DC Comics planning to venture into the NFT Market
Comic publisher DC Comics is reportedly looking to enter the non-fungible token market by digitalizing their characters. The company also warned independent artists and freelancers from making and selling NFT figures of their comic characters.
DC Comics will enter NFT soon
Popular comics' publisher DC Comics is set to venture into the NFT market. According to a report from Gizmodo's i09, this latest development was revealed by the company's legal department via a letter issued to staff this weekend.According to the letter, the company said it is currently exploring opportunities to venture into the market of distributing and selling C digital art with NFTs. This will include new art explicitly created for NFT purposes and the company's original digital art rendered for DC's comic book publications.
NFTs are the new rave in the cryptocurrency space. They are digital certificates connected to a piece of art. The data is stored as a unique token on blockchain networks such as Ethereum. The main idea behind NFTs is to create tokens that represent the non-divisible and scarce nature of artworks in the physical world.
DC Comics warns staff and freelancers from using their action figures
The company warned its staff and other independent freelancers from tokenizing any of its action figures. They are to stay away from characters that bear a likeness to their action figures as doing so would lead to legal actions.DC Comics is making this move to stop other artists from exploiting their characters as José Delgo did. Delgo created and sold a Wonder Woman-themed NFT collection for roughly $1.85 million last week.
NFTs are becoming popular in the art world, thanks to the massive adoption of cryptocurrencies and blockchain technology. Last week, auction house Christie's brokered the biggest NFT sale to date. A Beeple NFT was sold for $69.3 million, making it the most expensive NFT digital art so far.
DC said it would be relying on its freelance talent to participate in its NFT program. The comic book company said it would provide further information soon.
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