On July 29, Funko, a pop-culture consumer products firm, announced that the company had partnered with multinational mass media and entertainment corporation Paramount Global. Both corporations plan to launch a series of non-fungible tokens (NFTs) based on the Avatar Legends universe. Funko’s latest Avatar Legends digital pop release will be released on August 9, 2022 via NFT platform Dropp.
Avatar Legends NFT – publicly listed consumer products firm Funko collaborates with Paramount
Funko (Nasdaq: FNKO) has announced that the company has partnered with entertainment corporation Paramount (Nasdaq: Para) and plans to release a new collection of NFTs based on the Avatar Legends universe. The franchise Avatar Legends stems from the popular Nickelodeon-based Avatar animated television series. , “The Last Airbender” and “The Legend of Korra.”
The upcoming Funko and Paramount Digital Pop NFTs will feature popular characters such as Kuruk, Painted Lady and Fire Nation Ang. “Avatar Legends x Funko Series 1 Coming Soon to Digital Pop! Dropp,” Funko tweeted on Friday. The NFT will feature Funko’s unique bobble-head, pop art style, and the standard NFT pack from Avatar Legends will be $9.99 per pack.
The premium pack will cost $29.99 per unit and Funko says the Avatar Legends Digital Pop series will total 625,000 NFTs. “Each pack of Digital Pops! gives you the chance to reveal one of the rare Funko Digital Pops! When opened, which can then be redeemed for a free, limited edition, physical vinyl collectible,” incarnation of Funko Legends announcement details.
Avatar Legends NFT follows Funko’s recent launch of Jay and Silent Bob Digital Pop NFT. In addition to Jay and Silent Bob and Avatar Legends NFTs, Funko also released digital pop NFTs from brands such as Warner Bros., Hanna Barbera, My Little Pony, Kellogg’s, Transformers, Bob Ross, Star Trek, DC Comics and Iron Maiden. ,
Meanwhile, NFT sales have been muted during the past few weeks, and the last seven days of NFT sales are down 25.26% compared to the previous week. Interest in NFTs has waned, as Google Trends data indicates that worldwide searches for the word “NFT” have fallen from an all-time high score of 100 in late January to a current score of 16.
According to weekly data from Cryptoslam.io, Funko Digital Pops issued on the NFT WAX blockchain have generated $379K in sales during the past seven days. The average sales for the VAX blockchain in the month of June was $6.46 per NFT, and in July the average was $4.63. Cryptoslam.io metrics show that VAX is the ninth largest blockchain in terms of NFT sales among the 17 networks.
Data from Dappradar.com further shows that the VAX non-fungible token market Atomic Market is the tenth largest NFT market in terms of all-time sales. On August 9th, Funko’s non-fungible tokens will be distributed via NFT platform Dropp. A few days ago, Paramount’s Para shares were downgraded by Goldman Sachs, while FNKO’s shares declined.
According to a zacks.com report published Friday, Funko’s shares are performing well as the company has seen “solid demand across product categories.” Funko recently acquired collectibles brand and limited edition screen printed poster maker Mondeo in June. Consumer products firm Funko’s quarterly earnings are expected to be released soon.
What do you think about Funko teaming up with Paramount Global to introduce Avatar Legends Digital Pop NFT? Let us know what you think about this topic in the comment section below.
image credit: Shutterstock, Pixabay, WikiCommons, Funko, Paramount Global, Avatar Legends
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