In late October, Veve announced it would be launching Disney non-fungible tokens (NFTs), and it hasn’t wasted time. Over the weekend, it did the first drops of NFTs for the The Simpsons and today and tomorrow there are drops for Walt Disney Studios characters such as Elsa, and Pixar including Wall-e. These are all part of a Golden Moments series that will culminate in Disney+ Day on November 12.
There are still more drops to come with Star Wars and several other brands between now and Disney+ Day.
Part of the NFT offer is that Veve will pay for the first three months of a new Disney+ subscription in certain territories, subject to terms and conditions.
It probably can afford to. Each golden moment costs $60. We calculate that Veve will earn almost $1.2 million a day in revenues, assuming they all sell out. If it’s the same for each of the six days, that’s a cool $7.2 million. And that’s not the only revenue. For secondary market sales, there’s a standard 2.5% cut to Veve. But in the case of Disney, there’s an additional 6% licensor fee.
All 18,666 Simpsons collectibles sold out. As with most NFTs, there are always quite a few people who want to flip them for a profit quickly and these are no different. The “common” Bart and Homer digital figurine is being auctioned from $150 upwards, with the rare skateboards auctioning for almost double that.
The drops are described as ‘blind boxes’. However, in The Simpsons case, all the purchasers received the same pre-publicized images above for the two drops.
While Veve has managed to license a number of big brands, it’s unclear how exclusive the deals are. For The Simpsons, we can expect others to release different versions. The animated series was originally produced for Fox, which has invested $100 million into its NFT subsidiary and recently partnered with WWE.