A day after Beeple’s digital artwork sold for a record $69 million, America’s popular comic book publisher is now joining the NFT craze with its iconic Batman character. DC Comics is the latest big-name after NBA Top Shots and Christie’s to join the non-fungible token (NFT) mania.

NFTs are basically blockchain-based cryptographic tokens that are NOT mutually interchangeable. thus, each token is unique in its way thereby suitable for representing the digital form of any scarce assets.

As per the official announcement, Veve collectibles will be working with DC Comics to launch the NFTs representing Batman Black and White digital statuses. The new NFTs have been inspired by the artwork of Darwin Cooke, Jim Lee, Jae Lee, and Gary Frank which went on sale on the Veve app on March 11.

The NFT marketplace has exploded in recent times making it a multi-million dollar industry in itself. Besides, it has completely democratized the entire online marketplace for digital artists who can leverage NFTs and sell their unique art pieces for any amount that the bidder is willing to pay.

Veve aims to offer a next-generation collectibles experience wherein users can use their favorite IPs and characters in the form of NFTs. This project has seen strong growth with its mobile app trending in the app store.

The Explosive Growth of NFTs

Just like decentralized finance (DeFi), non-fungible tokens have seen explosive growth in recent times. Although NFTs are not new to the market. The first time the NFTs became popular was back in December 2017 when the CryptoKitties game caught a wild rage.

Recently, NFTs have again gone popular with some big names participating. Also, the number of NFT marketplaces hosting different NFTs has grown exponentially.

The National Basketball Association (NBA) has recently launched its own marketplace for NFTs – NBA Top Shot – that has generated $230 million in sales. The NBA Top Shot NFTs work on the Flow blockchain created by Dapper Labs. The NFTs represent some of the top-tricks from players in short-video clips.

Source: https://coingape.com


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