Focused on selling high-end luxury goods, SFLMaven Corp. (OTC: SFLM) has been on investors’ radar as its weekly auction nights continue to take off. While the company has seen immense success in the jewelry and e-commerce markets, SFLM has been venturing into other industries as a part of its growth and expansion strategy. Recently, CEO Joseph Ladin teased the company’s plans to capitalize on the growing metaverse, crypto and NFTs markets. If successful, many are bullish SFLM could be among the best NFT stocks to buy in 2022.
SFLM Stock News
Last year, the NFTs market saw exponential growth to reach $41 billion and is showing no signs of stopping. As it catches up to the size of the traditional art market, it is evident the NFTs market is an opportunity worth capitalizing on. This is why in a recent interview with Money TV’s Donald Baillargeon, SFLM’s CEO – Joseph Ladin – discussed the company’s growth strategy moving forward and highlighted its efforts to penetrate this lucrative industry in 2022.
Last October, SFLM laid down the groundwork for this strategy as it signed an agreement with talented artist – Larry Calabrese – to create digital artwork. As a self-taught visual artist, Calabrese has spent years amassing an impressive collection of completed works – from physical art to digital media.
This agreement resembles the first step in creating a unique inventory of high-quality digital artwork tailored to the NFT marketplace. Ladin is bullish this partnership will “drive value for collectors and investors focused on non-fungible tokens”. Given SFLM’s 20 years’ of experience successfully auctioning rare high-end goods, this venture is already looking promising.
To support the company’s emerging NFT portfolio, SFLM signed its second talented artist – SubtleCodes. As a true visionary, SubtleCodes’ work has been featured at major events including Art Basel and Moksha Art Gallery alongside top artists such as Robert Venosa and Alex Grey. Pursuant to the terms of both agreements, SFLM is to receive 50 unique works from each artist in exchange for a cash payment as well as a 10% royalty fee on purchased NFTs to be paid on a quarterly basis.
With its now growing NFT auction portfolio, the company announced its new collectibles marketplace vision – which Ladin believes is only a step in the digital direction from SFLM’s already established foundation.” The company intends to grow its NFT division by hiring local artists and creating limited edition digital artwork for sale through auction. Ladin believes this could drive local awareness and allow the company’s NFT division to become a marketplace potentially capable of transactions involving NFTs at significant volume or through regular events.
With this initiative, the company is positioning itself in the $370 billion collectibles market. To ensure its success within the industry, SFLM is targeting several acquisitions within different sectors – including NFTs, baseball cards, coins and comic books. The company believes this strategy will be an invaluable addition to its luxury goods auction strategy – which has proved lucrative time and time again. As the company leverages its digital auction expertise and solid presence in the luxury goods market, many are bullish on SFLM’s potential to become one of the best NFT stocks to buy in 2022.
Media Sentiment
Investor @QuabbinR seems bullish on SFLM’s potential in light of its efforts to penetrate the metaverse, crypto and NFTs industries.
@SpaceManTrades highlights the company’s growth strategy in 2022.
Technical Analysis
Currently, SFLM is trading at $.0015 with an immediate support at .0014. The stock shows a primary resistance at .0017 and a secondary resistance at .0019. Accumulation is seeing an uptick following a steep downward trend. MACD is on a bearish crossover and the RSI is holding at 40 – indicating the stock is slightly oversold.
Given that the stock is currently trading near its support, bullish investors could find now a good entry point on SFLM. Even though the stock is slightly oversold, the RSI has been trending upwards and could regulate soon. As the CEO teased the company’s upcoming plans, investors are holding onto their shares in anticipation – as evident by the uptick in accumulation.
SFLM Stock Forecast
With plans in the works since Q4 2021, Ladin is bullish on the company’s growth potential in 2022 as it ventures outside its core jewelry model and into the growing NFT, crypto and metaverse industries. Even though the stock is currently trading near its support, SFLM could be poised for a reversal on news from the company or another successful auction night. If it does, then SFLM could be among the most promising NFT stocks to buy in 2022.
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