Funko is getting into the NFT game with Funko POP! tokens. The company announced that it had acquired a majority stake in TokenWave. That app allows users to purchase Non-Fungible Tokens and sell them. So, Funko will be giving customers the chance to buy rare POPs with NFTs included. The first run of tokens hits the market in June for $10. Every week from then, there will be a new token released. As opposed to some of the recent NFT fervor, you can actually use the tokens to redeem for rare figures in the real world. However, this will probably have some unforeseen effects on the resale market. NFTs themselves have become a source of obsession on social media and the Internet at large. For those of you keeping track at home, we’re at the second big economic rush of this year after the GameStop stock hysteria.
“Funko is thrilled to advance another platform that our fans and collectors will love and find valuable,” Brian Mariotti, Chief Executive Officer of Funko explained in a statement. “Our strategy in this space is clear - bring the value-added NFT opportunity to our licensing partners to leverage our broad range of existing pop-culture content across Television, Movies, Sports, Music, Anime, Video Games and Comic Books. Our amazing licensing partners are excited about our entry into this new digital space and we believe the diversity of our licensing portfolio sets us up for long-term success.”
“The marriage of digital and physical using WAX’s patented NFT technology known as vIRLs™ is powerful,” he added. “Our ability to combine Funko Pop! digital NFTs with exclusive Funko Pop! Vinyl Figures has the potential to be a game-changer. By backing the rarest of the Funko NFTs with exclusive redeemable Funko Pop!s, we are poised to enter the NFT market in a very unique manner.”
Mariotti continued, “Importantly, we plan to make Funko NFTs broadly accessible to our fans by providing affordable entry pricing. Utilizing WAX Blockchain technology, we have the opportunity to eventually bring Funko collectible NFTs to our millions of fans around the globe. The NFT world is all about content, and Funko has been connecting fans to the content they love for over 20 years.”
Would you be interested in purchasing Funko NFTs? Let us know in the comments!