Comic book publisher DC Comics is reportedly considering entering the non-fungible token (NFT) market and wants independent artists to stay away from their action figures
Reports over the weekend suggest that comic book publisher DC Comics is currently considering entering the NFT market. According to an i09 report by Gizmodo, DC Comics’ legal office issued a letter stating the company’s intentions to enter the NFT space.
The letter revealed that DC is looking for ways to venture into the market to distribute and sell unique DC digital art using non-fungible tokens. This includes new artwork created solely for the NFT marketplace and original digital artwork developed for DC’s comic book releases.
Non-fungible tokens are becoming increasingly popular in the world of arts and collectibles. NFTs are digital certificates that are associated with a work of art and whose data is stored as a unique token on a blockchain network such as Ethereum. The main idea behind NFTs is that they serve as a digital representation of the indivisible, scarce nature of works of art in the physical world.
The report also highlighted that DC Comics had also warned its employees and freelancers against issuing NFTs that resemble the company’s licensed characters. According to Decrypt, comic book artist, José Delgo led the creation and sales of an NFT collection on the theme of Wonder Woman, which raised $ 1.85 million last week.
“Please note that you are not permitted to offer to sell DC intellectual property digital images, with or without the NFT, whether they are for DC publications or outside of the scope of our contractual commitment with DC.”added the letter.
DC Comics advised its employees to notify Lawrence Ganem, DC’s VP of Talent Services, if they have been approached by someone interested in including their DC art on an NFT program.
While DC Comics is aiming to enter the NFT market, the letter didn’t specify when the company will make the move. However, the company expects the participation of its freelance talent team to be an integral part of the proposed NFT program. The company will provide more information as it becomes available.
The NFT market has gained momentum in the past few months. Christie’s auction house sale of the Beeple NFT last week grossed $ 69.3 million, making it the most expensive NFT to date.