NFTs may be in a bear market right now, but some brands and companies continue to reap the benefits of digital collectibles with their popular products and services. In the case of Funko Pops , their physical figurines are sold around the world and are bought by collectors everywhere. As an already-established purveyor of expertly-crafted collectibles, Funko Pops branched into the world of NFTs via Digital Pop! at the end of August 2021. Just over a year since then, almost every time there’s been a new drop, they’ve sold out. While Funko Pops may be a well-known brand, is there something more to their strategy that makes their NFT drops so popular? Let’s dig a little deeper and see what we can uncover!
A Brief History of Funko Pops
Funko Pops began all the way back in 1998. It was started by Mike Becker who just wanted to bring back low-tech, nostalgia-themed toys into the ever-evolving world of information technology. Their first-ever bobblehead featured Big Boy , the mascot from the famous chain of US restaurants.
Over two decades later, Funko Pop now holds over 150 licenses including Lucasfilm , Marvel , Hasbro , The Walking Dead , Game of Thrones , DC Comics , NBA , Sanrio , and Disney . In just the last three years, over 10 million Funko Pops vinyl bobbleheads were sold worldwide. Funko Pops remain popular because they tap into many different franchises from today and yesterday and are therefore relevant to all kinds of different audiences. In addition, the various character designs and renderings are super cute and distinct in appearance, making each individual collectible truly unique.
As a company that has been around for nearly 25 years, and seeing that Funko Pops are collectibles, it stands to reason that, as a business, Funko would want to tap into new opportunities and expand their revenue streams. And naturally, with the NFT bull market of 2021, it was only a matter of time before Funko got involved and started offering their own brand of digital collectibles to their already substantial and ever-growing audience.
Digital Pops are basically digital versions of Funko Pops, and while you can’t touch or feel them, each NFT is expertly rendered and, in some cases, animated as well. Moreover, the price of Digital Pops are actually pretty reasonable and can range from as little as $3 USD for a mini-drop to $30 for a premium pack. But how is this possible? Simple: Digital Funkos can be purchased via Droppp , an NFT platform that focuses on pop culture NFTs and provides users with several secure and easy ways to pay for their digital assets. Droppp is built on the WAX blockchain, which is, in many respects, the premiere blockchain for digital collectibles and NFTs (sorry if you’re an Ethereum fan, but WAX is pretty impressive in its own right).
And what Digital Pop! drops have taken place so far? Well, here’s the list of drops that took place outside of Droppp:
- Funko Promo 1 (Sold Out)
- TMNT X Funko (Sold Out)
- Funko Promo 2 (Sold Out)
- Big Boy X Funko (Sold Out)
- Iron Maiden X Funko (Sold Out)
And here are the various drops that have occurred via Droppp so far:
- Fantastik Plastik 1 Mini-Drop (Sold Out)
- Fantastik Plastik 2 Mini-Drop (Sold Out)
- Funko Halloween Series 2021 (Sold Out)
- Star Trek X Funko (Sold Out)
- Bob Ross X Funko (Sale Ended)
- Retro Comics X Funko (Sold Out)
- Nickelodeon Cartoons X Funko (Sold Out)
- Transformers X Funko (Sold Out)
- Scooby-Doo X Funko (Sold Out)
- DC 1 X Funko (Sold Out)
- Kellogg’s X Funko (Sold Out)
- My Little Pony X Funko (Sold Out)
- Hanna-Barbera X Funko (Sold Out)
- Jay and Silent Bob X Funko (Sold Out)
- Avatar Legends X Funko (Sold Out)
- Power Rangers X Funko (Sold Out)
- DC 2 X Funko (Sale Ended)
- Looney Tunes X Funko (Sold Out)
- Game of Thrones X Funko (Sold Out)
- Funko Halloween Series 2022 (Sold Out)
- WB Horror X Funko (Sold Out)
I think you can see the pattern here. Just about every drop that is released is sold out, and were it not for the Bob Ross and second DC drops, it would be a 100% hit rate. If anyone was going to get NFTs and digital collectibles right, it was Funko Pops, and evidently, they have done an outstanding job since, time and time again, fans keep coming back and buying more Digital Pops.
WB Horror X Funko
The recent WB Horror X Funko drop was well-received and apparently “sold out instantly,” and I can understand why. Fans could choose to purchase either 1 of 25,500 standard packs (consisting of 5 Funkos) or 1 of 25,500 premium packs (consisting of 15 Funkos). Standard packs sold for $10 USD while the Premium packs went for $30 USD (no surprises there). But what really made this drop special was the chance to get a Digital Pop in the Legendary or Grail rarities and the ability to redeem it for “a rare, exclusive physical collectible that matches the Digital Pop!™.”
And that’s not all. For fans that completed their Royalty Collection by getting one of every Common, Uncommon, Rare and Epic Digital Pop, they became eligible to receive a limited edition physical collectible figure designed exclusively for the WB Horror X Funko release!
Yup, Funko Pops have gone the extra mile and found a clever way to incentivize the purchase of digital collectibles by combining them with physical ones. This strategy has proven to be quite popular with other NFT projects and advocates including the legendary Gary Vee !
Check out our article Is the Future of NFTs Digital or Physical? If You’re Gary Vee, It Might Just Be Both! by clicking here.
A Sustainable, Inclusive Approach to NFTs
Digital Pops is just another great example of NFTs used intelligently. Yup, no greed, no rugs, no price fixing or manipulation or whales buying up entire collections—Digital Pops are affordable, fun, accessible and give collectors the chance to get some rare physical collectibles as well. What more could you want? It really isn’t any surprise that their NFT drops sell out almost every single time. And I have a feeling that as they refine their approach, they’ll see even bigger returns on their initial investments and more people wanting to participate in the future. Funko Pops is a very impressive brand with an immaculate track record, and I for one am very excited to see what they’ll have to offer for audiences in the near future.
So what do you think about Digital Pops? Are they an awesome way for more collectors to get access to rare Funko Pops? Or are they not as hot as people claim? Let us know your thoughts!