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Unraveling the Mysteries of the VeVe NFT Marketplace

Posted by
Ian Kane

Pricing Marvel NFT Comics – What’s a Secret Rare worth?

NFT Marketplace VeVe dropped its first collection of Marvel comics over the last few weeks. Obviously, there was interest in the collection given the history of the comic books and the recent success of the movie series and stand-alone shows. All 3 collections, containing thousands of variant front covers of the classic comic books sold out in under a few minutes. But what’s happening on VeVe? What are the opportunities for traders? DappRadar takes a look!

The sale of digital Marvel comic books on the VeVe NFT marketplace is one thing, but more importantly perhaps for many is what happened in the aftermath. Did a $6.99 purchase get flipped for millions? As new NFT holders found themselves holding ultra-rare and secret cards – we want to know could they flip them easily on VeVe as other collectors are doing with NFTs on for example Ethereum marketplaces like OpenSea. 

Firstly, VeVe is not as fully formed as other NFT marketplaces. While the fiat on-ramp is ridiculously easy, allowing users to make simple app store purchases of GEMS that can then be used to purchase NFTs in the platform. There isn’t currently a way to exit the app with your money. Sure, you can sell the item for GEMS, but those GEMS are only usable inside the ecosystem. Each GEM represents $1. Furthermore, at this stage, the creators of the platform token, OMI, is also not an exit option. In a nutshell, any profits are trapped inside the platform. For now anyway. More importantly, there is no way to filter items on the buy it now section of the marketplace by recently sold. So currently there is no way to know what is selling through that mechanism. Despite that, to get a good overview we can observe the comics for sale in the auction format.  

This is mentioned as it’s my belief that until a good off-ramp is available, sellers are not really keen to sell on the marketplace. Nonetheless, the comics are for sale and the purpose of this article is to look at the prices they are fetching in auctions right now. In order to give owners a better idea of the value, they may now hold. Importantly, we will focus attention on the rare and secret rare editions of the comics when looking at values. However, the same methodology can be applied by holders to gauge the price of their respective NFTs by searching through the VeVe NFT marketplace.

Get to the point…

(at the time of writing, at auction, prices may have increased on final sale) 

Marvel Comics#1 Secret Rare is set to sell for 14k GEMS ($14,000)

Marvel Comics#1 Rare is set to sell for 210 GEMS ($210.00)

Journey Into Mystery #85 Rare is set to sell for 40.3 GEMS ($40.30) 

Fantastic Four Secret Rare is set to sell for 3k GEMS ($3,000)

Fantastic Four Rare is set to sell for 60 GEMS ($60.00)

Marvel Comics #1 – The first-ever Marvel comic

This collection included 60,000 editions in total priced at $6.99. With the following weightings across levels of scarcity. 5 variants exist, of which the white cover is the secret rare and presumably worth the most on the secondary market as only 600 exist. Important is that all the comics cost the new owners $6.99 and were dealt out randomly to buyers. 

– Classic Cover – Common: 48,000

– Vintage Variant – Uncommon: 6,000

– Hero Variant – Rare: 3,000

– Vibranium Variant – Ultra Rare: 2,400

– True Believer Variant – Secret Rare: 600

Straight away we see that the classic cover variant is selling between 14 and 16 gems as buyers look to double up on their purchase. Looking at the Buy Now listings, rare editions of the comic start at 175 GEMS all the way up to 9 million GEMS. Hardly, conclusive to trawl through, as it appears people are just speculating. 

A more useful way to gauge what people are willing to pay is the auction section where currently there are only 9 rare comics available for auction. Bids on the lowest value one are coming in around 80 GEMS or $80, and importantly, the highest-priced ones have zero bids. 

The highest bid on a rare comic so far is for 210 GEMS or $210 for edition #5735. If it sells, that’s a profit of $203 before any marketplace fees. Not too shabby. 

Moving up to the other end of the scale, let’s look at what’s happening with the Secret Rare editions, of which there are just 600. Again, we will start in the auction section of the marketplace as the listing prices in buy now are as equally as crazy as we saw before. Ranging from 12.9k GEMS to 9.9M GEMS. Of the 47 editions of this Secret Rare available on the marketplace, only 3 are on auction. The lowest value one is priced at 14k GEMS and started at 7400 GEMS and ends in 15hrs at the time of writing. The highest value one is priced at 42k GEMS and has just 1 bidder. Interestingly we see that bidder ‘bobby999’ is also the highest bidder on the other comic priced at 16k and is also bidding on the one currently at 14k. 

Based on the auction values of the secret rare card and the fact one of them has a considerable number of bids we can conclude that these cards certainly hold value. If nobody else bids on the one currently priced at 14k GEMS the seller will make a huge profit on their $6.99 investment. Moreover, we can start to see a base value for the secret rare edition comics in this initial collection of three drops.  

Journey Into Mystery #85

The second collection dropped on the 20th of August. Journey Into Mystery #85. The First Appearance of Loki, Thor’s brother and the God of Mischief. The collection included 50,000 editions, once again priced at $6.99. 5 variants exist, of which the white cover featuring Thor beating Loki is the secret rare and presumably worth the most on the secondary market as only 600 exist.

– Classic Cover – Common: 40,000

– Vintage Variant – Uncommon: 5,000

– Hero Variant – Rare: 2,500

– Vibranium Variant – Ultra Rare: 2,000

– True Believer Variant – Secret Rare: 500

The marketplace indicates there are currently 42 editions of the Secret Rare comic available on the marketplace. Again, a very small percentage of the original 500 minted. Indicating that people bought these comics to keep them. Buy Now prices range from 3.7K GEMS to 9.9M GEMS so again we look to the auctions to gauge buyers’ appetite for the comic. Of the 40 listed, just one is up for grabs in an auction with a starting price of 5.5k GEMS. But, it has zero bids. 

Looking now at the rare edition we see there are 151 available on the marketplace with buy-it-now prices starting at 48 GEMS, once again up to 9.9M GEMS. Interestingly there are lots under the 100 GEM line. Up for auction, we see just 2 editions of the rare front cover. 

The one priced at 40.3 GEMS has 4 bids and the one priced at 41.26 GEMS has 15 bids at the time of writing. Both auctions began at 40 GEMS. The one with the lower serial number being the one with the most bids as that presumably holds more value. Still, this rare edition Journey into the Mystery comic is currently selling for half the price of the Marvel Comics #1 rare comic. 

Fantastic Four

The third collection featured the first appearance of the Fantastic Four — the comic that redefined Super Hero comics and introduced the Fantastic Four to the world. The collection dropped on the 21st of August and included 60,000 editions with different rarity allocations as outlined below. 5 variants exist, of which the white cover is the secret rare and presumably worth the most as only 600 exist. 

– Classic Cover – Common: 48,000

– Vintage Variant – Uncommon: 6,000

– Hero Variant – Rare: 3,000

– Vibranium Variant – Ultra Rare: 2,400

– True Believer Variant – Secret Rare: 600

The marketplace indicates there are currently 41 editions of the Secret Rare comic available on the marketplace. Again, a very small percentage of the original 600 minted. Buy Now prices range from 3.4K GEMS to 9.9M GEMS so again we look to the auctions to gauge buyers’ appetite for the comic. Once again, like the previous collection. 40 are listed, just 1 is up for grabs in an auction with a starting price of 3k GEMS. This time, we see 3 bids starting at 3k with the price increasing in small increments to 3000.11 GEMS at the time of writing. Nonetheless, it’s set to sell for a massive profit. 

There are 161 of the 3,000 minted Rare edition Fantastic Four comics available on the marketplace. Of which just 6 are up for auction. We again see the lowest starting price of 40 GEMS with another comic with a low serial number priced at 99 GEMS. We see bids on one priced at 60 GEMS and it looks like the item will be sold. 

In Summary

This research, while basic, indicates the value of the Marvel comics on the VeVe NFT marketplace right now. The idea can be extended to other rarities and readers can simply make their own assessments of the others. However, the limitations afforded to me by both the inefficient VeVe marketplace and the fact there is no way to see the most recent sales on the platform have been restricting.

For example, when looking for collectibles and not comics on the platform, the range of filters are far more advanced. Still, using what was available, we seem to have uncovered some valuable information. Namely that anything below a secret rare is not commanding any serious value right now.

Looking at these three collections in isolation it appears that the first of the three is set to hold the most value moving forward. Not surprising really as the first-ever Marvel comic. However, what is most interesting is that while most users appear to be trying to sell their items through the buy now feature in the marketplace. Items are selling through the auctions. As mentioned at the beginning, there is no filter to see what has sold, and at what price on the VeVe NFT marketplace. Hopefully, this will be added soon to allow some proper analysis at a later date. 

Nonetheless, it is clearly too early to ascertain any concrete conclusions as to the value of these NFT comics. As cashing out becomes an option and the marketplace filtering becomes easier to analyze we will continue to delve into the fascinating world of comic book collectibles on the VeVe NFt Marketplace. 

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The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, ADA, MATIC, SAFEMOON, HEX, LINK, GRT, CRO, OMI, USDT, SOL, SHIBA INU, AVASTR, RAY, BOSON, AND OCEAN.

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