Publisher DC Comics, a subsidiary of Warner Bros. itself a unit of Time Warner, is dissatisfied with artists using its intellectual property (IP) in the form of non-fungible tokens (NFTs) and has said it has its own have plans for characters.
In a letter written by DC Comics, Jay Kogan, senior vice president, on lawsuits sent to freelancers employed by the firm on Thursday, it is stressed that it is contrary to the company’s policy of digital images with DCs’ IP with or without selling NFTs.
Kogan said DC Comics has its own plans to enter the NFT space and is currently exploring opportunities to enter the market.
Non-Fungible Tokens (NFTs) are becoming the latest collectors for fans and have generated significant pressure and buzz in the digital space. DC is exploring opportunities to enter the market for the distribution and sale of original DC digital art with NFTs, including new art created specifically for the NFT market, as well as original digital art provided for DC’s comic book publications.
As DC is investigating the complexity of the NFT market, and we are working on a reasonable and equitable solution for all parties involved, including fans and collectors, please note that the supply of digital images with DC’s intellectual property with or without NFTs offered for sale, whether delivered for DC’s publications or delivered outside the scope of your contractual relationship with DC, is not permitted. Let Lawrence Ganem, director president, Lawrence Talent Services director know if you are approached by someone who wants to include your DC art in an NFT program.
We expect that the participation of DC’s freelance talent will be an integral part of the NFT program that DC is implementing. We share further information as it becomes available, and we appreciate your cooperation and partnership.
Letter sent by DC Comics, Jay Kogan, senior vice president, litigation to freelancers in the company.
Former DC Comics artist Jose Delgo, best known for his sketches of Wonder Woman, earned $ 1.95 million by selling NFTs featuring the superhero and other licensed characters, reports Gizmodo.
Recently, NFTs have become a craze with millions of dollars being spent on rare or desirable digital artworks. On Thursday, a piece of digital artwork or NFT was sold by crypto artist Beeple for a record $ 69.3 million by auction house Christie’s.
According to NFungible.com, the NFT industry had a market capitalization of $ 338 million at the end of 2020.