Is CLPS Inc An NFT Play?

One of the hottest sectors investors are looking at right now is NFTs and investors are eager to find the next company in the non-fungible token space that could take off.

What Happened: Last week, CLPS Inc CLPS was circulated on Twitter as a potential NFT play. The company offers services in the banking, financial and technology sectors.

CLPS Inc offers an online e-commerce platform and banking services. The company signed a blockchain contract with a university in China.

Related Link: Hall of Fame Resorts Stock Rallies 30% On NFL NFT Potential

Company Responds: Benzinga reached out to CLPS to find out if the company has plans to launch NFTs.

"Since NFTs are pretty new, further studies need to be done to ensure it aligns with our competitive advantage and strategy," a company spokesperson told Benzinga Monday morning.

The company said it will keep the public informed if NFTs will be “integrated in our R&D trajectory.”

Benzinga’s Take: There continues to be a large number of people circulating certain stocks as NFT plays. It's important for investors to consider their own risk in the sector and research whether companies are actively involved in NFTs.

Based on today's comments, it appears CLPS does not have immediate plans for NFTs.

Shares of CLPS Inc are up 7.6% to $6.46 at publication time.

Posted In: CryptocurrencyExclusivesMarketsMoversTrading IdeasBlockchainNFTNFTsnon-fungible token
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!