Funko, a pop-culture company that makes consumer goods, announced on July 29th, its partnership with Paramount Global, a multinational entertainment and mass media corporation. They plan to launch a number of non-fungible tokens. Funko will release the latest Avatar Legends Digital Pop on August 9, 2022 via Droppp.
Avatar Legends NFTs — Publicly-Listed Consumer Products Firm Funko Collaborates With Paramount
Funko (Nasdaq FNKO) announced that the company is partnering with Paramount (Nasdaq – PARA) to launch a new range of NFTs based upon the Avatar Legends universe. Avatar Legends, a brand based on Nickelodeon’s animated series Avatar, is the inspiration for Avatar Legends. — “The Last Airbender” and “The Legend of Korra.”
Paramount Digital Pop NFTs and Funko are coming soon with popular characters like Kuruk and Painted Lady. “Avatar Legends x Funko Series 1 Digital Pop! coming soon to Droppp,” Funko tweetedFriday. The NFTs will feature Funko’s unique bobble-head, pop art style and the Avatar Legends’ standard pack of NFTs will be $9.99 per pack.
Premium packs are $29.99 each and Funko claims there will total 625,000 NFTs within the Avatar Legends Digital Pop Series. “Each pack of Digital Pop! You have the chance to win one of these rare Funko Digital Pop! when opened, which can then be redeemed for a free, limited edition, physical vinyl collectible,” Funko’s Avatar Legends announcement details.
The Avatar Legends NFTs follow Funko’s recent launch of Jay and Silent Bob Digital Pop NFTs. Funko has also published Digital Pop NFTs for Jay and Silent Bob and Avatar Legends NFTs. These include brands such as Warner Bros. and Hanna Barbera and My Little Pony.
NFT sales were down by 25.26% over the previous week. Interest in NFTs has plateaued, as Google Trends data indicates that worldwide searches for the term “NFT” dropped from an all-time high score of 100 at the end of January, to the current score of 16.
Funko Digital Pop NFTs are issued on the Wax blockchain which saw $379K in sales during the past seven days, according to cryptoslam.io’s weekly stats. In June, the Wax blockchain average sale was $6.46 per NFT. July’s average was $4.63. The Cryptoslam.io data show that Wax has the ninth highest NFT sale among 17 blockchains.
Dappradar.com stats further reveal that the Atomicmarket non-fungible token marketplace Wax is the 10th largest NFT market in terms of sales all time. On August 9, Funko’s non-fungible tokens will be distributed via the NFT platform Droppp. A few days ago, Paramount’s PARA shares were downgraded by Goldman Sachs, while FNKO shares have been on a tear.
Funko’s shares have been doing well because the company has seen “solid demand across product categories,” according to a zacks.com report published on Friday. Funko purchased Mondo Limited Edition Screen-Printed Poster Producer Mondo last June. The consumer products firm Funko’s quarterly earnings are expected to be released soon.
How do you feel about Funko partnering with Paramount Global in introducing Avatar Legends Digital Pop TFTs? Comment below and let us know how you feel about the subject.
Images CreditShutterstock. Pixabay. Wiki commons. Funko. Paramount Global. Avatar Legends.
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