The NFTs which can be purchased for up to $400 each, are Marvel’s first official crypto collectibles, with more to come later this month.
When the NFT market exploded earlier this year, Marvel Entertainment didn’t immediately jump into the fray, but the comic book giant eventually announced plans to release NFTs through the VeVe marketplace in June.
It will be none other than Spider-Man who will introduce Marvel to the world of NFTs when the event takes place this weekend.
It was 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 price of the Spider-Man digital collectibles will range from $40 to $400 per item, with the total number of editions shrinking with each step up the price scale on the scale.
Examples include the “common” rarity Amazing Spider-Man NFT, which will be available to up to 32,000 buyers, as well as the “secret-rare” Ultimate Animated Spider-Man NFT, which will be available to only 1,000 buyers.
Be a part of @Marvel history! The FIRST APPEARANCE of Spider-Man in premium digital collectible format drops 07 August 8AM PT.
(3/5) #MARVELxVeVe pic.twitter.com/SDLbV8udVi— VeVe | Collecting 2.0 (@veve_official) August 4, 2021
NFTs are used to represent ownership of a digital item that has been proven to be scarce through the use of a blockchain. They can take the form of a video clip, still image, tokenized tweet, or something else entirely.
In the same way that many other VeVe collectibles are 3D “digital statues,” these Spider-Man NFTs are 3D “digital statues” that can be viewed from any angle and displayed in users’ own customizable virtual showrooms.
Initially, Spider-Man will be the first NFT to be released as part of this collaboration, but additional NFTs will be released throughout the month of August, which VeVe has dubbed “Marvel Month.”
Later in the month, VeVe will release five variant covers of “Marvel Comics #1,” the company’s original 1939 comic book that introduced characters such as the Human Torch and the Sub-Mariner, among other characters. Those NFTs will be available for $6.99 each in a “blind box” format, and the drop will be handled in that manner as well.
The company will also release a blind box series of Captain America NFTs in the form of “Marvel Mightys” digital figures, which will be distributed by VeVe. Every NFT blind box NFT will cost $13 and will include the characters Steve Rogers, Sam Wilson, Bucky Barnes, John F. Walker, and the Red Skull, with each blind box NFT selling for $13 per piece.
The VeVe collectibles are the first official non-fiction toys (NFTs) to be developed in collaboration with Marvel Entertainment, although, interestingly, they are not the first licensed NFTs to feature Marvel characters to have been developed.
NFT digital posters for the film Deadpool 2 were released in 2018 by 20th Century Fox in collaboration with Atom Tickets. Although the film features Marvel characters, it was not produced by Marvel Studios. 20th Century Fox has since been acquired by Disney, which already owns Marvel.
When it comes to the wider NFT market, things took off in early 2021, with a $2.5 billion 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-driven games such as Axie Infinity and The Sandbox.
The excitement surrounding NFTs died down in the late spring and early summer, but the market has recently re-ignited as a result of high-priced NFT sales and increased overall trading volume.