Leading American media franchise Marvel is set to launch its first NFT collection on VeVe chain this weekend.
What Happened: In an announcement on Thursday, digital collectible platform VeVe chain said that Marvel’s series of digital collectibles centered around popular superhero Spider-Man would go live on August 7 at 8 a.m Pacific Time.
The Modern Marvel Series 1 – Spider-Man will consist of five editions of digital collectibles, ranging between $40 and $400 in price.
Two digital collectibles will be animated and were labeled “Ultra-Rare” and “Secret-Rare” by the VeVe chain.
The digital collectible platform has christened August the “Marvel Month” and expects to roll out more Marvel NFTs until the end of the month.
VeVe chain plans to offer five digital collectible versions of Marvel’s original comic book from 1939 – Marvel Comics #1, which will be handled in a blind box format.
Why It Matters: Although NFT sales appeared to slow down since its massive boom in March, the past month saw a massive uptick in the value of NFT sales.
The value of sales in July exceeded $360 million for 157,801 NFTs sold. The last week of the month, in particular, clocked $208.01 million – the highest weekly value ever reported according to data from nonfungible.com.
Comparatively, June recorded only 111,030 NFT sales worth $60 million.
The rapid increase in the value of sales coupled with interest from leading franchises like Marvel, and sports personalities like Lionel Messi, suggest that the industry is picking up steam once again.
Price Action: At press time, Bitcoin (CRYPTO: BTC) was trading at $43,415, gaining 1.66% over the past 24-hours.
The second-largest crypto by market cap, Ethereum (CRYPTO: ETH), was also up by 4.45% over the same period trading at a price of $3,025.