Marvel and DC comic book artists are prohibited from selling superhero NFTs.

 83 Interactions,  2 Today

The comic book publishing behemoths seek complete control over their intellectual property in the NFT domain.

Due to their rumoured aspirations for entry into the nonfungible token (NFT) market, Marvel and DC appear to be departing from the established tradition of allowing writers and artists to sell unique prints of published works.

According to Bloomberg, the two comic book staples have barred artists from selling NFTs of the characters they create for the company.

Both Marvel and DC are said to be interested in leveraging their large collections of comic book art in the developing NFT sector, which might open up a new market for selling artefacts.

Indeed, Marvel has made inroads into the NFT space before, offering digital memorabilia of the Spider-Man character in August.

By prohibiting artists from selling derivative works based on their comic book creations, companies like Marvel and DC may be denying creators a key cash stream.

See also  Despite a modest start, the tokenized real estate market might reach $1.4 trillion, according to a research.

Indeed, there has been some debate about the lack of large royalties provided to comic book artists as a result of the success of derivative media, such as Hollywood movies based on their superheroes.

However, Bloomberg reported that Marvel plans to provide secondary revenue opportunities for artists and creators on the VeVe platform.

The sale of NFTs by Marvel and DC is part of a larger trend in which prominent franchises connect with the nonfungible token ecosystem.

The NFT market has grown from obscurity to become a visible segment of the burgeoning digital economy.

Corporate companies have begun to enter the NFT industry by developing digital collectibles and acquiring well-known NFTs. Visa spent approximately $150,000 on Crypto Punk #7610 in August.

However, the tremendous rise seen throughout the summer months appears to have slowed significantly, with NFT volume on OpenSea falling by half, as previously reported.

Aside from trading activity, sales and floor prices of “blue-chip NFTs” fell in September.

See also  ‘I'm not a big fan.' Donald Trump describes Bitcoin and cryptocurrency as ‘possibly bogus.'

 

Subscribe to our newsletter

Loading

Leave a Reply

Your email address will not be published. Required fields are marked *