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- Stan Lee Digital Collectibles are flying off the shelves, gaining 240%-5,000% in value -TGN
Stan Lee Digital Collectibles are flying off the shelves, gaining 240%-5,000% in value -TGN
Media company Cardboard Studios (earlier, Genius brands) announced a “complete and near-immediate” sale of more than 8,000 Stan Lee digital collectibles for $120,000 in revenue.
On July 24, the company said that it, through its collaboration with the VeVe marketplace, saw these collectibles fly off the shelves.
Stan Lee, also at work Miracle writers/artists, especially Jack Kirby and Steve Ditko, produced some of the world’s most popular characters. Some of his brain children include the Hulk, Iron Man, Spider-Man, Thor, the X-Men and Black Panther, among many others.
The ‘Celebrating Stan Lee’ collection features four digital collectibles created in the Chibi style – a popular caricature style that originated in Japan and is commonly seen in anime and manga.
The collection includes: The Amazing Stan Lee (2,922 editions, rare rarity), The King of Cameos (Lee was known for his guest appearances; 2,400 editions, rare), Excelsior! (his famous comic book sign-off; 1,922 editions, extremely rare) and ‘Nuff Said! (one of his signature expressions; 1,050 editions, secretly rare).
Price increases by at least 240%
According to before VeVe, 8,294 NFTs were available for sale, each with a list price of $15 – meaning the drop brought in $120,000 in revenue.
By Monday, they were up at least 500%, Bloomberg reportedwith the cheapest collectibles at $81 and the most expensive at $749.
On Tuesday morning (CET), per VeVe Setlist, the cheapest on sale, The King of Chameos, rose 240% to $51 (9% in a day), while the most expensive, ‘Nuff Said!, rose nearly 5,000% to $755.
Vanquish! was $98 (-10% in 24 hours) and The Amazing Stan sold for just under $84.
VeVe said a 2.5% secondary market fee would be added to all sales.
Lloyd Mintz, Senior Vice President, Global Consumer Products at Kartoon Studios said that,
“That there was a full sell-through, and the fact that it was almost instantaneous, is a very strong indication of the extraordinary passion fans have for Stan Lee, and where we see the future of the Stan Lee brand.”
David Yu, CEO of VeVe Digital Collectibles, described the sale as “a major turning point in the digital collectibles market”.
Cardboard Studios, along with POW! Entertainmentowns the worldwide rights to Stan Lee’s name, physical likeness, voice, signature, etc.
It is currently running the Stan Lee Centennial campaign, which is celebrating its 100th anniversary and is the first phase of “a much broader” Stan Lee Universe program.
Meanwhile, this wasn’t the first time sales of Stan Lee-related NFTs were completed quickly: December 2021 saw the first drop of the Chakraverse NFT collection, based on superhero ‘Chakra The Invincible’, sell out within 51 seconds. A day later, the second batch was sold out within 49 seconds.
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