Media company Kartoon Studios (formerly, Genius Brands) announced a “complete and near-instantaneous” sale of over 8,000 Stan Lee digital collectibles for $120,000 in revenue.
On July 24, the company said that it, through its partnership with the VeVe marketplace, saw these collectibles flying off the shelves.
Stan Lee, working alsongise Marvel writers/artists, especially Jack Kirby and Steve Ditko, produced some of the globally most popular characters. Some of his brain children include the Hulk, Iron Man, Spider-Man, Thor, the X-Men, and Black Panther, and many others.
The ‘Celebrating Stan Lee’ collection features four digital collectibles created in Chibi style – a popular caricature style originating in Japan and commonly seen in anime and manga.
The collection includes: The Amazing Stan Lee (2,922 editions, rarity uncommon), The King of Cameos (Lee was well-known for his cameo appearances; 2,400 editions, rare), Excelsior! (his famous comic book sign-off; 1,922 editions, ultra rare), and ‘Nuff Said! (one of his signature expressions; 1,050 editions, secret rare).
Price Soars At Least 240%
According to VeVe, 8,294 NFTs were available for sale, each with the list price of $15 – meaning that the drop netted $120,000 in revenue.
By Monday, they had risen by least 500%, Bloomberg reported, with the cheapest collectible selling for $81 and the most expensive for $749.
On Tuesday morning (CET), per VeVe Setlist, the cheapest one available for sale, The King of Chameos, was up by 240% to $51 (down 9% in a day), while the priciest one, ‘Nuff Said!, jumped nearly 5,000% to $755.
Excelsior! was $98 (down 10% in 24 hours) and The Amazing Stan was selling for just below $84.
VeVe said that 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 complete sell through, and the fact that it was nearly instantaneous is a very strong indicator of the extraordinary passion that 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 “an important turning point in the digital collectibles market.”
Kartoon Studios, together with POW! Entertainment, owns the global rights to Stan Lee’s name, physical likeness, voice, signature, etc.
It is currently engaged in Stan Lee Centennial campaign, which celebrates his 100th birthday and is the first phase of “a much broader” Stan Lee Universe program.
Meanwhile, this was not the first time the sale of Stan Lee-related NFTs had been swiftly finished: in December 2021, the first drop of the Chakraverse NFT collection, based on superhero ‘Chakra The Invincible,’ sold out in 51 seconds. A day later, the second batch sold out in 49 seconds.
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