A blue chip metaverse stock with dividends! What’s not to like?
What is the metaverse? The metaverse is both futuristic and exciting. It can also be confusing and controversial. In short, the metaverse is a virtual world where you work and play as an avatar, and it’s focused on global social connections. Generally, these experiences are accessed through augmented reality (AR) or virtual reality (VR) and require a digital economy where users can create and sell goods.
With the stock market gyrating over inflation and interest rate concerns, high-growth stocks have been under pressure. I have always been a fan of a barbell portfolio with diversification to hedge risk. Today’s pick is a high-quality metaverse stock, and you might be surprised what it is.
If you aren’t familiar with the term NFT, it stands for non-fungible token, which is a cryptographic record of ownership of something unique and is recorded on a blockchain using cryptocurrency. In case you’re wondering, Ethereum (CRYPTO:ETH) is the metaverse crypto of choice, and it’s most commonly used for NFTs.
Recently, Nike (NYSE:NKE) acquired RTFKT Studios, an NFT start-up company focused on the creation of virtual sneakers and collectibles. That’s right, Nike is getting into virtual sneakers. Now you can rock the latest kicks on your avatar in the metaverse. Nike has been firing on all cylinders without non-fungible tokens, but this acquisition dumps fuel on its digital transformation fire. Not only can you get exposure to the metaverse as a shareholder of Nike, you can also collect dividends. Nike is a blue chip metaverse stock with dividends! What’s not to like?
If you are looking for more metaverse stocks and cryptos to buy now, please check out this previous video.
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*Stock prices used in the below video were during the trading day of Jan. 4, 2022. The video was published on Jan. 4, 2022.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
Eric Cuka owns Ethereum and Nike. The Motley Fool owns and recommends Ethereum and Nike. The Motley Fool has a disclosure policy. Eric is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.