We are currently experiencing something that has never been seen before in the short Funko NFT history.
Only 24 hours after the drop, over 80% of packs have been opened. If you are not familiar with Funko NFT, it usually takes at least a month to reach that kind of level. It shows the extreme popularity of this set and it mainly shows the unprecedent popularity of Freddy Funko.
In my previous blog post I had expressed my optimism toward this new release, but I must admit I never expected such enthusiasm from the Funko community. Halloween is always bringing a lot of attention and Freddy Funko has always been a fan’s favorite. Put them both together, mixed with the fast surge of NFT acceptance by the Funko collectors and it creates an explosive potion.
The Grail : Freddy Funko as Devil
The Leonardo grail in the TMNT set was the most valuable item for a long time. Iron Maiden grail is also very popular, but I think we might see a change of leader in pole position with the Freddy Funko as Devil. On Atomic Hub there are currently only 24 available and only 9 are below the $600 price point.
If it continues like that, this Freddy will become to most valuable NFT available in the Funko world. It is actually an amazing Pop. The vibrant red colored suit and a young Freddy has everything to please the collectors. I was lucky enough to pull one from the six Standard packs I opened. I am very happy to add this one to my collection.
The Royalty set : Freddy Funko as Vampire
The grail is always a key piece of a set, it is expected to see that NFT sold at a high price right from the beginning. What is a bit surprising this time is to see how quickly the value of the Royalty set reached higher levels too. When you collect all Common, Uncommon, Rare and Epic cards, you earn the right to redeem the Royalty collection Pop. Here we are talking about the Freddy Funko as Vampire. In all honesty, I am not a super fan of this one. It is my least favorite of all four redeemable items, but it seems the community thinks otherwise.
Normally you can buy NFTs individually to complete a set for much less than $100 for at least a couple of weeks after a drop and slowly over time as supply dries up, the prices are starting to climb. This set being a bit larger, with more Epics, we could think instead of paying $60-70 for the Royalty set, we’d have to pay around $100. Nope! Not at all. We can forget normal behavior here again. This thing skyrocketed right from the get go. It now costs over $240 to complete a set from scratch. That is mostly caused by the high value of the Epic cards. Some of them found a spot over $30 already.
After reading comments and watching videos on YouTube about this set, I realized that a lot of people love this one. So it might soon reach $300 and more. Glad I was able to complete 7 sets before it was too late.
The Legendary items are no different
There are no exceptions in this set. Everything is popular and everything attracts collectors. In the TMNT set, Bebop and Shredder always had a high value. Well we are in the same boat here. Floating between $180 and $215 the Mummy Soda and Skeleton Freddy also very quickly reached a high valuation.
Sodas don’t usually fetch a price as high as a Pop. We’ve seen a few Sodas sold on eBay in the neighborhood of $200 but they are more limited. Usually under 1,000 pieces which is not the case here with Mummy. Are we going to see the new most valuable soda in existence? I bet we will.
Collectors have been very fortunate on the secondary market with the price of packs during the last three drops. Big Boy, Iron Maiden and Fantastik Plastik have all seen their packs reselling for very close to retail prices for a long time. Halloween is more of an horror story this week.
Standard packs are going for $36 and Premium packs for $130. So we are at a 4x price point. It reminds us of what it was for the first ever drop, the Teenage Mutant Ninja Turtles. But this is not the first drop, we should not expect such a situation so quickly. Is it FOMO or is this set really breaking all rules and popularity is off the chart?
The set is definitely bringing a lot of new collectors and a lot of activity. Whate drove the prices so high was not caused by a few whales buying everything. It is a community “effort”. But why do we see such high prices? Is it really that the demand is that strong? Is it because people are not yet familiar with the recent environment of Droppp wallet and Wax wallet and they don’t know how to transfer their NFTs to AtomicHub to put them for sale which generates a lack of supply, thus a price increase? I don’t know. Maybe its just love for the set!
What do you think? Let me know your thoughts on this new release in the comment section below.
Let me know your thoughts in the comment section below.
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