Once again, Funko is teaming up with Warner Brothers to bring another popular pop-culture franchise to life in collectible format. This time around, it’s within the world of cryptocurrency and web3. The two firms will manufacture physical and digital replicas (NFT) of valuable DC comics for sale exclusively via Walmart.
According to reports, the phygital (physical + digital) combination will include a DC Comics’ “The Brave and The Bold” comic book cover. As an NFT (non-fungible token), the collectible will be available in both physical and digital forms.
Collectors only need to connect their wallets in order to receive the NFT. The World Asset exchange blockchain (WAX) creates the digital duplicate (MINT).
Funko partners with the Warner brothers to create DC collectibles NFTs
The Funko and Warner Brothers collaboration couldn’t have come at a better time; just last week, on September 17th, DC fans celebrated Batman Day in honour of the “world’s greatest detective.”
The release of a physical and digital product collection at the same time is great news for dedicated DC fans. According to Funko CEO Andrew Perlmutter, the company’s goal is to “marry the two worlds.” More specifically, Funko wants to bring physical collectables into the crypto realm or digital world.
This is not Funko’s first time exploring NFTs. The company recently launched The DC Digital Pop! Series, which contained iconic characters like Batman, Superman, and Green Lantern.
According to reports, Funko will start selling the “Brave and the Bold” collection consisting of 30,000 NFTs on Walmart’s website at Walmart Collector Con from October 7th onwards.
The fans that want to buy the NFT can link their crypto wallet to claim the NFT online. The NFTs are minted on WAX, which is a blockchain that supports 60 million, including those by Funko, Topps, and Atari, among other mainstream brands. In addition, WAX also supports 30,000 dapps.
Josh Hackbarth, Head of NFT Commercial Development at Warner Bros, said the fan excitement around the Funko Digital Pop! The Series is exciting to see.
We are thrilled to bring this first-to-market opportunity to the world’s largest mass retailer. This is an opportunity to create an easy entryway for shoppers to own digital collectibles featuring fan-favorite brands and characters.Andrew Perlmutter, Chief Executive Officer at Funko
Funko has been working to integrate NFT components into its best-selling “Pop!” action figures for the past year. It began selling digital assets in August 2021 with its Ninja Turtles collection, allowing consumers to purchase both figurines and an NFT.
Will the NFT market rebound amid the crypto market crash?
Though the hype surrounding NFTs has dissipated since 2021, awareness and understanding of non-fungibles continues to grow. Furthermore, corporations are becoming increasingly cognizant of the digital world’s importance.
The physical world will one day be regarded as a relic of the past. As a result, it is hardly surprising that businesses are already preparing for the transition. It is predicted that NFTs will have a large presence in the near future. Not only being limited to collectible art, but this technology will also likely become intertwined with our day-to-day lives.
It’s clear that blockchain, NFTs, and metaverses are all on the verge of revolutionizing human culture. As a result, when significant crypto markets climb out of their slump, it will most likely be because of the NFT market again picking up speed.
How will this partnership propel NFT mass adoption?
Funko is a leading pop culture lifestyle brand based in Everett, Washington. Funko designs and distributes licensed pop culture products across multiple categories, including vinyl figures, board games, action toys, plush items, apparel, houseware and accessories.
The firm aims to provide consumers with real-world interactions with their favourite pop culture brands and characters.
Funko’s entry into the NFT market began in April 2021, when it purchased a controlling stake in NFT firm TokenWave. The company launched its digital asset extension in August 2021 with its Teenage Mutant Ninja Turtles series, allowing consumers to purchase figurines and NFTs.
Funko has partnered with several major companies to launch digital and physical versions of its products. Recently, it collaborated with Paramount Global to release an NFT collection based on the Avatar Legends universe. Funko chief executive Andrew Perlmutter said the company plans to expand its NFT business to include physical and digital retailers.
DC, a subsidiary of Warner Bros., creates well-known characters and stories. It is one of the world’s largest comic and graphic novel publishers. DC’s work provides entertainment for people around the globe, with DC content integrated into Warner Bros. media output.
The collaboration between these two companies, Funko and Warner Bros., may take the NFT industry to new heights. Both platforms have a broad distribution, and their impact is certainly felt.