This is such a big news that I can’t not talk about it.
Today, Funko revealed their own NFT marketplace and it is called Droppp. No, it is not a mistake, with three Ps.
It is not completely a shocking news as it was no secret that they were working on an alternative to AtomicHub to have their own platform to handle their drops and control the secondary market of their NFTs.
When the news started to spread on the Discord group, it was chaos. People were mad, people were complaining about nothing and everything. I must be honest, I even was among the unhappy with this new structure, but it was mostly because it has a huge impact on my NFT Tracker. I worked so hard on that tool and suddenly it is all jeopardized.
So even if I don’t have all the information yet, I will try to share as much information as I can.
New Discord group
I don’t know if you were on Discord at the moment, but if you are not, you have to sign up. It is a must to talk with the Funko NFT community, the Droppp and TokenHead staff. That is the place where you will get the accurate answers to all your question talking directly to the people closely involved in the projects. So click here and join the Droppp Discord group.
If you were collecting Funko NFT already, you currently have a Wax Wallet and you are using AtomicHub. What will change now is that in addition to AtomicHub, you will now trade on Droppp also if you choose to.
They both are marketplaces where you can buy, sell your NFTs and manage your collection. This will not change. AtomicHub is going nowhere and there will still be Funko NFTs on that platform. But Droppp will definitely quickly become the go to place for Funko NFT and Droppp is also on the WAX blockchain so you will still be able to see your NFT in your Wax Wallet.
An important thing to know is that the marketplace Droppp is not active at the moment. it will come in the near future. For now, you will only be able to buy packs during the initial drops or hold the NFTs you currently own on AtomicHub.
So take action now and go sign up on Droppp. Also, they have a funny little feature. You don’t have to but if you prefer not having a random Droppp address, you can pay $5 and create a customized address. So if your have a brand or any name you like using, you could have it as your Droppp address.
I wanted the custom address “PopInStock” but its 10 characters long and they only allow 9. So I will keep the free random name like I was assigned on AtomicHub. It is not really important anyway.
What happens with my current NFTs?
If you have NFTs on AtomicHub at the moment, do you have to transfer them to Droppp immediately? No you don’t. It will probably be ideal to do so in the future, but at the moment I advice you not to. Keep them on AtomicHub until Droppp marketplace officially launches. Because until then, all your secondary transactions will continue to be on AtomicHub.
So no worries, you won’t lose any of your NFTs. They are safely recorded on the blockchain.
What happens with the redeemable Digital Pops?
This is an important topic to clarify.
If your NFTs are on AtomicHub, the redemption token(s) will be dropped on AtomicHub. If your NFTs are on Droppp, the redemption token(s) will be dropped on Droppp. That is pretty simple so far.
DO NOT SPLIT YOUR MASTERY SET !!
If you have all NFTs for the mastery set. Make sure you don’t have some on Droppp and the others on AtomicHub. Have your complete set in one wallet or the other, but not split between the two or your set will not be considered complete and you will not receive a redemption token nor the Mastery NFT.
The other thing that is important to know it that the redemption process will not happen on AtomicHub. It will be on Droppp only.
What does it mean exactly? It means that to be able to redeem your physical Pops, you will have to transfer the redemption token(s) to Droppp first.
So let’s say you have on AtomicHub a Legendary Bebop and the Mastery Set for TMNT. On December 1st, you will receive on AtomicHub a redemption token for Bebop, a redemption token for the Mastery and your Mastery NFT. Then if you want to redeem the Bebop and the Freddy Funko (Mastery), you will first have to transfer the 2 redemption tokens from Atomic to Droppp. And then on Droppp you will be able to redeem the Pops.
If your Bebop NFT was already on Droppp, then your redemption token will appear on Droppp so you won’t have to transfer anything and you will be ready to redeem. That is why it will quickly be more advantageous to simply have all your Funko NFTs on Droppp and leave AtomicHub.
It might sound complicated, but it is not in reality. It is quite simply. It is just new and we are always a bit defensive with changes. But I think it is cool. All our Funko NFTs will be centralized in a Funko focused environment making it more intuitive. We will get used to it and very soon it will be as if it was always like that. Actually from now, new collectors will probably never experience AtomicHub and only subscribe to Droppp. So for them there will be no transition phase to deal with.
That is pretty much all there is to say at this point. So don’t be scared, don’t be afraid and no need to be mad. Changes like this one will be positive for our whole collecting experience. Simply sign up on Droppp, join the Discord group and stay aware of coming news.
I tried to give information based on what I know and understand of the new site. If you feel I missed valuable informations or something is not completely accurate, make sure to comment below.
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