VeVe explained

VeVe
Type:Private
Founder:David Yu
Dan Crothers
Owner:VeVe, Inc.
Ceo:David Yu
Location City:Auckland, New Zealand
Area Served:Worldwide
Language:English
Launch Date:2018
Revenue:Freemium

VeVe is a New Zealand-based company specializing in licensed digital collectibles. The company has mobile apps available for Android and iOS devices, as well as a web app, where users can purchase digital collectibles and view them in AR & VR.[1] [2] VeVe has the distinction of being the first marketplace to offer NFTs from prominent brands such as Marvel, Disney and DC.[3] [4] [5] [6] [7]

History

VeVe was founded by Dan Crothers and David Yu in 2018.[8]

VeVe has formed several partnerships with major licensors to offer unique digital collectibles to its users, utilizing non-fungible token (NFT) technology.[9]

In June 2021, VeVe collaborated with Givenchy to release a series of NFT art pieces by Amar Singh to support LGBTQIA+ causes.[10] [11] [12]

Later, in August 2021, VeVe partnered with Marvel Entertainment to release the first-ever NFT of Spider-Man.[13] [14] [15] VeVe also partnered with Star Trek in September 2021 to offer NFTs based on iconic starships, such as the Enterprise-D and Borg Cube.[16] [17] [18]

In November 2021, VeVe collaborated with the United States Postal Service to create NFT stamp collectibles commemorating the Day of the Dead holiday, followed by a Christmas-themed set released in December of the same year.[19] [20] [21]

Additionally, VeVe partnered with Disney in November 2021 to release a series of NFT collectibles called "Golden Moments," featuring beloved characters from Disney, Pixar, Marvel, and Star Wars.[22] [23]

VeVe also teamed up with Lamborghini in February 2023 to release a set of 3D digital collectibles based on the Huracán STO line of sports cars.[24] [25]

In July 2023, VeVe partnered with Kartoon Studios to release digital collectibles of Stan Lee, which sold out nearly instantly.[26]

VeVe has also partnered with brands on physical/digital collaborations ("phygitals") where customers who purchase a physical product receive a digital counterpart. In September 2023, VeVe partnered with Funko on an Iron Man collectible with a digital counterpart available via promo code.[27] In October 2023, VeVe released a phygital collaboration with Christian Louboutin and Marvel for their "Loubiverse" collection.[28]

At SXSW in 2024, VeVe and Marvel announced the release of a new app called VeVe Comics, where users can purchase digital versions of new comic releases on the same day that the physicals are released in store.[29] [30]

VeVe has also launched a sub-brand called "VeVeVibes" for IP related to the music category.[31] [32] In May 2024, they announced a collaboration with YG Entertainment to bring digital collectibles for Blackpink to the platform.[33] [34] VeVeVibes has also released several songs from the artist Ron English as digital records that can be played on a virtual jukebox.[35]

Controversy

VeVe has received some criticism for their use of blockchain technology. In February 2022, Chaosium, the makers of Call of Cthulhu, suspended the production of their NFTs on VeVe following criticism from some of their user base.[36]

VeVe also received criticism from some fans of Sesame Street in March 2023 when they partnered with Sesame Workshop to release an animated digital collectible of the Cookie Monster, with fans criticizing the environmental impact of NFTs.[37] [38] However, VeVe NFTs are minted on the Immutable X blockchain which purports to be 100% carbon-neutral.[39] [40]

Awards

VeVe was recognized as one of the 2023 Deloitte Fast 50 by Deloitte for "reinventing the collectibles industry".[41] VeVe co-founder, David Yu, was also recognized as the Entrepreneur of the Year New Zealand by Ernst & Young in 2023.[42] [43]

Notes and References

  1. Web site: VeVe to Bring Fans a Disney Digital Collectible Experience . 13 November 2021 . License Global .
  2. Web site: 28 February 2022 . 3 Steps to Safely Buying Your First NFT . 3 March 2022 . Nasdaq .
  3. Web site: Collier . Katies . 12 November 2021 . Disney Plus subscription is £1.99 this week only and more Disney Plus Day offers . 25 January 2022.
  4. Web site: Buckley . Madeline . October 29, 2021 . Disney Gets in on the NFT Action for Disney+ Day . 13 November 2021 . The Pop Insider .
  5. Web site: Eternals gather for Marvel Mightys Digital Collectibles . 13 November 2021 . Marvel .
  6. Web site: Spangler . Todd . November 11, 2021 . Hollywood's NFT Gold Rush: Behind the Hope and Hype . 13 November 2021 . Variety .
  7. Web site: 10 November 2021 . Disney+ Day : tout savoir sur la journée événement organisée ce vendredi 12 novembre par la plate-forme de streaming . 25 January 2022 . CNEWS .
  8. Web site: Kiwi NFT company announces deal with Marvel as sales pass $40m in six months . . June 24, 2021 . 19 October 2023.
  9. 27 July 2021 . The Rise and Rise of NFT Artworks . Vanity Fair . 25 January 2022.
  10. Web site: 21 June 2021 . Givenchy Parfums has launched its first NFT in support of LGBTQIA+ causes . 25 January 2022 . Premium Beauty News .
  11. Web site: Palermo . Laura . 17 June 2021 . Givenchy parfumes lancia un Nft per il mese del pride . 25 January 2022 . MF Fashion .
  12. 15 February 2022 . Billion Dollar Boom: NFT Rainmakers . Vanity Fair . 16 February 2022.
  13. Web site: VeVe to Bring Fans a Disney Digital Collectible Experience . 13 November 2021 . License Global .
  14. Web site: 6 August 2021 . Marvel, VeVe Bring Spider-Man to Digital Collecting . 25 January 2022 . License Global .
  15. Web site: 6 August 2021 . Spider-Man Swings into the World of Digital Collectibles . 25 January 2022 . Marvel .
  16. Web site: VeVe Partners with Star Trek for First Series of Digital Collectibles . 25 January 2022 . License Global .
  17. Web site: Buckley . Madeleine . 7 September 2021 . Star Trek Joins the NFT Galaxy with New Digital Collectibles from VeVe . 25 January 2022 . Pop Insider .
  18. Web site: Pickett . Daniel . 8 September 2021 . VeVe Partners with Star Trek For First Series of Digital Collectibles . 25 January 2022 . Action Figure Insider .
  19. Web site: Bigalke . Jay . 5 November 2021 . Day of the Dead digital art sold out in less than a second . 24 January 2022 . Linn's Stamp News .
  20. Web site: Heckman . Jory . 21 January 2022 . USPS, building off popular licensing deals, branches out into stamp NFTs . 24 January 2022 . Federal News Network .
  21. Web site: Leclair . Dave . 21 January 2022 . Even USPS Has NFTs Now . 24 January 2022 . How-To Geek .
  22. Web site: Spangler . Todd . 11 November 2021 . Hollywood's NFT Gold Rush: Behind the Hope and Hype . 25 January 2022 . Variety .
  23. Web site: Perez . Sarah . 13 November 2021 . This Week in Apps: Court orders Apple to implement App Store changes, 2022 forecast, TikTok tries gaming . 25 January 2022 . TechCrunch .
  24. Web site: Hiken . Asa . 15 February 2023 . Lamborghini to drop new batch of NFTs . 19 February 2023 . Ad Age .
  25. Web site: 17 February 2023 . Lamborghini and VeVe Launch NFT Collectables . 19 February 2023 . License Global .
  26. Web site: John Milton . Immanual . Stan Lee NFT Collection Sells Out Almost Instantly, Rises 500% . Bloomberg . 25 July 2023 . 24 July 2023.
  27. Web site: Connell . Samantha . Build Your Dream Marvel Collection — Digitally and Physically . Pop Insider . 5 October 2023 . 28 September 2023.
  28. Web site: Directo-Meston . Danielle . Marvel and Christian Louboutin's New Collection Will Transform You Into a Stylish Red-Soled Superhero . The Hollywood Reporter . October 4, 2023 . 5 October 2023.
  29. Web site: MacDonald . Heidi . VeVe Comics offer digital Marvel Comics and NFTs . The Beat . The Beat . 15 March 2024 . 15 March 2024.
  30. Web site: Arrant . Chris . Marvel partners with NFT company for new digital comics platform to rival Amazon's digital comics market . Popverse . Popverse . 15 March 2024 . 15 March 2024.
  31. Web site: BLACKPINK unveils their first digital collectibles on AR platform VeVe . MSN . MSN . 22 May 2024.
  32. Web site: BLACKPINK launches first digital collectibles on AR platform VeVe . AllKPop . AllKPop . 22 May 2024.
  33. Web site: Richards . Will . BLACKPINK launch new digital collectibles inspired by ‘Pink Venom’ . RollingStone . RollingStone . 22 May 2024 . 15 May 2024.
  34. Web site: Yoo . Hong . YG to release first Blackpink digital collectibles . The Korea Herald . The Korea Herald . 22 May 2024 . 14 May 2024.
  35. Web site: VeVeVibes: Ron English — The Rabbbits Jukebox + Delusionville Record Series 1 . VeVe . VeVe . 22 May 2024.
  36. Web site: Hoffer . Christian . 16 February 2022 . Call of Cthulhu Maker Chaosium Suspends NFT Program After Backlash . 3 March 2022 . ComicBook.com .
  37. Web site: Ede-Osifo . Uwa . Some 'Sesame Street' fans say Cookie Monster NFTs don't honor the show's original legacy . NBC News . 22 March 2023 . 15 March 2023.
  38. Web site: Bharanidharan . Sadhana . First-ever Sesame Street NFTs to launch on VeVe . Kidscreen . 22 March 2023 . 15 March 2023.
  39. Web site: Young . Martin . First Carbon-Neutral NFT Scaling Platform Launched by Immutable X . Yahoo Finance . 25 July 2023 . 31 March 2021.
  40. Web site: Pickett . Daniel . RON ENGLISH TO BRING POPAGANDA TO BLOCKCHAIN AND AUGMENTED REALITY WITH DIGITAL ARTWORK ON VEVE'S CARBON NEUTRAL NFT PLATFORM . Action Figure Insider . 25 July 2023 . 24 May 2021.
  41. Web site: Kiwi tech company reinventing the collectibles industry . Deloitte . Deloitte.
  42. Web site: ‘Silent achiever’: VeVe’s David Yu takes out EY Entrepreneur of the Year 2023 New Zealand title with NFT trading app . NZ Herald . NZ Herald . 7 May 2024 . 15 November 2023.
  43. Web site: Baker . Glenn . VeVe creator is 2023’s top entrepreneur . NZ Business . NZ Business . 7 May 2024 . 15 November 2023.

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