in toe, Vinco has benefited from several exciting catalysts involving emerging technologies. As a result, BBIG joins the list of NFT penny stocks to watch right now.