NFTs Instead of Physical Comic Books, Anyone?

by Norman Robinson III

032322D-1024x536 NFTs Instead of Physical Comic Books, Anyone?Well, folks, I think we’ve seen it all in comics. Now NFTs are launching a collectibles assault on the comic book market.  How do NFT copies of our sacred comics impact the real comic book collectibles market? Of one thing, there is no doubt; this is pure speculation on steroids. It might help us to know what NFT means?

NFT stands for Non-Fungible Tokens and is different than digital copies. The NFTs are “unique cryptographic tokens that exist on a blockchain and cannot be replicated” (Source: Investopedia). Think of it as a special unique digital copy of something specific, like say a comic book.  For instance, the ever-popular Amazing Spider-Man #300 simply defies gravity and is very collectible. If you took and made it on a blockchain it would be unique and an NFT.  1_lZhpU5BGOiIUe_D-kqUhOg-300x169 NFTs Instead of Physical Comic Books, Anyone?

Can anyone guess Marvel’s next move? Yep, they are selling digital comic NFTS using the VeVe website and app. VeVe is an app for holding NFTs and creating a market platform to buy and sell your NFT collectibles on. You have something akin to a wallet in your account that holds your digital copy NFTs.

Is this a safe speculation? Will these NFTs become part of our investment portfolios or is it just titillation? 

eyJidWNrZXQiOiJnb2NvbGxlY3QuaW1hZ2VzLnB1YiIsImtleSI6IjE1ZDhiNTg0LThhOTktNGRhYS1hN2ZmLTkxNWIxZGQ2OTk1Mi5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsid2lkdGgiOjYwMH19fQ== NFTs Instead of Physical Comic Books, Anyone?

My Experiment with NFTs

I wanted to understand this phenomenon; so I went on VeVe and purchased Peter Parker The Spectacular Spider-Man #131. It is the saga with Vermin and Kraven the Hunter. This darned NFT which I probably own 3 copies of the physical version; ended up costing me $14.95 for the NFT version.

After purchasing, I noticed that the current market value for my copy of Peter Parker The Spectacular Spider-Man #131 was around $6 on the open Veve market for that book (side note, you have to buy “gems;” you can’t use real money. Then, the gems are traded like money). What happened to me? In the blink of an eye, as soon as I purchased the NFT book I was losing money. To the tune of about a negative -60% loss for Peter Parker The Spectacular Spider-Man #131. Thanks, Marvel!

Is this a precursor of more bad news to come? Unknown. The NFT market has been gaining strength in other things, primarily art and sports cards. Why not comics? I wonder, could Marvel sell their books through multiple platforms like VeVe? Meanwhile, claiming each is unique to that particular site, food for digital thought? The entire thing seems to appeal to the next generation and might take off if people start to value what they own digitally more than a physical item.

4-15-21-600x511 NFTs Instead of Physical Comic Books, Anyone?

Pyramid Scheme, or Future Speculation?

This reminds me of the old pyramid schemes where you get people to contribute money to some investment longshot. The first people in the scheme make out like bandits and everyone else looses money as, eventually, the pyramid just collapses. Then, the authorities show up and the originators of this scheme get nice shiny new bracelets called handcuffs.

However, do NFTs fit this particular model? I think we should take a moment to consider NFTs as a new medium for our portfolios, perhaps.

marvel-characters NFTs Instead of Physical Comic Books, Anyone?Marvel Money Maker

Marvel Comics is probably making a ton of money selling these. They don’t have to ship anything anywhere. A very knowledgeable comic book retail professional believes when they stop printing comics the prices for the originals will blow up.

Could the NFTs be the beginning of that process? They might very well be the beginning of the end of printed comics. If that is the case, then we could be looking at another huge uptick in prices for comics as collectibles.  Think of this, what is to stop a normal person from creating an NFT out of their existing comic book collection? 

NFT-non-fungible-token.2 NFTs Instead of Physical Comic Books, Anyone?Conclusion

In the final analysis, this Brave New World of NFTs appears to be catching on. If more, and more people, acquire and seek out digital NFTs of their favorite collectibles; will they stop buying the physical copies in the first place?  This is unknown. However, I think NFTs will have a positive impact to drive comics even higher. 

As with any potential investment or speculation, tread cautiously.  However, speculators that have made money in comics should not be afraid to dabble and be part of the NFT assault on collectibles. Remember, as the Roman poet Virgil  once said, “fortune favors the bold.” 

Have you considered comic NFTs as an investment? Let us know in the comments!

AAA-Norman-Robinson-footer NFTs Instead of Physical Comic Books, Anyone?*Any perceived investment advice is that of the freelance blogger and does not represent investment advice on behalf of GoCollect.

You may also like

18 comments

Arrow March 27, 2022 - 12:40 pm

I will personally never collect or own an NFT. I don’t care how much speculative money is to be made. If the day ever comes where that is the only option for buying new comics, I’m out. In full disclosure, I’m in my 50s. Maybe kids will go for it, but it doesn’t appeal to me.

Reply
Stone Culdesac March 28, 2022 - 10:14 pm

Same

Reply
Radys March 27, 2022 - 12:57 pm

Hi Norman,

Thanks for touching on this subject and as a long time graded book collector and VeVe collector you missed to touch on several important factors.
1-These books are readable. They are not just a 2D picture of the cover.
2-You can show off your collection. Remember those boxes of Graded books in your closet? I don’t as they just take up space and I can’t show them off. Now you can.
3-Tired of selling on EBay and worrying the book gets damaged or lost? Not an issue with NFTS
4-The VeVe market has its own dynamics and there’s a thing Called a “Gem Squeeze”. Do some tease arch on it and you will better understand pricing.
5-Lastly- Out of all the books available like Spider-Man 1, FF1, Marvel 1, you bought an insignificant book which I have intentionally avoided do to it’s lack of “Value”

So while this article brings attention to the platform and hopefully people will do their own research. I believe your short term dabble in the VeVe platform made this article premature. The reference to pyramid scheme is just as applicable to comic books when they pump do to movie specification.

Hope you find this opportunity of a VeVe dip to buy some grails and watch the grow…. They are the first Marvel licensed NFTs EVER.

Reply
Joshua Rogers March 31, 2022 - 8:26 pm

Exactly. I have lots of NFT comics from Veve missed out on two asm 252 and asm 1. Both massive growth in Value. I buy books more then likely out of my price range in physical form because it is cool to be able to own it via NFT in digital form such as marvel 1

Reply
Nek March 27, 2022 - 3:24 pm

No thank you. I may be old school, but i prefer to collect something i actually own. As this is nothing of that regard, i stay away from it.

Reply
Frank Lopiccolo March 27, 2022 - 6:18 pm

As far as “what is to stop a normal person from creating an NFT out of their existing comic book collection?”, that “normal” person would not own the copyright(s) to the comic book(s) themselves. That’s what would stop them. Otherwise, ANY “normal” person could create an NFT for ANYTHING that’s ever been created / published by someone else. A song, a painting, a novel, a sculpture, a stamp, a coin, a sports card, etc., etc.

Reply
Joyce March 27, 2022 - 9:00 pm

Veve was exploited, criminals transferred their gems inside the app, Veve made profits charging 2.5% of all transactions and now disabled accounts of the real users and kidnapped our gems and previous collectibles. Veve was scammed and wants fans pay the bill #freemyaccountveve

Reply
SJO March 27, 2022 - 10:59 pm

Norman… you raise an interesting question with: “What is to stop a normal person from creating an NFT out of their existing comic book collection?”

In a word… Copyright.

A collector may own the physical copy of a published comic, and as such, can resell it if they please. But (and I’m no lawyer), that does not give the collector the right to digitally copy it to another format, medium or anything else. After all, the collector does not own the copyright to do so.

Would they go after an individual collector? They will if these companies smell money. And they will protect their turf. After all, Marvel and DC are both cracking down on comic book artists selling NFTs of their characters. Future deals may be struck between the artists and these companies, but Marvel and DC will certainly want a slice of the pie.

As you put it, it certainly is a ‘Brave New World.’

Reply
Joseph Overaitis March 29, 2022 - 10:19 am

SJO

I am an attorney and while I will not give legal advice outside of my licensed practice area. I can tell you that what would hypothetically happen based upon my experience. You first would get a cease and desist letter from the company and possibly the artist’s attorney. Continue to try to make money and ignore the letters and you will find yourself in court. Small vendors who try to mass produce items or make one huge windfall profit will find possibly law enforcement at their door one day.

If you are a person who is not part of the process and trying to create a NFT you will not get a slice of the pie, but rather give those people everything you made and then you will probably end up covering their attorney fees. NFT are not really the wild west for attorneys. We get what they are for the most part based upon legal precedents. The real uncertainty goes to the comic artists and comic book companies’ accountants on who should be entitled to the profits based upon licensing and use agreements for the work. WORD TO WISE…IF YOU DO NOT OWN THE CHARACTER OR HAVE A LICENSE DO NOT CREATE A NFT.

Reply
Dave Stevens March 28, 2022 - 12:00 am

I don’t buy trades either, so NFT’s offer no appeal. It does sound like something where the last owner is the one holding the…well…nothing…

Reply
Robert Michael March 28, 2022 - 7:05 am

That is not what NFTs are. You are literally buying nothing. There are blocks on a chain let’s say 0 to 999. Next to each of those blocks on the chain they put a copy of a comic. That comic is just a pretty picture or comic to represent that number in the chain next to it. You do not buy it you buy the empty digital block. So they are not selling the comic but the block. This is how you DO see many copyrighted items on the NFT market for sale. You do not own the comic book, the rights to that book, or a sole digital version of that book. You own the numbered block NEXT to that digital representation of your block. You are buying nothing. So yes it really is the newest snake oil of the digital world.

Reply
Radys March 28, 2022 - 9:44 am

Remember Comixology? Digital readable comics…. Same thing just this time there’s a limited supply and an open market which makes them collectibles. These NFTS are not here to compete or replace the physical but compliments them. The recent pumps in Hero for Hire, Strange Academy, and Batman 423 were caused by the VeVe community.

Reply
Robert Michael March 28, 2022 - 11:21 am

Radys there is not actually limited supply of them though. NTFs are literally the sale of nothing but a number on a chain. That number is ASSOCIATED to the comic but you are not buying the comics or rights of the comic or even the only digital version of that comic. It is the number next to the comic. Someone else can create a new block chain and put that same comic you got to the block chain and assign it to its own unique one of a kind digital number/address and sell it. They sell the space in the chain not the image(comic) that is representing the space. If the server where the comic is stored at goes bad and is gone you still can say you own that block chain you just loose the image(comic) that was a representation of that number in the chain, since you never owned the comic. I agree with the digital readable comics as in this is just another way to sell digital comics. The only way to make them Collectible is if you can find some one who wants to pay more for your copy instead of just buying the normal non-NTF digital version of it and have the exact same(the code that makes them up would be the same) comic for a lot less.

Reply
Radys March 28, 2022 - 1:07 pm

Robert,

Just to be clear you are telling me I can take the Marvel licensed ASM 50 SR of which 600 were minted and re-mint a copy on another blockchain? Maybe You know something no one else does because that would have been fantastic when the Spider-Man was $75K.

Reply
Frank Lopiccolo March 29, 2022 - 12:28 am

So Robert M., your telling us that ANYONE can just create, for example, another NFT of Topps 1952 Mickey Mantle baseball card on a blockchain, which Topps just sold earlier this month for over $470,000, and see what we could get for our version?!? If true, then this entire concept is greatly flawed. Congress would REALLY need to regulate this industry then and create rules, standards for it……..

Reply
Lou LaRocca March 28, 2022 - 10:36 pm

That thought you had about how NFTs feel like a pyramid scheme … stay with that. You’re on the right track.

Reply
Smick March 29, 2022 - 3:51 am

LOL, Stay with that, agreed: “feel” and “intangible”. I’ll sell you an intangible bridge you can also “feel”. Should we “feel” as if we are missing out on “nothing” or “non-“ fungibles?

Reply
johnnyspruce March 29, 2022 - 11:14 pm

Why are people pushing NFTs so hard? You don’t really own the comic. Or the art. Or the card. I can make a copy of a Micky Mantle rookie card and place it as the wallpaper on my desktop. Same thing. NFTs are something that idiots latch onto, because they feel it makes them smart. NFTs are always something scammers latch onto, because they know the suckers will make them money.

Reply

Leave a Reply

%d bloggers like this: