NFT comic books are the natural progression for collectors who are always looking for the next big thing in the next big market. For several years now, the blockchain has been that “next big thing,” so comics have followed suit.
From independent creators to billion-dollar companies, NFTs are deeply embedded in the comic book market and will be for some time to come. In this article, we provide an overview of what to expect.
What Are NFTs?
NFT stands for “non-fungible token.” A non-fungible token is a type of cryptocurrency that represents something unique, like a piece of digital art or a virtual world item.
You can find NFTs on the blockchain. This is a decentralized ledger that records transactions. Blockchain technology makes it impossible to replicate or counterfeit NFTs.
The most popular use case for NFTs is digital art. NFTs have also been used to represent game items, like virtual land or in-game assets, all of which play directly into comic book culture. NFT comics were a natural progression.
What Are NFT Comics?
NFT comics are digital comic books that exist on the blockchain. They can take the form of traditional comic book panels, motion comics, or even 3D animations.
NFT comics are usually created by independent artists and small publishers. However, some of the biggest names in the comic book industry are now exploring the use of NFTs for their own titles.
DC Comics, for example, recently announced that it would be releasing an NFT version of Action Comics #1000. This special edition comic book will be available for purchase on the blockchain platform Ethereum.
Are NFT Comics Good?
One of the many benefits of NFT comics is that they can be traded or sold easily. For example, someone could buy an NFT comic for $100 and then sell it later for $1,000.
Another benefit is that they’re permanent. Once an NFT comic book is created, it can’t be changed or deleted. This makes them ideal for preserving the original version of a title and avoiding the George Lucas effect. That is, once a creator makes something, they can’t go back and change it.
NFTs have become popular in recent years as the price of Bitcoin and other cryptocurrencies have risen. This has led to the development of new platforms, like Ethereum, that are designed specifically for NFTs.
What Are the Risks of NFTs?
First, NFTs could lose value over time. As with ordinary collectibles, the ebbs and flows of creators, subject matter, and even societal conventions can influence the demand. As demand wanes, so, too, does the perceived value.
Furthermore, the platforms that support NFTs are still in their infancy. They’re subject to the same risks as any other cryptocurrency platform, including hacks, scams, and fraud.
That said, the potential rewards of investing in NFTs could be significant. For example, an early investor in the popular game crypto kitties made over $1 million. And many comic book artists are finding success with NFT comic versions of their past work.
NFT Comic Books Are Here to Stay
NFT comic books present a new way for collectors to enjoy their favorite hobby. They also give creators a new avenue for revenue.
In short, they could revolutionize the comic book industry in time, just as non-fungible tokens are doing with other industries. For more on blockchain technology and news, check out some of our additional posts.