Marvel Entertainment and Orbis Blockchain Technologies Limited have partnered with Veve Digital Collectibles and announced the launch of the first-ever Spider-Man Non-Fungible Token during the ‘Marvel Month’ celebration.

This token is part of the Modern Marvel Series 1 — Spider-Man. The Spider-Man NFT will go live tomorrow at 8 a.m. (PT) on the VeVe Digital platform. The NFT collection is supported by Immutable X, a second-layer network for the Ethereum blockchain.

The Veve press release has categorized the five tokenized spiderman statue figures as follows;

• Common – Spider-Man – The Amazing Spider-Man Price: $40.00 – Quantity: 32,000
• Uncommon – Spider-Man – Hangin’ Out Price: $50.00 – Quantity: 16,000
• Rare – Spider-Man – Jump Into Action Price: $100.00 – Quantity: 9,000
• Ultra-Rare – Spider-Man – Animated Price: $250.00 – Quantity: 2,500
• Secret-Rare – Spider-Man – Ultimate Animated Price: $400.00 – Quantity: 1,000

Upcoming Marvel Superhero tokens

However, the First Spider-Man NFT has only marked the beginning of VeVe’s NFT partnership with Marvel Entertainment as the collectible platform confirms more upcoming Superhero tokens from Marvel like Wolverine, Iron Man, and Captain America, along with digital comic books.

“Spider-Man is one of the most legendary superheroes in the Marvel Universe, so there was no better way to kick off our global digital collectibles experience with Veve…We can’t wait to bring Marvel fans and collectors even more exciting drops throughout August and beyond.”, said Dan Buckley, the president of Marvel Entertainment.

NFT market’s evolution in 2021

The Non-Fungible Token market has gained raging popularity in the second half of 2021. The trend has taken over all market spheres, from traditional auction houses and multi-million-dollar art galleries; to commercial giants like Coca-Cola, Sports legends, and even High-fashion brands.

Today, the NFTs that are getting support from entertainment giants, were launching at high risk regardless of intellectual property claims at the beginning of 2021.

DC Comics sent a letter to freelancers this March, warning against selling tokenized versions of their intellectual property on blockchain networks. The open letter was issued to freelancers from Jay Kogan, DC Comics’ senior VP of legal affairs. The letter stated that DC is working up towards entering the market of non-fungible tokens, but creators are not allowed to sell DC’s intellectual property with or without NFTs, lacking the company’s permission.

About Author

Palak Malhotra

Journalism & Mass Comm. ‘21 graduate, Palak is a GenZ journalist with background in Lifestyle journalism & PR. At CoinGape, Palak is a junior crypto journalist preparing for Web 3.0