25/06/2021 Marvel Announces NFT Digital Collectibles Are Coming To VeVe

Marvel and VeVe are partnering to release NFT digital collectibles, changing the way fans approach collecting using a new virtual experience.

Marvel has confirmed that it is partnering with VeVe to provide fans with an NFT digital collectibles collection. NFTs have risen in popularity over the last several months. Numerous internet properties have been put up for sale and one of the biggest comic companies is about to provide potential buyers with more. Fans of Marvel will be able to purchase NFTs of Marvel-related digital collectibles starting in the next few months.

An NFT is a non-fungible token. It is a digital file with a unique identifier, unable to be completely replicated. YouTube videos, art, and sports memorabilia have all become part of the cryptocurrency market. While comics have already had a bit of a foray, this is the first of the major comic companies to begin placing NFTs up for sale. DC Comics had previously forbidden its artists from selling them independently until the company could examine the best way to proceed - though they have since placed collectible statues into VeVe's market via Immutable X. The first NFT comic has also already been sold - Xenoglyphs #1. Now, Marvel is jumping in, in a big way.

Marvel is officially entering the NFT market alongside VeVe - run by Orbis Blockchain Technologies Limited. This partnership will provide fans with the opportunity to buy digital collectibles, 3D statues, and digital comic books. Specific products have not yet been revealed, though the announcement promises further details will be coming in a few weeks. Through the VeVe app, fans will be able to not just purchase NFTs, but also "trade and hunt" for rare collectibles. There will also be "virtual showrooms" that are customizable to display digital collections.

According to Marvel Entertainment President,Dan Buckley:

Since the beginning, collecting has always gone hand in hand with being a Marvel fan. Like us, VeVe understands collecting is about the experience just as much as the product, and we look forward to extending that experience for our fans over the years to come.

Daniel Fink, Marvel Entertainment's vice president of Business Development and Strategy, elaborated on the company's partnership with VeVe:

Marvel has been exploring with VeVe how to make the Marvel digital collecting experience as special as the physical experience, and we are excited to finally be able to share this vision with our fans. Through VeVe's platform, we hope to expand the limits of what Marvel fandom can be, starting with personal and interactive digital collectibles that, through NFTs, fans can truly collect, share, and enjoy in a way that they have not been able to do before.

VeVe Digital Collectibles App is a mixed reality platform available on iOS and Android. It allows fans to use in-app currency - known as Gems - to purchase Marvel items from the company directly or from other fans in a secondary marketplace. The Gems are purchasable via credit card through in-app transactions. The app also allows users to share their photos, videos, and showrooms with friends and other fans.

David Yu, the co-founder and CEO of VeVe, remarked on the current state of fandom in the digital realm:

Today, we're seeing more fans than ever gravitate toward their screens. Fans want to watch and post about their favorite characters, talk about them on social media, and find ways to interact with these characters however they can. The VeVe Digital Collectibles App takes that idea of collecting to the next level by embodying that element of fun while also making the growing trend of NFT digital collectibles accessible for everyone.

NFTs are an unknown market performer long-term and a lot of questions have been raised about authenticity, viability, and environmental impact. To address ecological concerns, VeVe previously announced plans to be the first-ever carbon neutral NFT platform. The company has invested grants to non-profits and is committed to producing 100 percent carbon neutral NFTs. The app uses "distributed ledger technologies," which are estimated to be more energy efficient than other NFT competitors. Marvel Entertainment has clearly spent time thinking not only of their fanbase's desire for more products and unique fan experiences, but also the potential impact this new experience could have in the future. Whether these efforts will pay off or not remains to be seen.

Dan Crothers, co-founder and COO of VeVe, also discussed the approach the company has toward collecting:

We saw the opportunity back in 2017 to create something new and exciting for collectors and embarked on a multi-year journey to bring VeVe to life. Our mindset as collectors was to imitate the physical world of collecting, which fans know and love, and offer this experience in an enhanced digital format that felt exciting, authentic, and sustainable.

Marvel Unlimited Feature
While NFTs are new, this isn't entirely uncharted territory. For years now, comics have been available digitally, in addition to standard print format. Many fans have digital comic collections in addition to their physical ones. Marvel also has Marvel Unlimited, a digital comic subscription service. This form of collecting saves space, though collectibles hadn't made a similar transition - until now. This move from physical collectibles to virtual reality seems to be happening with Marvel's entry into the NFT market. Part of being a comic fan is sharing a love for comics, which this app may provide a fun new means of doing if Marvel's previous digital endeavors are anything to go by. Marvel and VeVe are bringing the big comic guns - or maybe hammers and shields - to the realm of NFTs.