Funko Announces Plans to Enter NFT Market Using WAX on vIRL Merchandise On the Blockchain
Today, The Worldwide Asset eXchange™ (WAX), the world’s leading entertainment NFT network, announced that Funko, a leading pop culture consumer products company, plans to extend Funko’s pop culture platform to include digital assets on the Blockchain.
Beginning in June of this year, Funko expects to launch their initial collectible NFT offerings using WAX’s powerful blockchain platform, which ensures verifiable authenticity for all NFT purchases. WAX’s unique vIRLTM technology will enable Funko’s physical collectibles to be owned and traded as digital items with added value.
At a starting price point of $9.99, pop culture fans will be able to purchase packs of NFTs featuring Funko’s unique stylizations. Collectors who score ultra-rare Funko NFTs will also be able to redeem those NFTs for exclusive, corresponding physical Funko figures. Collectors can look forward to a new unique Funko property to be released on the WAX platform each week.
“We are excited that Funko plans to utilize the WAX blockchain and WAX vIRLsTM with NFTs that are directly linked to physical products,” said William E. Quigley, co-founder of WAX. “WAX offers the safest and most convenient way for Funko to enter the NFT market and for collectors to expand their assortments with digital assets.”
The Worldwide Asset eXchange™ (WAX), known as the King of NFTs, is the world’s leading entertainment NFT network. In 2018, WAX introduced vIRLsTM, giving consumer product companies the ability to link NFTs to physical consumer products. Cofounded in 2017 by William E. Quigley and Jonathan Yantis, WAX delivers the safest and most convenient way to create, buy, sell, and trade virtual items and physical products (NFTs and vIRLsTM) to anyone, anywhere in the world. WAX has facilitated the trade of more than 100 million digital items of collections including Blockchain Heroes, Topps GPK, Deadmau5 and Capcom’s Street Fighter. For more information, please visit https://wax.io and follow along on Twitter and Discord.
vIRLs are real world merchandise and services that are linked to NFTs. Invented and patented by WAX, vIRLs provide the easiest and most sustainable way to purchase, exchange and trade a consumer product. vIRLs are the core element of v-commerce.
The act of buying, selling and trading virtual items linked to real world merchandise and services.