Funko announced Wednesday that it has joined forces with Walmart, a multinational retailer corporation, and Warner Bros. the American film and television studio to offer digital collectibles in the retail market. Funko claims that the digital collection is easy to use as both the physical and non-fungible tokens (NFT) can be purchased simultaneously.
Funko and Warner Bros. to drop NFTs tied to physical collectibles
The company that’s well known for creating unique bobbleheads and vinyl figurines, Funko (Nasdaq: FNKO), has announced a partnership with the entertainment firm Warner Bros. and the retail giant Walmart. Funko says the company is bringing NFTs to the retail space with a Digital Pop series that features DC’s “The Brave and the Bold” #28 (1959) Comic Cover Pop. This collectible depicts the Justice League teaming against Starro, and will only be available on Walmart.com from October 7.
Walmart Collector Con is where the Funko Digital Pop debuts, with a total of 30,000 available units. That includes the NFT and “its physical twin counterpart,” Funko explained on Wednesday. Funko has been into the non-fungible token (NFT) space for quite some time and recently partnered with the entertainment firm Paramount to drop “Avatar Legends” NFTs.
The company has positioned itself with a number of well known brands and the company’s Digital Pop series has highlighted cult classics like Jay and Silent Bob, and characters from DC Comics. Andrew Perlmutter is the chief executive of Funko. He explained how the company, a pop-culture collectibles business, is thrilled to introduce the latest Digital Pop NFTs into the retail market. We are thrilled to bring this first-to-market opportunity to the world’s largest mass retailer,” Perlmutter said. Funko CEO also added:
It’s a great opportunity for fans to have digital collectibles that feature fan favorite brands and characters.
Funko was not the only company to offer NFTs in the retail sector. At the end of February 2021, the trading card, candy, and collectibles company Topps introduced the “2021 Garbage Pail Kids Food Fight” series which included physical cards and Garbage Pail Kids (GPK) NFTs. GPK NFTs can be found in GPK cards packs sold at Target and Walmart.
Last month, the luxury jewelry and specialty retailer Tiffany & Co. launched jeweled Cryptopunk pendants tied to NFTs. In August 2021, the NBA Top Shot collection was available to fans who visited Top Shot vendor kiosks at last year’s NBA Summer League Games. Josh Hackbarth from Warner Bros., who is the Head of NFT Commercial Development at Warner Bros. explained that Funko Digital Pop’s latest offering at Walmart would reach a wider market.
“To bring this new collection of digital collectibles to retail will allow for an even broader reach and invite fans – both avid collectors and those that are entering the space for the first time, the opportunity to engage, physically and digitally, with beloved franchises, like DC,” Hackbarth said in a statement. “The Brave and the Bold” series first published by DC Comics in the 1950s features team-ups of well known DC characters from the comic book’s universe.
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