Shares of Hall of Fame Resort & Entertainment (NASDAQ: HOFV) were up more than 33% in the final hour of trading today. The stock continues to reap the benefits from its recent announcement that it plans to jump into the non-fungible token (NFT) space.
NFTs are digital files such as art, video, audio, and other files stored on blockchain , which is the digital ledger technology that powers cryptocurrencies like Bitcoin . Some NFTs have already sold for millions of dollars.
Hall of Fame Resort & Entertainment is a company that seeks to create football-themed resort and entertainment experiences. Investors had already been pumping the stock on speculation that it might jump into the NFT space.
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Why Shares of Hall of Fame Resort & Entertainment Are Starting the Week on a High Note