My friends, after what seemed like a neverending wait, we are now less seven days away from the first ever Funko NFT token drop.
In case you’ve been living under a rock for the last four months, December 1st is the date you can start redeeming TMNT physical Pops.
If you have assembled a complete set of all 96 cards from common to epic, you will receive a Freddy Funko token and also the Freddy Funko NFT itself. You will receive as many tokens and NFTs as the number of sets you’ve completed. The other 4 redeemable cards in the set are Leonardo, Casey Jones, shredder and Bebop. For these 4, you will also receive a token for each copy you own.
As a reminder, make sure you keep your complete set in the same wallet. It is not important if it’s in your Wax wallet or your Droppp wallet, but keep all the 96 cards together.
As I write this post, there are 3,326 packs left to be opened. That is A LOT of packs. Initially I didn’t know if packs price was going to go up or down at the end but there are so many left that we are currently observing a little drop. It seems that owners are trying to unload their remaining inventory before it’s too late and are ready to lower the price. Of course most of them probably got the packs at retail price.
The value quickly reached $60 right from the beginning, then retracted a bit, but it held pretty well during the whole period never to really be seen below $40. We can even notice a clear trend up from the end of September until just a few days ago.
We have seen more volatility with the premium packs. They too went very high right at the beginning, but they eventually took a 50% drop from $200 to $100. After that drop it followed the standard pack trend from September to beginning of November. A good two months of strong uptrend.
But what is going to happen now? There are so many packs left. I don’t think the owners will opened all of them. Are we going to see a fire sale or are the owners simply going to keep them at current prices and possible higher having a longer term view in mind.
The account w125m.wam seems to be the one owning the most packs at the moment with a total of 203. An account like 2bfr4.wam is a well known whale in the Funko NFT community. I have the feeling he will not sell any of his packs.
Overall value of NFTs
A last topic I would like to discuss is the overall value of the TMNT NFTs. If we are not yet noticing a major price drop for the packs, it is different for some of the cards.
The mastery set is worth $350 today. It was closer to $450 at its peak. At one point, most of the Epic cards were selling for $18-20 and more. We are very far from that. They are definitely the rarity of cards that suffered to most from the recent dump. You can now buy Epic cards for $5 to $10. Yes $5. Can you imagine?
This is what leads me to believe that after the redemption tokens are dropped, the value will collapse. I think they will eventually go back up with time as people collect NFTs, but they will in my mind absolutely lose most of their value next week. If you want to add some cards in multiple copies to your collection, next Wednesday could be Christmas before Christmas for you.
We don’t observe the same value drop on the Legendaries and Grail. Of course it is different. People have to keep those to get the Pop. But after the tokens drop, I tend to think the NFTs will go down a lot. Maybe not as low as $5, but probably in the $15-$20 range.
Good luck and enjoy your Pops
No matter where you stand, if you are all set and just waiting for your tokens or if you are still actively searching the few last NFTs you need, I wish you end up being able to get all the ones you wanted for your personal collection.
It is going to be a very interesting and educative week. We will not only see how the whole redemption process works, but we will also learn a bit more on what to expect in the future with the Big Boy set and the others.
If you haven’t read my posts where I try to predict the value of TMNT redeemable Pops, visit this section of my site.
Let me know your thoughts in the comment section below.
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