VISA Integrating NFTs??

Estimated Read Time: 6 min

Hey friends,

Delighted to have you back on today's edition of Morning NFTea. We've curated the latest and best NFT stories from DC’s first NFT comics to Visa's new NFT trademark applications, so let's jump into it!

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DC Releases First NFT Comics

It's no doubt that comic books have been one of the most influential aspects to pop culture since DC and Marvel first unveiled their iconic characters back in the 1930’s. In doing so, they fueled a $9 billion comic collecting industry, so it was only a matter of time until NFTs infiltrated this historical market. Earlier this week, DC Entertainment announced their first NFT comics as they enter a new phase of their Web3 expansion by launching nft.dcuniverse.com, enabling users to buy, sell and trade their unique digital comics. DC kickstarted their new weekly drops with Superman #1 as the first NFT comic in a collection of 3,000 which could be minted for $9.99, which isn't a bad price considering real-life collectible Superman #1 comics have gone for $5.3 million.

On the announcement, DC Senior Vice President, Anne DePies, said “We want to take the physical, real-world experience of collecting comics that so many of our readers have loved over the years and expand that into a new digital community… We want to build that community aspect that everyone has been so proud to be a part of, in our digital ecosystem to make comic collecting more available and accessible than ever before”. When purchasing these legacy collection NFTs, the comics will have Common, Uncommon, Rare, Epic, or Legendary rarity traits that coincide with digital wear and tear, reflecting how real-life grading works in the comic book industry. In a previous edition, we talked about Warner Brothers launching their first NFT movies, so with DC entertainment being a subsidiary of Warner Bros, it's no surprise to see them also Web3-ify comics. This shows the potential to bring back collecting comics/books in a digital format that increases its accessibility to every corner of the globe.

Paypal To Open A NFT Marketplace?

When it comes to pioneering Web2 financial technology (fintech) companies, few take the cake like Paypal which through their payment platform accelerated global commerce throughout the world, recent trademark filings suggest their eye is now set on Web3. Intellectual Property Attorney Mike Kondoudis (who we covered with F1s NFT platform and Jack Daniels NFTs) recently confirmed PayPal's move into Web3 through trademark application. They talk of an app that claims plans for exchanging, trading, and processing digital assets, suggesting a future NFT platform.

This isn't PayPal's first step into the Web3 ecosystem, back in June the $25 billion revenue company announced support for cryptocurrency transactions on their platform, with PayPal CEO Dan Schulman saying “The future of our financial system is being redesigned in front of our eyes”. PayPal general manager for blockchain and crypto Fernandex Da Ponte says “Now I have a way to prove that I own something on-chain, that is a very significant development that we will see in the future… We are playing the long game, but you’re going to start seeing some significant changes over the next five years”. A Web2 financial giant like PayPal recognizing the benefit of digital assets and choosing to embrace Web3 illustrates the potential that this technology offers, and their next moves will be a huge push forward for the NFT ecosystem supporting faster acceptance and growth in our industry.

Visa Trying Their Hand At NFTs And Virtual Goods

On the topic of fintech companies and trademark applications, absolute mammoth financial institution VISA has also filed trademarks for software that looks to utilize NFTs and virtual goods. VISA filed two trademark applications to the United States Patent and Trademark Office this week with one of them claiming plans for “providing temporary use of non-downloadable software for users to view, access, store, monitor, manage, trade, send, receive, transmit, and exchange digital currency, virtual currency, cryptocurrency, digital and blockchain assets, and non-fungible tokens (NFT)". It goes deeper with the company exploring a move into the metaverse through parts of the application referencing “a collectible series of non-fungible tokens," as well as “providing virtual environments in which users can interact for recreational, leisure or entertainment purposes accessible in the virtual world”.

VISA is no stranger to Web3 or NFTs as back in March they announced an NFT creator program that would help small businesses who want to “build digital-focused companies and harness new tools like NFTs”. Reports suggest that there could be over a billion VISA cards in current circulation, with a total payment volume of over $10 trillion; so official news of VISA getting involved with NFTs in any way shape or form is extremely exciting for the space, and further showcases how this technology is not a fad but truly the building blocks of the next digital era.

If you enjoyed these topics, check out a recent Twitter space that I hosted with Web3 banking company Fiat24: Twitter Space: Banking & Financial Institutions Using Web3. Otherwise have a great couple of days and we will see you on Thursday with another round-up of NFT stories. Take care!

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DISCLAIMER:

None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.