Marvel and DC seem not to be fine with the tradition of allowing writers and artists to sell unique prints of published works. The comic book giants want to maintain sole control of their intellectual property in the NFT space.
According to Bloomberg, the two comic book giants have made it illegal for artists to sell NFTs of the characters they create for them.
Both Marvel and DC are reportedly planning to use their vast collections of comic book art to tap into the growing NFT market, which could be a new market for selling collectibles. Marvel has already dabbled in the NFT market, offering digital souvenirs of the Spider-Man character in August.
Marvel and DC may be depriving creators of a key cash stream by prohibiting them from selling derivative works based on their comic book inventions.
Indeed, the lack of significant payments to comic book artists from the success of derivative media such as Hollywood movies based on their superheroes has sparked some debate.
On the VeVe platform, however, Marvel plans to provide secondary revenue opportunities for artists and creators, according to Bloomberg.
The sale of nonfungible tokens by Marvel and DC is part of a larger trend in which prominent franchises are interacting with the nonfungible token sector.
The NFT market has grown from obscurity to become a prominent sector of the growing digital economy.
By launching digital collectibles and acquiring popular NFTs, corporate brands have begun to target the NFT space. Visa, the world’s largest credit card company, invested $150,000 in Crypto Punk #7610 in August.
The massive growth seen during the summer months, however, appears to have slowed significantly, with NFT volume on OpenSea down 50%, as previously reported.
Aside from trading activity, sales and floor prices of “blue-chip NFTs” fell dramatically in September.