At the turn of the year, the HUMBL Inc (OTCMKTS:HMBL) stock was one of the biggest gainers among penny stocks but it has corrected quite sharply in recent times. However, on Monday, the HUMBL stock moved sharply and ended up making gains of 9.5%.
Could it be the start of another uptrend in the stock? The latest gains made by the stock were triggered by an announcement from the company yesterday. In recent times Non-Fungible Tokens (NFTs) have become hugely popular and HUMBL announced the launch of its own NFT named Gallery yesterday. It is a significant new step from the company and one which sparked optimism among investors too.
The NFTs will be made available to interested customers on the website HUMBLpay.com. The gallery is going to allow content developers to create their own NFTs to protect their interests and consumers will be able to purchase them from the website.
While it is true that HUMBL has been primarily involved with mobile payments, the company has also created a digital assets platform which is meant for blockchain based tokenization. The tokenization is aimed at real world use cases like ticketing, financial services, payments and NFTs among others.
The new NFT is going to be entirely focussed on artists, content creators and assorted entertainers across a range of fields like fashion, gaming, sports, photography and music among others. The first HUMBL NFT Gallery is going to be made up of a collection of photographs from Jared Raskind and Andrew Small.
Both photographers have been in the business for a long time and over the course of the past decade, the duo has developed collections that are meant for private groups as well as the larger public. It goes without saying that it is an important step for HUMBL and could bring about considerable revenues in the long term.