Stan Lee NFT furore is just the start of many defiled legacies to come

Date:
Wed, 15 Dec 2021 14:59:08 +0000

Description:
As more companies look to ride the NFT train, estates for deceased
celebrities will be keeping a keen eye on the opportunities.

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The social media accounts of Stan Lee are facing a reckoning. Within hours of a Twitter post announcing the use of Stan Lees characters in a series of
NFTs, fans across the internet were rallying in protest.

On December 14, @TheRealStanLee Stan Lees Twitter account, now run by POW! Entertainment posted about the NFT (digital art) collection coming later in the month, showcasing the Indian superhero Chakra The Invincible that Lee created before his death in 2018. From championing diversity to embracing new tech, Stan was 1 step ahead of the curve. To honor his innovative spirit, Stan's 1st Indian hero, Chakra The Invincible, debuts in his own NFT (digital art) collection from 7:30pm PT 12/27-12pm PT 12/29! Sign up: https://t.co/Crub8yo09X pic.twitter.com/p9cQcKxiUI December 14, 2021 See more

Chakra remains one of Lees lesser-known creations, compared to the titans of the MCU he had a hand in creating Hulk, Spider-Man, Iron Man, and many more and many people may be hearing about Chakra for the first time today.
However, its worth noting that Chakra even starred in an animated film that aired in both English and Hindi, premiering on Cartoon Network in 2013.

But its not the choice of character fans are decrying, but the use of Lees creations in the speculative NFT market a largely unregulated trading industry that can see digital artwork sold for hundreds of thousands of dollars, and which also has an environmental impact .

NFTs are often marketed as a way for artists to gain new revenue streams, though the reality of NFT trading is one of high volatility, with values soaring and plummeting as traders seek to gain quick returns on their investments. Some are even scouring the internet for artist images to mint as NFTs, and then sell, without the original creators permission, hurting the demographic they were meant to offer a financial lifeline to.

Of course, the rights of Stan Lees characters do belong to POW!, but that hasnt stopped fans and just those that hate the concept of NFTs from decrying what they see as a tarnishing of Lees legacy.

Dictionary.com had possibly the best response, stating that The verb 'defile' was first recorded in 12751325, and comes from the Old French word
'defouler,' meaning "to trample on, violate."

Others simply comment This is so awful, This is terrible, or more fittingly given Lees iconic piece of dialogue from the Spider-Man comic someone reminding the accounts social media manager that with great power comes great responsibility. Not the only one

The estates of deceased celebrities have long been a source of tension
between those able to profit from someones likeness and creative output, and those who wish to see a legacy respectfully left alone. Everyone from Michael Jackson to Tupac has been resurrected for the stage in holographic form , giving event organizers a way to capitalize on a deceased artists following long after their death.

But the controversial use of NFTs is especially hard to swallow when its impossible to know whether Lee himself would have signed off on the venture and given the many years of manipulation and financial abuse he received at the hands of those in charge of his assets, as well as tussles over control
of his social media accounts . And as NFTs continue to gain traction, we are only going to see more examples of beloved creators having their work
co-opted for this shady, speculative industry.

We're not ones to overly romanticize the dead, and nor do we see Lees
creation of Chakra The Invincible an Indian superhero, written by a white man, as something that needs particular guarding from a protective fandom.

But one thing that does connect Lees creations across the world of comic
books is a sense of hope of individuals able to rise above their situation, inherit incredible powers, and fight for their values. Using the IP of a dead man to sell digital artwork in a trash-fire trading market does not align
with any of that.

Excelsior, we guess. How to watch the Marvel movies in order



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Link to news story: https://www.techradar.com/news/stan-lee-nft-furore-is-just-the-start-of-many-d efiled-legacies-to-come/


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