All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
Funko, the pop-culture consumer products firm, has partnered with the entertainment giant, Paramount Global to release an NFT collection. The upcoming collection, based on the Avatar Legends universe, will drop on August 9. The NFTs will be exclusively available on the Droppp NFT platform. Let’s take a closer look at the Funko x Paramount partnership and the Avatar Legends NFT collection.
Funko and Paramount Global first announced their partnership on July 29. “Avatar Legends x Funko Series 1 Digital Pop! coming soon to Droppp,” Funko tweeted on Friday.
The collection is based on the popular Nickelodeon Avatar animated television series—“The Last Airbender” and “The Legend of Korra”. Essentially, the collection will feature characters from both the cartoons, including Azula, Katara, and Sokka. Called Avatar Legends x Funko Series 1 Digital Pop!, the NFT characters will appear in Funko’s unique bobblehead, pop art style.
All in all, there will be 625,000 NFTs in the Avatar Legends collection. While the standard pack of NFTs will cost $9.99 per pack, premium packs come at $29.99 apiece.
“Each pack of Digital Pop! gives you a chance to reveal one of the rare Funko Digital Pop! when opened, which can then be redeemed for a free, limited edition, physical vinyl collectible,” said a press release.
To explain, collectors who get Digital Pops of the Legendary or Grail rarities can redeem an exclusive physical collectible matching their Digital Pop! That’s not all! Rewards are also in store for those who complete their Royalty Collection. Meaning, if you collect one of every Common, Uncommon, Rare, and Epic, you will get a limited edition physical collectible figure.
Funko will issue Redemption Tokens to all those who are eligible, 120 days after the NFT release. Once you receive your token, you will have 30 days to redeem the physical collectible.
To be sure, this is not Funko’s first foray into the NFT space. Early this month, the brand announced the Jay and Silent Bob NFT collection, featuring the popular characters from Clerks movies. The collection also included physical collectibles.
Similarly, last year, Funko released NFTs of the beloved painter, Bob Ross. This collection was also released on Droppp. Previously, the firm also dropped Star Trek NFTs on the WAX blockchain. The 120 3D NFTs featured fans’ favourite Star Trek characters such as Captain Kirk, Khan, and Mr. Spock.
Besides, Funko has released a host of other NFTs in partnership with Warner Bros., Hanna Barbera, My Little Pony, Kellogs, Transformers, and DC Comics. Avatar Legends x Funko Series 1 Digital Pop, in collaboration with Paramount, is the latest addition to this growing Funko NFT universe.