We reported in October that non-fungible token (NFT) platform Veve had inked a deal with Disney. Today, it plans to launch Mickey Mouse NFTs. The company licenses intellectual property from big brands and has deals Disney subsidiary Marvel Comics and Warner Brothers owned DC Comics.
Today’s NFT drop stands to rake in $2.4 million in revenue given the $60 price and almost 40,000 NFTs to be dropped. Veve targets a mainstream crowd with a user-friendly app. Within the app, money is converted to gems. However, so far, it’s not possible to turn gems back into currency and cash out of the app. You can sell NFTs to others but not withdraw the money. That’s something the company says is still being tested.
The app is designed to enable parents to buy stuff for their kids. The gems can be transferred between wallets, enabling a parent to load money and transfer it to their children’s app. However, only one transfer is allowed per day and the value is limited.
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