TL;DR Breakdown
- Marvel, DC warns artists against selling its superheroes art as NFTs.
- Marvel working on preparing a secondary revenue window for the artists.
- Potential of NFT technology remains limitless.
Popular comic giants Marvel and DC have warned artists and ‘plagiarists’ against selling original prints of published works due to their plans of entering the nonfungible token (NFT) space.
The move is a loud statement that the firms want to maintain sole control of their intellectual property in the NFT space.
Bloomberg reported on Monday that Marvel and DC barred artists from selling NFTs of the characters they create for the company. Both firms have been leveraging on their array of comic book art to expand into the NFT scene.
Marvel foray into NFT to chun in huge profit
The comic book firm joined the NFT frenzy back in August selling digital collectibles of the Spider-Man character.
Its move to bar artists from selling its content as NFT is undoubtedly a move for the firm to coup in as much as it can on its intellectual properties.
In the past, there has been some controversy over the lack of significant payments made to comic book artists from the success of derivative media, such as Hollywood movies based on their superheroes.
However, according to Bloomberg, the entertainment firm is working on providing a secondary revenue window for artists and creators on the VeVe platform.
The entry of both Marvel and DC further endorsed the tech as major franchise has continued to interact with NFTs. Owing to the caliber of firms and individuals embracing the industry, NFTs have
risen from an obscure crypto niche to become a noticeable sector of the expanding digital economy.
As the NFT space continues to see more corporate actors, exchanges such as Binance, OKEx have also joined the frenzy, with both firms launching their NFT market recently.
Corporate brands keep launching digital collectibles and acquire popular crypto. In August, card payment giant Visa splashed about $150,000 on Crypto Punk #7610.
With NFT still evolving, the potential of the industry as regards impact and income generation is limitless.
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