Rephrase the title:Stan Lee Lives On! NFT Collection Sells Out in Seconds, Price Soars 500%

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Renowned national animation entertainment media company, Kartoon Studios, has recently partnered with the NFT collection platform VeVe to honor the legendary cartoonist Stan Lee on what would have been his 100th birthday. This joint venture brings forth a captivating digital collection of NFTs, featuring beloved characters such as Spider-Man, the Hulk, and Iron Man, in the first phase of the broader Stan Lee collectibles universe.

Fans of Stan Lee and his work are sure to be excited about this new collection. Read all about it here!

Digital collectables for $81? The Hype is Real!

Despite the current bear market for NFTs, Stan Lee’s commemorative NFTs have defied expectations, selling like hotcakes, mainly due to their affordable price of $15 each. The demand was so intense that the batch of over 8,000 digital artifacts sold out rapidly on Monday, resulting in a staggering revenue of $120,000.

This extraordinary response from fans is seen as a positive indicator for the future of the Stan Lee brand, with enthusiasts demonstrating their unwavering passion for the iconic cartoonist.

Read More: Donald Trump Discloses $1 Billion Income from NFTs

Fans Shower Their Love

Lloyd Mintz, the vice president of Kartoon Studios, expressed excitement and gratitude for the overwhelming success of their first digital collectibles. He attributes this achievement to the immense love and enthusiasm that fans have shown for Stan Lee, creating a promising outlook for the Stan Lee brand’s future endeavors.

VeVe CEO David Yu also shares the sentiment of this achievement, seeing it as a significant milestone in the NFT market. The collaboration leveraged cutting-edge technological innovations to pay homage to Stan Lee’s unparalleled legacy.

Massive Revenue and Price Surge

The sale of the Stan Lee Memorial NFTs resulted in a total of 8,294 collectibles being sold, amounting to a revenue of about $124,000 (approximately NT$3.8 million) at the $15 price point per NFT. Notably, the floor price of these NFTs experienced an astonishing surge of 466%, with a minimum increase of 500% on Monday morning, New York time.

Prices ranged from US$81 for the most affordable collectible to US$749 for the highest-priced one, as reported by the VeVe Collectible app.

Crypto’s Shining Star

While the crypto markets have faced their fair share of challenges, with Bitcoin’s value up 76% this year, NFTs have experienced a different trajectory. The highest market value NFT CryptoPunks only increased by 19% in US dollar terms, according to CoinGecko.

As of the time of writing, Bitcoin was trading at $29,122. However, despite the fluctuations in the crypto space, Stan Lee’s NFTs have emerged as a resounding success, demonstrating the enduring allure and value of these unique virtual assets.

Did you manage to get your hands on one? Tell us!