In a rare sign, a Stan Lee NFT collection by Kartoon Studios got sold out almost instantly on Monday, adding much needed confidence to the non-fungible token (NFT) market. In the recent times, the NFT market struggled to gain traction as demand for digital collectibles slowed down.
Stan Lee NFT Sales: In Phases
According to Kartoon Studios, a batch of over 8,000 Stan Lee digital collectibles was sold out almost instantaneously. This was the first phase of the NFT collection on the occasion of Lee’s 100th birthday recently.
Stan Lee, a comic book writer, is known for creating popular superheroes including Spider-Man, the Hulk and Iron Man. The latest flash sale out of NFTs gives a glimmer of hope for stakeholders in the digital assets market, which saw a decline during the crypto winter following a phase of phenomenal demand in the bull run in 2021.
The sale of 8,294 NFTs led to a revenue generation of $120,000 for Kartoon Studios. Earlier, the NFT prices in the collection rose by as much as 5 times. The cheapest NFT available was valued at $81 while the highest valued NFT was for $749. Meanwhile, details about the next phases of Stan Lee NFT sale are yet to be revealed.
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