Spider-Man is Marvel's first official NFT

Marvel has revealed Spider-Man as its first official non-fungible token (NFT), slated for release this month.

Spider-Man is Marvel's first official NFT

Marvel has revealed Spider-Man as its first official non-fungible token (NFT), slated for release this month.

Marvel has partnered with Orbis Blockchain Technologies Limited to launch the VeVe Digital Collectibles app, which basically gives the Marvel brand a new lane in the lucrative cryptocurrency and/or digital market.

Digital NFTs are a fast-growing commodity on the digital market. They enable collectors to purchase rare digital collectibles like original meme images, or high-value pieces of pop culture, music, or sports memorabilia. Now, this market will include comic book superhero memorabilia.

Marvel Entertainment President Dan Buckley said Spider-Man is one of the most legendary heroes in the Marvel Universe, so it was no surprise that we would launch VeVe with Spider-Man. Marvel fans and collectors will be able to look forward to more exciting releases throughout August and beyond."

David Yu, Co-Founder & CEO of VeVe, said, "It is great to see our collaboration with Marvel come to fruition. It is exciting for us to provide fans with the opportunity to collect Marvel Super Heroes as well as memorabilia in digital form. We are excited to celebrate Marvel Month with Marvel fans around the world using the VeVe app with Marvel."

It is stated in the press release that Veve's Spider-Man statue initiative includes:

A common Spider-Man character - the Amazing Spider-Man priced at $40.00 and with 32,000 units available.

The Amazing Spider-Man - Hangin' Out - Uncommon - $50.00 - 16,000 copies.

The Amazing Spider-Man- Jump into Action is a rare piece and is available for only $100.00 - quantity is 9,000.

Spider-Man - Animated - Ultra-Rare - $250.00 - Quantity: 2,500.

Price: $400.00 – Quantity: 1,000 Spider-Man: Ultimate Animated is a secret-rare item.

In VeVe's Marvel Month initiative, the Spider-Man series is the first of many digital statues, digital comic books, and other collectibles. During August, Marvel fans will have the chance to collect new digital products, including:

Marvel Comics #1 - In addition to the original issue released in 1939, fans will have the chance to collect five variant editions of this highly sought-after item. It will be available in a 'blind box' format for $6.99 and will have a different cover and level of rarity.

Marvel Mighty -– Super-D figures are now exclusive to the VeVe app. First of all, there will be a Captain America series that features Steve Rogers, Sam Wilson, Bucky Barnes, John F. Walker, and Red Skull. A blind box for $13.00 will also be available for each digital figure. Each figure will have a different level of rarity.

Android and iOS are both supported by the VeVe Digital Collectibles App. A variety of Marvel NFTs can be brought into the fan's collection; fans can trade for rare comic books and collectibles (even secret-rare ones), and their collection can be displayed in fully customizable virtual showrooms.

DC Comics will also be releasing NFTs someday in the future, as Marvel's archrival hinted at the possibility of the comic publisher at some point. It was only through DC Comics' legal expert that this information was made public since artists and comic book freelancers were told not to publish DC Comics-related NFTs without permission.

Market growth was sparked by the success of NBA Top Shot in early 2021 and art drops on NFT marketplaces, as well as new blockchain-based games like Axie Infinity and The Sandbox boosting transaction volume by $2.5 billion in the first half of the year. Since last spring, the hype around NFTs has largely died down, but a recent trend of top-dollar NFT sales and a rise in overall sales has reignited interest.