Stan Lee’s NFT Frenzy: Collection Sold Out in Seconds, Price Soars 500%

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Kartoon Studios, a renowned national animation entertainment media company, announced a collaboration with the NFT collection platform VeVe to launch a digital collection (NFT) in honor of Stan Lee, the legendary cartoonist, on what would have been his 100th birthday. This release marks the initial phase of a broader Stan Lee collectibles universe, featuring iconic characters like Spider-Man, the Hulk, and Iron Man.

After $15, digital collectibles cost $81? Stan Lee Craze is Insane

Despite the fact that NFTs are in the bear market, Stan Lee’s commemorative NFTs are selling like a hot cake, all because of their affordable price of $15. According to Bloomberg, the batch of over 8,000 digital artifacts sold out promptly on Monday, generating $120,000 in total revenue. The animation giant sees the sales of these NFTs as a good indicator of the Stan Lee brand’s future because fans are so passionate about him.

Lloyd Mintz, the vice president of Kartoon Studios, expressed excitement about the successful launch of their first digital collectibles, attributing the accomplishment to the immense passion and love fans have for Stan Lee, which bodes well for the future of the Stan Lee brand.

Whereas, VeVe CEO David Yu sees this sale as a significant milestone in the NFT market, utilizing cutting-edge technological innovations to commemorate the legacy of Stan Lee. 

With a total of 8,294 collectibles sold, the revenue from this sale amounted to about $124,000 (approximately NT$3.8 million) when priced at $15 per NFT.

Stan Lee Memorial NFTs surged by 500%

Notably, the floor price of the Stan Lee Memorial NFTs surged by 466%, experiencing a minimum increase of 500% on Monday morning in New York time. Prices ranged from US$81 for the cheapest collectible to US$749 for the most expensive, as reported by the VeVe Collectible app.

While the crypto markets have witnessed a resurgence after previous turmoil, with Bitcoin’s value up 76% this year, NFTs have faced challenges. The highest market value NFT CryptoPunks has increased only by 19% in US dollar terms, according to CoinGecko. 

As of writing, Bitcoin was trading at $29,122. 

Nevertheless, Stan Lee’s NFTs have proven to be a remarkable success, highlighting the enduring appeal of these unique virtual assets.