Yesterday, fans of the Star Wars franchise had the opportunity to participate in the inaugural Star Wars Funko Pop NFT drop. While the renowned toy manufacturer has previously released two collections dedicated to another iconic space franchise, Star Trek, this Star Wars Funko Pop NFT collection was a debut.
Determining the success of the Star Wars NFT drop is quite tricky. Given the franchise's popularity and the buzz surrounding the collection's debut, expectations for participation were high. However, according to Nicci, the representative from Droppp, 23% of the NFTs did not sell.
Read also: Star Trek Funko NFT Drop Doesn’t Make It - Almost 50% Burnt
For this drop, Funko produced more NFT packages than usual. The toy company increased the Standard packs, each containing five NFT trading cards, to 35,000. The total number of Premium packs was 30,000, with each pack containing seventeen NFTs.
Interestingly, the Premium packages were more popular this time despite their higher price. Nicci reported that 3,156 Premium packages were burned, accounting for 10.5% of these packages. In contrast, only 14,159 Standard packs were sold, meaning nearly 60% of them went unsold.
It is worth noting that some statistics shared by X users show a higher percentage of lost NFTs. However, these numbers refer to unsold packages, not individual collectibles.
Compared to the Transformers Funko Pop NFT collection, which sold out completely during the drop, this Star Wars collection did not fare as impressively. Yet, it certainly outperformed the most recent Funko collection dedicated to Star Trek, where nearly 49% of the NFT supply was burned on March 12th.
Based on the response from the NFT and Funko communities, it appears that the selection of exclusive physical collectibles in this drop may have influenced the results.
Redeemable physical figurines are a key component of Funko's digital collections, allowing dedicated fans to acquire items they might not otherwise obtain. This time around, the physical collectibles vary from the relatively common Royalty figurine of Princess Leia, which features glow-in-the-dark elements and is limited to 3,300 pieces, to the four Legendary figurines showcasing Han Solo, Emperor Palpatine, Darth Vader, and C-3PO, each limited to 3,000 pieces. The most rare among them is an upside-down depiction of frozen Luke Skywalker, limited to just 1,980 pieces.
Despite Funko's effort to create unique physical items, their design faced criticism from collectors who raised concerns about the figurines' size, storage needs, and similarities to existing collectibles.
Many collectors prioritize obtaining physical figurines over NFT trading cards, which are often creative and appealing. However, the popularity of Star Wars and the availability of its characters in numerous collections reduced the excitement around this drop. Additionally, collectors often need to buy multiple NFT packages or pay higher prices on secondary markets to complete their sets, which makes the final price of redeemable collectibles much higher than their true value.
However, despite these challenges, data from Droppp's official website suggests that this collection garnered more attention from the community than many of Funko’s previous NFT drops.
Droppp reported that 6,120 collectors bought Star Wars Funko Pop NFT trading cards, surpassing the 5,120 collectors from the successful Transformers Funko Pop NFT drop. According to Droppp, the collection's total trading volume reached 75,230 USDC at the time of reporting.
Read also: Transformers Funko Pop NFTs Sold Out, Star Trek Funko Pop Drop Coming Soon
At the time of publication, Standard packs were priced at 12.99 USDC, and Premium packs were sold for a minimum of 35.64 USDC.
You have the opportunity to continue collecting NFT trading cards until July 24, 2024. On this date, a snapshot of your inventory will be taken to determine your eligibility for a Redemption Token, which can be used to claim a physical collectible.
"Collecting a Grail, Legendary, or Royalty Set after the snapshot will not earn you a Redemption Token," Funko warns the community, recommending " not opening packs or transferring items for at least one hour before or after the snapshot time to be certain they are included in the snapshot." According to Funko’s policies, items obtained from a pack that is opened after the snapshot will not qualify for a Redemption Token.
Redemption Tokens will remain valid until August 23, 2024, and the shipping of physical collectibles is scheduled for Q4 2024.
