On July 29, pop culture consumer products company Funko announced that the company had partnered with multinational media and entertainment company Paramount Global. The two companies plan to introduce a series of non-fungible tokens (NFTs) based on the Avatar Legends universe. The latest version of Avatar Legends Digital Pop from Funko will be released on August 9, 2022 via the NFT platform Droppp.
Avatar Legends NFTs – Publicly Traded Consumer Products Company Funko Collaborates with Paramount
Funko (Nasdaq: FNKO) announced that the company has partnered with entertainment company Paramount (Nasdaq: PARA) and plans to drop a new collection of NFTs based on the Avatar Legends universe. The Avatar Legends franchise originated from the popular Nickelodeon-based animated television series Avatar. — “The Last Airbender” and “The Legend of Korra”.
Upcoming Funko and Paramount Digital Pop NFTs will feature popular characters like Kuruk, Painted Lady, and Fire Nation Aang. “Avatar Legends x Funko Series 1 Digital Pop! coming soon to Droppp”, Funko tweeted Friday. The NFTs will feature Funko’s unique bobblehead pop art style, and the standard pack of Avatar Legends NFTs will cost $9.99 per pack.
Premium packs will cost $29.99 per unit and Funko says there will be a total of 625,000 NFTs in the Avatar Legends Digital Pop series. “Each pack of Digital Pop! gives you a chance to reveal one of the rare Funko Digital Pop! once opened, which can then be redeemed for a free limited-edition collectible physical vinyl,” details Funko’s Avatar Legends announcement.
Avatar Legends NFTs Follow Funko’s Recent Launch Jay and Silent Bob Digital Pop NFT. In addition to the Jay and Silent Bob and Avatar Legends NFTs, Funko has also released digital Pop NFTs from brands including Warner Bros., Hanna Barbera, My Little Pony, Kellogs, Transformers, Bob Ross, Star Trek, DC Comics, and Iron Maiden . .
Meanwhile, NFT sales have been sluggish for the past few weeks, and the last seven days of NFT sales are down. 25.26% lower than the previous week. Interest in NFTs has plateaued as Google Trends data says global searches for the term “NFT” have gone from a peak score of 100 in late January to a current score of 16.
Funko Digital Pop NFTs are issued on the Wax blockchain which has seen $379,000 in sales in the past seven days, according to cryptoslam.io weekly statistics. The medium The wax blockchain sale during the month of June was $6.46 per NFT, and in July the average was $4.63. Cryptoslam.io metrics show that Wax is the ninth largest blockchain by NFT sales among 17 networks.
Dappradar.com statistics further show non-fungible token market Wax Atomicmarket is the tenth largest NFT market by sales of all time. On August 9, Funko’s non-fungible tokens will be distributed through 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.
Shares of Funko have done well because the company has seen “strong demand across all product categories,” according to a site zacks.com report released on Friday. Funko recently acquired collectible brand and producer of limited-edition screen-printed posters Mondo in June. Consumer products company Funko’s quarterly results are expected to be released soon.
What do you think of Funko teaming up with Paramount Global to bring the Avatar Legends Digital Pop NFTs? Let us know what you think about this topic in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Funko, Paramount Global, Avatar Legends
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