Funko: From Vinyl Figures To NFTs
In May 2022, Funko was acquired by The Chernin Group, eBay, and Robert Iger. It was a turning point for the company, which had seen years of growth and success. But how did they get there? In this article, we will take a look at the history of Funko, from its early days as a small startup to its eventual acquisition by some of the biggest names in the business.
Funko was founded in 1998 by two friends, Brian Mariotti and Mike Becker. The pair had a shared love of pop culture and wanted to create a company that would produce fun, collectible products based on their favorite characters. They started by making vinyl figures of popular culture icons like Darth Vader and Godzilla. These early figures were a hit with fans, and the company soon began to expand its offerings.
In 2005, Funko released its first line of POP! Vinyl Figures. These cute, stylized figures quickly became a collectible sensation. Today, there are hundreds of different POP! Figures available, ranging from classic movie characters to modern-day celebrities. In addition to Pop! Figures, Funko also produces a wide variety of other products, including plush toys, keychains, and even clothes.
Funko’s success is due in part to their clever marketing. The company has partnered with some of the biggest names in entertainment, including Marvel, DC Comics, and Disney. They have also created exclusive lines of products for major retailers like Target and Hot Topic. As a result of these partnerships, Funko’s products are now available in over 80 countries around the world.
In August 2021, the release of the first Funko Non-Fungible Token or NFT occurred. It featured the Teenage Mutant Ninja Turtles. It paved the way for die-hard collectors to transition to the NFT space. Collaborations including Transformers, DC, and other pop culture characters have been released. These drops had sellout success and have even built a reselling market.
Funko’s success is a true rags-to-riches story. What started as a small startup has now become a global phenomenon. Thanks to their clever marketing and partnerships, Funko has become a household name. Who knows what the future holds for this company? One thing is for sure: they’re not going anywhere anytime soon.
This August 9th, 2022, Funko will be releasing its latest NFT. It will feature Nickelodeon’s Avatar Legends Series 1. The release will happen on Droppp.io. In the past, the drop is a queue style that picks people randomly. A WAX wallet will be required for the drop.
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