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Funko Partners with Entertainment Giant Paramount to Drop Avatar Legends NFTS

Funko Partners With Entertainment Giant Paramount to Drop Avatar Legends NFTs

On July 29, the pop-culture consumer products firm, Funko, announced that the company has partnered with the multinational mass media and entertainment corporation Paramount Global. Both companies plan to create a series non-fungible tokens, (NFTs), based on Avatar Legends. The latest Avatar Legends Digital Pop release from Funko will drop on August 9, 2022, via the NFT platform Droppp.

Avatar Legends NFTs — Publicly-Listed Consumer Products Firm Funko Collaborates With Paramount

Funko (Nasdaq: FNKO) has announced the company has partnered with the entertainment corporation Paramount (Nasdaq: PARA) and has plans to drop 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.”

Funko Partners With Entertainment Giant Paramount to Drop Avatar Legends NFTs
The Funko Avatar Legends packs and individual NFTs.

The upcoming Funko and Paramount Digital Pop NFTs are going to feature popular characters such as Kuruk, Painted Lady and Fire Nation Aang. “Avatar Legends x Funko Series 1 Digital Pop! coming soon to Droppp,” Funko tweeted on Friday. Funko’s original bobble-head and pop art style will be featured on the NFTs. The Avatar Legends standard pack of NFTs costs $9. 99 per pack.

Premium packs will be $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! You have the chance to win one of the rare Funko Digital Pop! When the package is opened, it can be used to redeem for a limited-edition, physical vinyl collectible.” Funko’s Avatar Legends announcement details.

The Avatar Legends NFTs follow Funko’s recent launch of Jay and Silent Bob Digital Pop NFTs. Funko also released Digital Pop NFTs by brands like Warner Bros. and Hanna Barbera as well as Jay and Silent Bob and Avatar Legends NFTs.

Meanwhile, NFT sales have been dreary during the last few weeks, and the last seven days of NFT sales are down 25. 26% lower than the week prior. Interest in NFTs has plateaued, as Google Trends data indicates that worldwide searches for the term “NFT” dropped from an all-time high score of 100 at the end of January, to the current score of 16.

Funko Digital Pop NFTs are issued on the Wax blockchain which saw $379K in sales during the past seven days, according to cryptoslam.io’s weekly stats. The average 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 Wax is the ninth largest blockchain in terms of NFT sales among 17 networks.

Dappradar.com statistics further show the Wax non-fungible token market Atomicmarket is the tenth largest NFT marketplace in terms of all-time sales. On August 9, Funko’s non-fungible tokens will be distributed via 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.

Funko’s shares have been doing well because the company has seen “solid demand across product categories,” according to a zacks.com report published on Friday. Funko recently acquired the collectible brand and limited edition screen printed poster producer Mondo in June. Expect Funko to release its quarterly earnings soon.

What do you think about Funko teaming up with Paramount Global to introduce Avatar Legends Digital Pop NFTs? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Funko, Paramount Global, Avatar Legends

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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