Funko has taken its first steps into the world of digital collectibles with the launch of Funko Digital Pop!
Funko introduces digital collectible cards with Digital Pop!
Funko Digital Pop! are NFTs in the form of digital collectible cards featuring unique Pop! stylized figures. NFTs stands for non-fungible tokens. A non-fungible token is a unique unit of data that is created and stored on a digital ledger called blockchain.
There are no doubt many Funko Pop! fanatics who are unfamiliar with the terms NFTs and blockchain, so here’s a beginner’s guide to blockchain, NFTs, and the future world of digital collectibles.
Blockchain and the underlying technology are still fairly new, but the possibilities are endless. A non-fungible token (NFT) is, as it were, a digital product that uses this blockchain technology.
Blockchain
A blockchain is essentially a decentralized digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions or data, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger.
Decentralized blockchains are immutable, meaning the data entered is irreversible. The data stored on the blockchain cannot be changed or deleted.
NFTs
All kinds of information and data can be stored on a blockchain, including contracts, cryptocurrency such as Bitcoin and now also NFTs. Non-fungible tokens can be used for anything and everything, as long as it’s digital. Think of digital drawings, digital art or collectibles and in our case Funko Digital Pop!
Non-fungible more or less means that it is unique and can’t be replaced with something else. For example, the cryptocurrency Bitcoin is fungible. Swap one Bitcoin for another Bitcoin, and you have exactly the same.
However, a unique digital collectible is non-fungible. If you traded it online for another digital collectible, you’d have something completely different. Non-fungible tokens are unique and cannot be counterfeited.
So in short, NFTs are unique digital objects, which are created and stored on the blockchain. Like cryptocurrency, NFTs can be bought and traded online and kept in a digital wallet. The transaction of the purchase and all future transactions of the NFTs are now permanently recorded on the blockchain.
NFTs cannot be modified, copied or deleted and ownership of the NFTs rests with the owner of the digital wallet in which the NFTs are held. For (digital) collectors, NFTs are the invention of the century and problems such as counterfeits or broken packaging are a thing of the past.
NFTs are currently a big hype with huge possibilities and Funko is eager to get a slice of the digital collectibles world.
Funko Digital Pop! NFTs
Funko has partnered with WAX (Worldwide Asset eXchange) and Tokenhead to release and organize Funko Digital Pop! NFTs.
WAX is the world’s leading decentralized video game and entertainment network and the Funko Digital Pop! NFTs are stored on the WAX blockchain. Tokenhead is a populair NFT app and the best way to organize all your Funko Digital Pop! NFTs.
In early August 2021, Funko, WAX and Tokenhead brought the first unique Digital Pop! NFTs to life. The first series of Funko Digital Pop! collectibles is dedicated to the Teenage Mutant Ninja Turtles (TMNT). The TMNT Digital Pop! series features a unique collection of 100 action-packed digital collectible cards.
Each Funko Digital Pop! series features a limited number of uniquely designed Digital Pop! NFTs, in the form of digital collectible cards, which collectors around the world can buy, sell and trade with others. All Funko Digital Pop! NFTs are limited edition and are stored on the WAX blockchain.
Funko Digital Pop! series are offered in two different packs to choose from, Standard and Premium. All packs contain a random selection of pre-minted Digital Pop! collectible cards.
The collection of each Digital Pop! series is divided into six different rarities to collect: Common, Uncommon, Rare, Epic, Legendary and Grail.
Gather one of each single Common, Uncommon, Rare and Epic Digital Pop! to complete your Mastery Collection of the Series and redeem a rare and exclusive physical Funko Pop! This is also the case if you are lucky enough to unpack a Legendary or Grail rarity in your pack(s).
How to buy Funko Digital Pop! NFTs
Funko Digital Pop! NFTs are stored on the WAX blockchain and managed through a WAX Cloud Wallet.
Create a WAX Cloud Wallet to start your Funko Digital Pop! experience. Visit the YouTube WAX tutorial for a step-by-step walkthrough of set up.
Each Funko Digital Pop! release will have a drop website to purchase and open packs. Funko Digital Pop! are offered in packs starting at $9.99 USD, containing 5 pre-minted Digital Pop! NFTs. The number of packs for sale is limited.
Funko Digital Pop! can be purchased with a credit card on the drop website and can be managed within your WAX Cloud Wallet.
Download the TokenHead app on iOS App Store or Google Play to view your Funko Digital Pop! collection!
Each Digital Pop! purchase also gives you a chance to redeem for a free, rare and exclusive physical Pop! Both unopened packs and individual Digital Pop! are tradable and hold value.
How to collect and trade Funko Digital Pop! NFTs
Collectors around the world can buy, gift and trade Funko Digital Pop! collectibles with others.
Each Funko Digital Pop! release has a limited number of packs for sale. The packs of the first release, the TMNT Digital Pop! series, sold out in a very short time. Packs purchased can be opened on the drop website or in your WAX Cloud Wallet.
All Digital Pop! packs or cards on the WAX blockchain that you own, will appear in the “NFTs” section of your WAX Cloud Wallet. You can also view your Digital Pop! NFTs in the TokenHead mobile app available on the Apple App Store and Google Play store.
The complete catalog of all available NTFs of each Funko Digital Pop! series can be found on the drop website.
After the Funko Digital Pop! NFTs are listed and sold out on the drop website, individual cards and packs are then offered on so-called WAX secondary marketplaces, such as AtomicHub. AtomicHub is a one-stop solution marketplace where collectors can easily buy, sell and trade NFTs using their WAX Cloud Wallet.
To buy or trade Funko Digital Pop! NFTs on these secondary marketplaces, collectors or traders need WAX tokens. (WAXP).
The transactions that take place and the NFTs listed on the WAX platform are all priced using the WAX cryptocurrency called WAX Token (WAXP). This ensures the tokenization and exchange of the virtual goods for sale for the WAX currency.
WAX tokens can be purchased from various cryptocurrency exchanges, including Binance and KuCoin. After purchase, the WAX tokens can easily be sent to your WAX Cloud Wallet.
