Afraid Funko may not support more products

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lynder77
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Afraid Funko may not support more products

Postby lynder77 » Tue Sep 19, 2023 3:37 pm

I really hope Funko continues to support more NFT drops. I am afraid they don’t leave the packs up long enough. Not sure why remaining product needs to be burned. I hope Funko, with all its recent changes, will try marketing the product better, bring back the video process and try promoting NFTs a different way. More promotion is needed. What do u all think?

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Re: Afraid Funko may not support more products

Postby Serch_na » Tue Sep 19, 2023 4:04 pm

The hype just died, nothing to do with promotion, just the ones that invested for big money are not even intrested now
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Re: Afraid Funko may not support more products

Postby Stat32111 » Tue Sep 19, 2023 7:24 pm

I think the lines they’re dropping just aren’t popular enough to support how many packs they’re releasing. I think a Halloween series 2 would easily sell out, but not too many people eager to buy lines like Steven Universe etc
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Re: Afraid Funko may not support more products

Postby Kenshin21 » Tue Sep 19, 2023 8:11 pm

They did something to either combat the bots/resellers after the dark knight drop. Or there just isn’t enough demand for the resellers to invest in this. I think many of the bigger collectors got out of the hobby or are being real selective going forward.

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Re: Afraid Funko may not support more products

Postby Valde » Tue Sep 19, 2023 8:26 pm

It has to be a combination of the Turtle situation, not destroying all non redeemed products, and properties that just don’t sell. Make more Batman stuff, or drop an Anime set and it’ll probably sell out. They should probably just make smaller runs, 3000 of each pack and call it a day. Scarcity bring demand and hype for a product.
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Re: Afraid Funko may not support more products

Postby FunkoPDX » Tue Sep 19, 2023 8:28 pm

They just need to make less packs and increase the odds for redeemable's.

Unfortunately a lot of people have had bad luck and don't want to try their luck again.

I feel that this would make them a bit more enticing.
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Re: Afraid Funko may not support more products

Postby RedRoo » Tue Sep 19, 2023 8:33 pm

i think they just need to look at the amount of packs there releasing and not oversaturate the amount, With the recent drop theres a high chance a large amount of legendarys and grails were burned
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Re: Afraid Funko may not support more products

Postby Optimistic » Tue Sep 19, 2023 8:40 pm

This is a pure money printer, they aren't going to stop doing this because they don't sell out of all of them and they "burn" basically free to make cards.

From someone who hasn't gambled on this, there's a number of reasons you can consider why they haven't been sold out recently - Burn out of the whale collectors with so much dropping and other releases during con season, people just buying what they want after market, people being really selective what they collect, distrust after Buckeye and Ebay scandal. But easily the main reason aren't selling out is because the last four drops dramatically increased the amount of packs available compared to before. They made 100k packs for Stranger Things, 60k for Jurassic Park. Compare this to just about any, even high marquee ones like Dark Knight, and there are far more now then before. The only one on the same level was Avatar but that is just massive of a collector base.

So yeah, they "burned" 20,000 JP packs. They also sold 40,000, which is a sell out the way any other line would be. They are still making boatloads off this and aren't stopping.
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Re: Afraid Funko may not support more products

Postby scullysdad » Tue Sep 19, 2023 8:57 pm

I think the NFT hype has died since the crypto market has cratered. There are still sets that will sell out - if they do Halloween 3 in the next month, it will 100% sell out - but older licenses like Steven Universe are not setting the world on fire.

I can't see Funko stopping as long as they are making some money. They bought Droppp specifically to handle the NFT side of the business, no way they are shutting that down.
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Re: Afraid Funko may not support more products

Postby bluesnote » Tue Sep 19, 2023 9:01 pm

Stat32111 wrote:I think the lines they’re dropping just aren’t popular enough to support how many packs they’re releasing. I think a Halloween series 2 would easily sell out, but not too many people eager to buy lines like Steven Universe etc


I completely agree. The big money lines have already been released. Now it's kinda slim pickings for lines. The majority of recently NFT drops haven't had a huge following so they haven't sold very well.
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Re: Afraid Funko may not support more products

Postby nerdandcheese » Tue Sep 19, 2023 9:25 pm

Needs a reboot
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Re: Afraid Funko may not support more products

Postby Geescube » Tue Sep 19, 2023 9:53 pm

Certainly doesnt help that they made commons that were eerily close enough to a couple legendary molds for MMPR and HOTD. Had i been privy to those common molds prior to the NFT DROPS i def wouldnt have spent what i did on the packs or the aftermarket. Whats done is done now but theres big sense of distrust i believe.
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Re: Afraid Funko may not support more products

Postby mongoose12 » Tue Sep 19, 2023 10:06 pm

Geescube wrote:Certainly doesnt help that they made commons that were eerily close enough to a couple legendary molds for MMPR and HOTD. Had i been privy to those common molds prior to the NFT DROPS i def wouldnt have spent what i did on the packs or the aftermarket. Whats done is done now but theres big sense of distrust i believe.


Perfectly stated. I’m still into the entire nft concept but it’s taken a few blows or self inflicted wounds.
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Re: Afraid Funko may not support more products

Postby CaseyJones14 » Tue Sep 19, 2023 10:26 pm

Wax is worth 4 cents right now. That’s the biggest issue TBH.
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Re: Afraid Funko may not support more products

Postby MasterSplyntr » Tue Sep 19, 2023 11:02 pm

Geescube wrote:Certainly doesnt help that they made commons that were eerily close enough to a couple legendary molds for MMPR and HOTD. Had i been privy to those common molds prior to the NFT DROPS i def wouldnt have spent what i did on the packs or the aftermarket. Whats done is done now but theres big sense of distrust i believe.


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Re: Afraid Funko may not support more products

Postby wengderful » Wed Sep 20, 2023 1:45 am

It’s time again to make a new series of Freddy
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Re: Afraid Funko may not support more products

Postby aprilyoufools » Wed Sep 20, 2023 2:08 am

Some combination of the decreased value of WAX, my personal lack of interest in the IP's for the recent NFT series, and mainline sculpts being too close for comfort to some redeemables has had me uninterested for quite some time. Plus some have been choosing to wait to simply buy the redeemables either as NFTs from the secondary market to redeem or once they're in-hand rather than buying packs in the initial drop.
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Re: Afraid Funko may not support more products

Postby Wiselordship » Wed Sep 20, 2023 9:31 am

aprilyoufools wrote:Some combination of the decreased value of WAX, my personal lack of interest in the IP's for the recent NFT series, and mainline sculpts being too close for comfort to some redeemables has had me uninterested for quite some time. Plus some have been choosing to wait to simply buy the redeemables either as NFTs from the secondary market to redeem or once they're in-hand rather than buying packs in the initial drop.


This sums up the NFT part perfectly.
But I am sure with the lack of social media team members, and the other changes, they have lost of their promotional power. So hopefully they add some social media people back so we can have all the unboxing and all they used to do. Think it is less a support issue and more a lack of people to do it justice.

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Re: Afraid Funko may not support more products

Postby mongoose12 » Wed Sep 20, 2023 9:45 am

I thought about more and I also think the lackluster IP's being used (my opinion) haven't exactly caused waves of excitement. Understandably all drops can't be heavy hitters but here are the last 7 drops which to me have been 'meh' at best with perhaps Stranger Things being the exception (bc of Eddie Freddy mostly):

Jurassic Park
Steven Universe
Power Rangers Movie
Stranger Things
IT
Adventure Time
The Dark Knight (DC)

I just think we've been lacking in "wow" IP's with amazing grails for a while now. Still enjoy NFTs and hope they can make adjustments to get everyone excited again.
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Re: Afraid Funko may not support more products

Postby willy wonka » Wed Sep 20, 2023 10:25 am

I think they should leave these up longer before burning them. It might just be easier to burn them rather than keep them up in the hopes of selling more
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Re: Afraid Funko may not support more products

Postby cliffd64 » Wed Sep 20, 2023 10:50 am

As many have pointed out, it all boils down to the licensing and the IPs that are pushed out. Funko needs to make gains in acquiring more exciting licenses. When that happens, they can bring out NFTs that people find interesting. The other issue is that they have to start figuring out what the sweet spot is for numbers packs/cards so that they can minimize the burning of extra packs. It seems like if they keep the legendaries under 2000 pieces and Royalty under 2500 for most sets the rarity factor can kick in. Based on that level of redeemables, that should prescribe the proper amount of total cards and packs that need to be minted.

Another issue is that these are/were marketed as more like a premium and exclusive product, but execution of managing, packaging, and shipping the products has not reflected that consistently, and in some cases the exclusive redeemable figures featured have been subverted by new similar common figures which drives people away from NFTs. This needs to be addressed... if it's a premium and exclusive product - then treat it as such and upgrade the experience across all aspects.
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Re: Afraid Funko may not support more products

Postby aprilyoufools » Wed Sep 20, 2023 12:10 pm

Wiselordship wrote:
aprilyoufools wrote:Some combination of the decreased value of WAX, my personal lack of interest in the IP's for the recent NFT series, and mainline sculpts being too close for comfort to some redeemables has had me uninterested for quite some time. Plus some have been choosing to wait to simply buy the redeemables either as NFTs from the secondary market to redeem or once they're in-hand rather than buying packs in the initial drop.


This sums up the NFT part perfectly.
But I am sure with the lack of social media team members, and the other changes, they have lost of their promotional power. So hopefully they add some social media people back so we can have all the unboxing and all they used to do. Think it is less a support issue and more a lack of people to do it justice.

I agree - if they put more energy toward more education on how to set up WAX and droppp accounts, maybe leaving packs up for purchase for a little longer so people can buy them more casually, and yes unboxing these redeemables and showing them up-close, then there could more collectors investing into it. Also if they simply lowered the # of packs available since it's been a while since there's been a sold-out drop.
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Re: Afraid Funko may not support more products

Postby Dave17251 » Wed Sep 20, 2023 12:56 pm

They need to expand into other IPs. As much as I love WB, I don't want another Looney Toons or CN drop for a while. Disney, Marvel or Anime would be nice but these territories come with strict guidelines.
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Re: Afraid Funko may not support more products

Postby deadlycollects » Wed Sep 20, 2023 1:20 pm

lynder77 wrote:I really hope Funko continues to support more NFT drops. I am afraid they don’t leave the packs up long enough. Not sure why remaining product needs to be burned. I hope Funko, with all its recent changes, will try marketing the product better, bring back the video process and try promoting NFTs a different way. More promotion is needed. What do u all think?



I think the hype died out once they starting making too many packs. People would buy packs hoping to hit something but since there was too many packs still to be opened the chanced of getting anything is slim. People just dont wanna waste their money on nothing and rather spend in the secondary market

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Re: Afraid Funko may not support more products

Postby Boszdrew » Wed Sep 20, 2023 10:10 pm

this is just a trash drop but it's sad
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Re: Afraid Funko may not support more products

Postby DrunkoPop » Fri Sep 22, 2023 5:33 pm

Serch_na wrote:The hype just died, nothing to do with promotion, just the ones that invested for big money are not even intrested now


Good point. I use to be upset when I missed out on a drop, now it doesn’t really bother me TBH :-({|=
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Re: Afraid Funko may not support more products

Postby Sarcasticguy » Fri Sep 22, 2023 6:08 pm

The NFT market across all platforms has shown a huge decrease, not just with Funko and Droppp. Unfortunately the Funko products will follow the trend and they probably won't see value in keeping it going.
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Re: Afraid Funko may not support more products

Postby Hot_Dog_Vendor » Thu Oct 26, 2023 6:29 pm

I still am not 100% sure how to post a picture, but someone had a picture with Mike Becker at NYCC and he told them that they are going to put some more focus on NFTs this next year. I wasn't there so can't confirm he actually ssid it, but with the them doing some glow NFTs hopefully it is true.
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Re: Afraid Funko may not support more products

Postby Funkolotz1622 » Thu Oct 26, 2023 10:21 pm

Hot_Dog_Vendor wrote:I still am not 100% sure how to post a picture, but someone had a picture with Mike Becker at NYCC and he told them that they are going to put some more focus on NFTs this next year. I wasn't there so can't confirm he actually ssid it, but with the them doing some glow NFTs hopefully it is true.


I just hope they make better molds and characters
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Re: Afraid Funko may not support more products

Postby theraven00 » Fri Oct 27, 2023 2:41 pm

Sarcasticguy wrote:The NFT market across all platforms has shown a huge decrease, not just with Funko and Droppp. Unfortunately the Funko products will follow the trend and they probably won't see value in keeping it going.

I think it's all collectibles going through a bit of a pullback. The market was so hot during the pandemic that people were buying anything and everything. Now you can actually buy sports cards at Target without worrying that someone is going to jump you on the way to the parking lot.lol
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Re: Afraid Funko may not support more products

Postby Sarcasticguy » Fri Oct 27, 2023 4:19 pm

theraven00 wrote:
Sarcasticguy wrote:The NFT market across all platforms has shown a huge decrease, not just with Funko and Droppp. Unfortunately the Funko products will follow the trend and they probably won't see value in keeping it going.

I think it's all collectibles going through a bit of a pullback. The market was so hot during the pandemic that people were buying anything and everything. Now you can actually buy sports cards at Target without worrying that someone is going to jump you on the way to the parking lot.lol


Idk the rare Funko market is wild right now. Pieces going for the cost of brand new cars.

I think part of the NFT issue is crypto in general had a big decline. Not to mention MANY celebrities getting backlash for failed nfts/crypto endorsements.
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Re: Afraid Funko may not support more products

Postby Beaniiman » Fri Oct 27, 2023 4:21 pm

I really like the nft drops and look forward to them. The last one was really easy to get packs even 45 mins after start and I got a grail and a few legendary. i honestly like having the nfts though, wish more people would care about collecting sets and things but its just like baseball cards without the hassle and cost of cases.
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Re: Afraid Funko may not support more products

Postby kihou » Fri Oct 27, 2023 4:37 pm

I think they are trying to figure out what a good balance is for LE numbers (like how many you need for a royalty), how many packs to sell, what licenses are successful, etc. Certain ones seem to do way better than others, and if they were to do certain lines like Marvel or Star Wars or anime series, I could see them being more popular. I do think it's fun and nice that their own IP lines have been successful like the Halloween ones (and the set next week seems to be generating a lot of hype).
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Re: Afraid Funko may not support more products

Postby renardchua » Sat Oct 28, 2023 2:58 pm

The wait - from nft drop to actual receipt of the item, plus the “value” of the item from the redeemable digital card transfers to the coin and eventually to the actual item I think plays a big role as well.
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Re: Afraid Funko may not support more products

Postby Funkolotz1622 » Sat Oct 28, 2023 9:43 pm

Beaniiman wrote:I really like the nft drops and look forward to them. The last one was really easy to get packs even 45 mins after start and I got a grail and a few legendary. i honestly like having the nfts though, wish more people would care about collecting sets and things but its just like baseball cards without the hassle and cost of cases.


Some sets are really easy to get but congrats with your pulls
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Re: Afraid Funko may not support more products

Postby sealordbrian » Sun Oct 29, 2023 9:35 am

Don't see a reason they would not continue to support. That being said, I think there are some seasonable changes they could make that would make the overall process better. Things like reducing the overall pack count for drops to providing Pop protection upon shipping. They could even roll that into the cost.

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Re: Afraid Funko may not support more products

Postby Funkolotz1622 » Sun Oct 29, 2023 6:19 pm

sealordbrian wrote:Don't see a reason they would not continue to support. That being said, I think there are some seasonable changes they could make that would make the overall process better. Things like reducing the overall pack count for drops to providing Pop protection upon shipping. They could even roll that into the cost.


I think they just need to provide more effort in packaging them. it's more headache for them when people start complaining
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Re: Afraid Funko may not support more products

Postby scullysdad » Mon Oct 30, 2023 11:34 pm

renardchua wrote:The wait - from nft drop to actual receipt of the item, plus the “value” of the item from the redeemable digital card transfers to the coin and eventually to the actual item I think plays a big role as well.


The wait is definitely part of it, so many people on Discord complain about how long it takes. It doesn’t bother me but I can see why people don’t like spending a few hundred $$$ and not seeing the Pops for close to a year.
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Re: Afraid Funko may not support more products

Postby DrunkoPop » Thu Nov 09, 2023 8:47 pm

the less, THE BETTER.
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Re: Afraid Funko may not support more products

Postby Serch_na » Fri Nov 10, 2023 11:39 am

DrunkoPop wrote:the less, THE BETTER.


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