Kartoon Studios’ Stan Lee NFT collection swiftly sold out, achieving a remarkable 500% value increase despite a tepid NFT market.
On Monday, July 24, Kartoon Studios witnessed a remarkable reception for its Stan Lee NFT collection. Celebrating what would’ve been the legendary comic creator’s centenary, the first phase of the Stan Lee digital assets universe sold out almost immediately. This instant demand showcases the robust appetite for high-profile virtual assets, even as the NFT market struggles to regain its footing.
Stan Lee, the creator of globally beloved superheroes such as Spider-Man, the Hulk, and Iron Man, continues to command a dedicated following. The instant sell-out of more than 8,000 digital collectibles underscores his lasting legacy and popularity.
The Stan Lee collection features four digital tokens, all created in the widely loved Chibi style. Originating in Japan, Chibi is a popular caricature style often seen in anime and manga that presents characters in an exaggerated, adorable fashion.
The “Celebrating Stan Lee” collection includes:
- The King of Cameos: A token celebrating Stan Lee’s treasured cameo appearances in various media from comics to video games.
- ‘Nuff Said!: A tribute to Lee’s legendary career in the comic book industry, featuring his iconic catchphrase ‘Nuff Said’.
- Excelsior!: This token commemorates Lee’s unique comic book sign-off, ‘Excelsior!’, which translates to ‘ever upward’ – a term he chose confident his competitors wouldn’t be able to copy due to its challenging spelling.
- The Amazing Stan Lee: A collectible honoring the unforgettable comic book legend, Stan Lee.
Price Surge for Stan Lee NFT Collection
Kartoon Studios, in partnership with Veve, priced each digital collectible at US$15. The resulting total revenue from the 8,294 sold collectibles amounted to approximately US$120,000, as stated on the Veve website.
As the day progressed, the value of these digital assets skyrocketed. By Monday morning New York time, prices had escalated by a whopping 500%. The lowest-priced collectible was available for US$81 at 10.40 am, while the most expensive had reached US$749, as per data from the Veve Collectible app.
This surge in value for the Stan Lee collection sharply contrasts with the overall performance of the NFT market. Even though the crypto markets have bounced back, recording a 76% rise in Bitcoin value this year following major exchanges’ collapses such as FTX Trading and BlockFi, NFTs have lagged behind. For instance, the high-value NFT CryptoPunks has only seen a 19% increase in US dollar terms this year, according to CoinGecko.
The response to Kartoon Studios’ Stan Lee NFT collection suggests that a well-executed release can still command significant interest and value in the recovering NFT market. With this promising start, fans eagerly anticipate the next phases of the Stan Lee collectibles universe.