One of the main points you need to look for in a successful NFT project is who the creators are, projects created by big names generally do incredibly well, but there needs to also be great utility that gives real value to users. We've stumbled upon a project that has been created by one of the LARGEST collectible companies in the world with collectors ranging from average Joe to Robert Downey Jr and everyone between. We know there are already a lot of pop culture NFTs out there, but none as huge as this. The best thing about this company's product is that people enjoy them, they don't collect them for status or for value, it's something everyone enjoys collecting. In this article we'll walk you through everything you need to know to get you started on this NFT project at the ground level.
If you haven't guessed by now, the company were referring to is none other than Funko and their infamous POP! collectibles. As you read this you undoubtedly either own at least one yourself or know of someone that owns these fun pop culture collectibles. Funko has decided to enter the NFT space with Funko Digital Pop! You can find them here at www.digital.funko.com. These Pop! NFT's are displayed as cards which you buy in packs and are randomized within the pack but specific to a collection. The cards look AWESOME, the pop figures displayed on the cards are animated and come in different rarity as well as utility, the most rare of them all can be redeemed for a physical version of itself and you get to keep the digital copy too! If you're an avid collector you can complete a royalty collection in each release by collecting at least one Pop! of each rarity (Common, Uncommon, Rare and Epic), if you succeed in this task you will be eligible to claim a rare physical Pop! figure exclusive to that release.
Digital Funko's are built on the WAX blockchain, which we've previously covered here before as an NFT king blockchain, and were able to be bought with your WAX wallet, but have moved their collection to Droppp.io which is just a 3rd party platform used to facilitate drop events, this is also where purchases are made on drop day, but don't worry, the project still runs on the WAX blockchain. There have been 7 collections on Droppp so far including the likes of Star Trek, Bob Ross and my personal favourite, Nickelodeon!! The next collection to drop is Transformers on March 15th, you can check out the details on their app. You'll need a Droppp account and wallet to participate but there's nothing complicated about making one. Admittedly, the Droppp site is a little clunky to use, they boast a user friendly experience but there are some bugs that you're sure to come across, nothing game breaking though.
Currently there is no official secondary marketplace, however, your NFT's can be bought, sold and traded on wax.Atomichub.io which seems to be the most popular among Digital Funko collectors. The great thing about this marketplace is that it is, as you may have guessed already, run on the WAX blockchain which means low to no transaction fees. You can purchase unopened packs on Atomichub, but they are pricey, 130 WAX ($35.67USD) for a standard pack and 350 WAX (96.11USD) for a premium pack (these are for the Nickelodeon collection), it's also important to note that these are being sold by the community so these are the lowest prices at the time of writting this, they may and very likely will fluctuate over time, especially as they become more scarce. If you know a bit about trading NFT's you'll know the importance of Mint numbers, it seems only a few sellers in the Funko community share that knowledge which makes some amazing bargains available, for example a mint #1 of 3250 Reptar is currently going for 454 WAX ($125USD) and a mint #1 of 3250 Superhero Tommy is going for 275 WAX, (75.71USD) while the higher rarities are going for much higher prices.
Digital Pop!'s can be purchased in either a standard pack for $9.99USD or a premium pack for $29.99USD, Standard packs contain 5 randomized Pop! cards and premium packs contain 15 randomized Pop! cards and there will be a limit of 18,000 packs for each pack type, so 36000 packs total and will NEVER be re-released.
How exactly do you buy these NFTs? For the initial sale by Funko you'll want to head to Droppp.io and purchase from there using fiat (your local currency) on the specified days at the specified times, at the moment they're seeing initial sales sell out in about 30mins so you'll want to be as early as you can, but remember, as with what happened to Veve, with more popularity and a larger user base those initial sales will be selling out faster and faster as time goes on. Once the initial 36,000 packs are sold out you can head over to wax.atomichub.io to buy and sell on the marketplace, remember, when searching for a collection go to the "Market" tab and use the search function on the LEFT of the screen to find the sales for that collection. It's a good idea to familiarize yourself with the rarities before buying and selling on the secondary market so you have the best chance at the best possible prices. If you've been through out NFT Masterclass you'll know all about mint numbers and sniping strategies, it will be a lot slower at first and opportunities will be available for a lot longer but, again, as popularity rises those great buys will need a swift trigger finger to nab before anyone else gets to them first. That's it! Stay up to date on their Discord, know when the drops will be and come up with a strategy and you'll make it big here. Just a side note, where do you display your Pop! figures that you own now? Where do you think they'll be the most popular with current trends? I have a feeling your MetaHouse might be just that place, don't you?
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