• Marvel Releases the First Official NFTs, Beginning with Spider-Man

  • The NFTs, which cost up to $400 each, is Marvel’s first official crypto collectibles, with more to follow later this month.

    When the NFT market exploded earlier this year, Marvel Entertainment didn’t immediately jump in, but in June, the comic book giant announced plans to release NFTs through the VeVe marketplace. This weekend, none other than Spider-Man will be introducing Marvel to the world of NFTs.

    Marvel and VeVe announced today that the web-swinging comic book hero will star in the first NFT release in their collaboration, with five different Spider-Man collectibles available for purchase beginning this Saturday, August 7.

    The Spider-Man digital collectibles will cost between $40 and $400, with the total edition count decreasing with each price increase. The “common” rarity Amazing Spider-Man NFT, for example, will be available to up to 32,000 buyers, whereas the “secret-rare” Ultimate Animated Spider-Man NFT will be limited to 1,000 units.

    An NFT represents ownership of a provably scarce digital item as verified by a blockchain and can take the form of a video clip, still image, tokenized tweet, or something completely different. These Spider-Man NFTs, like many other VeVe collectibles, are 3D “digital statues” that can be viewed from all angles and displayed in users’ own customizable virtual showrooms.

    Spider-Man will be the first to be released as part of this collaboration, but additional NFTs will be released throughout August, dubbed “Marvel Month” by VeVe. Later this month, VeVe will release five variant covers of “Marvel Comics #1,” the company’s original 1939 comic book that debuted the Human Torch and Sub-Mariner. That drop will be handled in a “blind box” format, with each NFT costing $6.99.

    In addition, VeVe will release a blind box series of Captain America NFTs in the form of “Marvel Mightys” digital figures. The set will feature Steve Rogers, Sam Wilson, Bucky Barnes, John F. Walker, and the Red Skull, with each blind box NFT costing $13.

    Although the VeVe collectibles are the first official NFTs created in collaboration with Marvel Entertainment, they are not the first licensed NFTs to feature Marvel characters. In 2018, 20th Century Fox collaborated with Atom Tickets to create NFT digital posters based on the film Deadpool 2, which featured Marvel characters but was not produced by Marvel Studios. Disney, which owns Marvel, later purchased 20th Century Fox.

    The wider NFT market exploded in early 2021, with $2.5 billion in transaction volume in the first half of the year, fueled by the success of NBA Top Shot, artwork drops on NFT marketplaces, and the rise of blockchain-powered games like Axie Infinity and The Sandbox. The buzz around NFTs died down in late spring and early summer, but the market has recently re-ignited due to top-dollar NFT sales and rising overall volume.

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