Through NFTs, artists such as comic book creators are also able to generate more revenues than they would with conventional physical comic books and illustrations. The blockchain and NFTs take care of the piracy and appropriation concerns, enabling artists to preserve their IPs even in easily downloadable artworks. For digital artists, NFTs represents a new frontier and potentially lucrative revenue source and community to tap into. Today many artists are setting up a foundation in the metaverse with blockchain-based artworks. The success of the initial NFTs had a lot to do with it. How Digital Comics are Becoming PopularĪlthough initially distrusted by many mainstream comic book artists, digital art has since grown in popularity and roped many artists into the world of NFTs and the metaverse. Sales of NFTs now run into billions of dollars and NFT comic books are increasingly taking a significant chunk of transactions in NFT marketplaces. We now have comic book creations that have been registered in open blockchain ledgers, have proof of authenticity, and whose ownership and details like prior sales prices and the number of copies in circulation are easily trackable in a publicly accessible ledger. Increasingly, the traditional comic book fan base is also beginning to accept the minted blockchain-certified digital creations as collectibles. Many comic book creators are already embracing this blockchain-powered medium to extend their reach and unlock new revenue opportunities. These characteristics and value system, including the sense of community and the value users, attach to them makes comic books perfect candidates for the NFT economy. Fans love the original comic book creations that have been drawn and colored by hand by the original creators and these originals have generally fetched a premium price in auctions and aftermarkets. A lot of this stuff, particularly the prized originals, has been traded for decades. The comic-book community is also a community of collectors and traders. Over the decades, the comic book industry has evolved its own culture, value system, community, and economy that consists of creators, dealers, fans, conventions, and much more. Comic books are also something of collectibles among some of their most passionate fans. We don’t just love the characters and the plot in the comic books. Comic books have been the leading medium for character and IP creation over several decades. At face value, comic books and NFTs seem like a perfect match. One area that is seeing considerable traction in its embrace of NFTs is the comic-book industry. It has attracted artists, photographers, crypto speculators, day traders, Redditors, and even traditional institutional investors. The NFT is moving out of its gimmicky provenance (think Bored Ape Yacht Club in its early days) into more useful applications. However, it has proved its staying power over the past two years and the make-believe value is transforming itself into a real store of value that is worth something, just like cryptos, gold, or even real pieces of rare art. Initially, it was thought that the NFT was a passing fad, fueled by stimulus checks and bored techies, speculators, and creatives staying at home. It is a trend that was bucked serious players early on including top artists, museums, and top global auction houses like Christie’s. At the end of the day, investors have been buying AI-generated and blockchain-certified art pieces of sometimes dubious creative (or artistic) credentials and holding them as collectibles or trading them in some of the top NFT marketplaces like OpenSea. The NFT economy seemed to create value out of thin air. It is a creator economy that has perfectly suited digital artists and creatives who can now employ their skill and talent to create digital artwork and sell them for hundreds or thousands of dollars in NFT marketplaces. Soon an asset class emerged that traded on seemingly worthless pieces of generative art, pictures, and other creations. One of the most intriguing phenomena to have emerged from the blockchain and metaverse age has been the rise of NFTs or nonfungible tokens over the past two years.īlockchain technology and smart contracts have been around for years but the pandemic and the subsequent lockdowns forced many techies to stay and work from home and this extended stay-at-home work-at-home lifestyle shifted much of the economy and day-to-day activities into the virtual world.
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