Space Jam Funko NFT Gains Unexpected Traction - 83.4% of NFTs Are Sold

Many collectors were rather skeptical about the theme of the new Funko NFT collection, but it sold even better than the recently released Harry Potter Funko Pop NFTs.

Bunnies playing basketball
In the meantime, the lowest prices for Harry Potter Funko NFT Premium packages have reached almost 55 USDC.

Yesterday at 11 am PT, Funko released its new NFT collection dedicated to the characters of the 1996 classic Space Jam film, following the launch of NFTs celebrating Funko’s Fantastik Plastik collection.

Funko's NFT trading cards were traditionally available in Standard packs featuring five items and Premium packs, which have recently been expanded to seventeen items instead of the usual fifteen collectibles. The number of packages this time was smaller than usual, with a total of 40,000 items.

Read also: Harry Potter Funko Pop NFTs - Success or Failure?

As per Droppp Marketplace data, nearly 4,780 collectors participated in the drop, which enjoyed a total trading volume of 29,270 USDC. Interestingly, these statistics about past Funko drops have been recently added to the website. However, they can only be checked for the past three collections. Furthermore, prior to the release of Space Jam, Funko listed all of its past collections on this page, while now only the most recent ones are represented.

Assessing the success of this collection may not be a straightforward task, as Funko has not witnessed drops with all NFTs sold out for quite a while. The drop of the Harry Potter Funko NFT collection was possibly the most successful among the latest Funko efforts to sell digital collectibles. Despite an unusually large number of packs equaling 62,000 offered by the toy company during the drop, less than 30% of NFTs remained unsold, which was a much better result than the one experienced by the preceding Squid Game Funko NFT collection, where only 47% of the digital cards were sold.

Space Jam Funko NFTs
Source: Funko,

Even though Funko did not manage to sell all of its Space Jam NFTs during the drop, there was a definite improvement in the statistics. While technically 31% of the packages were burnt, considering the different number of collectibles in the Standard and Premium packs, it is easy to estimate that the toy company lost only 16.6% of all NFTs.

This result of the drop may be safe to consider unexpectedly positive, especially since many collectors predicted its failure. Alongside recent issues with releasing uninventive physical figurines redeemable for NFTs, as well as common issues with their deliveries, there was also skepticism regarding the theme of the collection. The original Space Jam movie holds nostalgic value for many adults who grew up watching it, whereas its appeal among younger generations, who are often the primary demographic for NFT collections, was expected to be more limited.

Yet, despite these odds, the drop performed quite well. The sale of the Space Jam collectibles continues on the Droppp marketplace and secondary platforms. According to the official Droppp website, at press time, the price for a Standard pack started from 12.44 USDC, while Premium ones were traded for at least 34.95 USDC.

Read also: Transformers, Star Trek, and Star Wars Funko Pop: New NFTs Are Coming

By completing sets of NFTs, collectors have a chance to redeem physical collectibles, including Royalty figurines featuring Freddy Funko as a Tune Squad Player, Legendary figurines like M2, Lola Bunny, Daffy Duck, and Bugs Bunny, as well as the most coveted collectibles, the Grail figurines featuring Swackhammer with Nerdlucks.

As per Droppp, the most popular NFT cards from the collection traded on the marketplace at the time of publication were Epic Marvin the Martian, Rare M3 (Blue Monstar), Rare Bugs Bunny, and Rare Swackhammer.

Meanwhile, the prices for Harry Potter Funko NFT packages continue to rise. A Standard pack with cards from this collection is now offered for at least 19.40 USDC, whereas the minimum price of a Premium pack has reached almost 55 USDC.

According to recently leaked data, the legendary toy manufacturer is preparing for March drops of two space-themed collections: Star Wars and Star Trek, with the former particularly anticipated as it will be the first digital series dedicated to the famous franchise. Moreover, Funko is likely to release the second edition of the Transformers collection.