Hello HODLers,
Today I read that Disney was entering the NFT field with VeVe. VeVe was featured recently for launching some Marvel Comics NFTs.
As a reminder Disney owns IP such as Marvel (SpiderMan), Pixar (Toy Story, Cars, Nemo, The Incredibles), Star Wars, and others.
The company behind VeVe is Ecomi $OMI. It did an ICO in 2019 where it raised $10.65 million Today they sit on a market capitalization of $1.24 billion
That is a nice pump but after seeing such huge news, I was kind of disappointed. The news must have already been priced in.
This is a great news for the entire Crypto ecosystem and especially DeFi. Also, it is nice to have a serious competitor to OpenSea even if they are not truly comparable.
The thing I found quite intriguing is that VeVe uses ImmutableX's Layer 2 technology !
From VeVe's perspective and even Disney, I have trouble to understand where do they sit on the value proposition. Disney has the IP, fine.
But if VeVe just has a nice website and a consumer dapp but uses someone else's Blockchain, Disney just gave them a 1bn Market Cap for free. Well, there might be some under the table deals I am no aware of :D.
ImmutableX Layer 2 was developped by Immutable, the company behind Gods Unchained and Guild of Guardians. As you probably know if you follow me, I am very bullish on ImmutableX and their games. $IMX will be a governance token giving dividends (20% of the fees if I remember), voting rights and other bonuses !
Luckily, every user with Gods Unchained cards prior to the last airdrop snapshot (2-3 months ago) will have $IMX airdrop to them and with these kind of news ramping up, I feel $IMX will be VERY hot.
I even plan to buy more once the $IMX goes live. They seem to attract more and more NFT projects to their own UI and I did not even know they were selling?/lending? their technology to other projects.
If you missed it, I talked about the $IMX Airdrop a few months ago. There will be more opportunities to get your hand on ImmutableX native token but owning some nice Gods Unchained Cards was one of them :D.
If you would like to try it out: Sign up using with my referral code: ReeluBRiUf on the website here https://godsunchained.com/account/register?referral=ReeluBRiUf
Sources:
Disney to launch NFT digital collectibles with VeVe
