NFTs Aren’t Dead – This NFT Collection Has Just Sold Out In Seconds

Updated: 26 July 2023

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The recent hype around non-fungible tokens has faded, with many crypto investors shifting their focus to other digital assets like meme coins and crypto. However, this doesn’t mean the NFT market is dead or has stopped attracting new brands and investors.

Stan Lee NFTs Sold Out In Seconds

Earlier last week, Kartoon Studios, a global end-to-end creator, producer, distributor, marketer, and licensor of entertainment carton brands, teamed with VeVe, a digital marketplace for premium licensed digital collectibles, to launch an NFT collection.

.@TheRealStanLee was a true pioneer in the comic book industry whose work transcended generations making him a larger-than-life cultural icon!

Four chibi style digital collectibles drop in blind box Waitlist format Tue, 18 July at 8 AM PT.#SDCC2023 #CollectorsAtHeart 💙 pic.twitter.com/klXPeEEED3

— VeVe | Digital Collectibles (@veve_official) July 16, 2023

The NFT collection aimed to honor the legendary cartoonist Stan Lee on his 100th birthday. This collaboration introduces a captivating digital NFT collection, showcasing beloved characters like Spider-Man, the Hulk, and Iron Man.

Surprisingly, despite the current NFT bear market, Stan Lee’s commemorative NFTs sold like yummy hotcakes in seconds. The demand for the new NFT collection was so intense that the batch of over 8,000 NFTs sold out rapidly, raising more than $120,000 in revenue.

NFTs aren’t dead; your project’s mint price is just unrealistic.

Here’s how this Stan Lee digital collectible sold out in seconds yesterday! 👇

(1/9)🧵 pic.twitter.com/j0CiEDAVAe

— Kermit 🐸 (@crypto__kermit) July 25, 2023

What Went Right?

In the past several weeks, the non-fungible token market has suffered brutal market challenges, which has left many NFT projects in huge losses. Big and established NFT brands have recently struggled to sell their new NFTs. Last month, Azuki somewhat faced backlash despite just asking 2 ETH per mint for its new collection.

Ether is another NFT collection that also struggled to sell its new NFT collection despite lowering its mint price to just 1ETH per mint. Later, the Ether team dropped the price to 0.35 ETH but failed to mint their complete supply as it was still a hefty sum for most collectors.

The non-fungible token is rapidly expanding, and many collectors are now tied to losing funds after staking in big floor prices. In that context, the majority of collectors are now attracted to lower-priced digital assets like meme coins and NFTs. Stan Lee NFTs minted at just $15, making it gain attraction among investors.