Yesterday, the popular toy manufacturer Funko launched the second wave of its successful My Little Pony NFT collection, which had its first drop on June 28, 2022, and all of its collectibles were completely sold out. Unfortunately for Funko, this success was not repeated by Series 2, and 39.4% of the NFTs were burnt.
DisTrackers, an account focused on Funko and other collectibles, reposted a message from the Droppp representative Nicci, who shared the drop statistics.
"Greetings, the unsold packs from the My Little Pony x Funko Series 2 Digital Pop! Sale have been burned (4505 Standard Packs, 3018 Premium Packs)," Nicci shared the news with the Funko community. Considering the different number of NFTs in Standard packs and Premium packs, it means that altogether, 73,831 collectibles were burnt."
Read also: Star Trek Funko NFT Drop Doesn’t Make It - Almost 50% Burnt
This time, Funko possibly wanted to replicate the success of its small April Fools’ Day drop, which enjoyed a complete sellout and also released a rather modest number of packages: 8,500 Standard Packs and 8,500 Premium Packs. However, this decision did not save the My Little Pony Funko NFTs from being burnt.
According to the Droppp website, only about 2,180 collectors participated in this drop, whereas the total trading volume amounted to 16,560 USDC. For comparison, the April Fools’ Funko Pop NFT collection had 7,000 Standard packages and 8,000 Premium packages. Droppp reports 3,500 collectors participating in the NFT sales as well as a total trading volume of nearly 83,220 USDC.
As of now, the prices for My Little Pony Funko NFT packages have gone up slightly. A Standard pack is now trading for at least 11 USDC, up from its initial price of $9.99, and a Premium pack is valued at least at 32.75 USDC.
The My Little Pony Funko NFT Series 2 has sparked mixed reactions from the community. While collectors often buy NFTs from franchises like Star Wars or Harry Potter even without a strong affinity for them, it appears that for My Little Pony, interest mainly came from fans of the franchise itself.
Those fans appeared very excited about the physical figurines designed exclusively for the NFT drop, especially the Grail Daybreaker My Little Pony toy, which is touted as the rarest Funko Pop collectible in Series 2. Fans of My Little Pony also appreciated the addition of the King Sombra and Legendary Applejack figurines, as well as the Legendary Princess Twilight Sparkle toy, to the set of redeemable physical figurines.
Unfortunately, the interest from the My Little Pony fans was not sufficient for a complete sellout of the collection. At the same time, many collectors who did want to participate in the drop were not able to do so because the drop was organized on a Tuesday.
Now, collectors have time until August 14 to collect a Grail, Legendary, or Royalty Set, which will qualify them for a physical counterpart.
"A snapshot of your inventory will occur on Aug 14th, 2024, at 11 AM PT," Funko explains, adding that "For every Grail, Legendary, or Royalty Set in your inventory, you’ll receive a Redemption Token to redeem within 30 days for the physical counterpart."
Read also: Wave 2 of Favorite Collections: WB Horror Movies and My Little Pony Funko Pop NFTs
Recently, Funko has invested its resources into releasing Series 2 of many of its collections that sold out in the past. However, not all of them turned out to be equally successful. For instance, the Transformers Funko Pop NFT Series 2 was completely sold out, while nearly 50% of the second wave of Star Trek NFTs were burnt.
Now, Funko is preparing for the second edition of its WB Horror NFT collection, which was initially released during the Halloween season of 2022. Back then, the collection featuring exclusive physical collectibles of iconic horror characters such as Malthus, The Nun, Father Karras, The Crooked Man, and Pennywise with spider legs was a real hit.
