NFT corner: What makes Funko Digital Pop! and Phanta Bear NFTs unique?

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NFT corner: What makes Funko Digital Pop! and Phanta Bear NFTs unique?

 NFT corner: What makes Funko Digital Pop! and Phanta Bear NFTs unique?
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  • NFTs are launched almost on a daily basis, with big names like Coca-Cola also jumping on the bandwagon
  • Funko Digital Pop! provides access to physical collectibles alongside its digital NFTs
  • Phanta Bear NFTs are quite new, said to be designed by streetwear fashion brand PHANTACi

If you haven't been living under a rock, you are probably aware about NFTs and cryptocurrencies. Even though both make use of the decentralised ledger tech, the two asset classes are quite different. The former indicates ownership of a unique item, for example a digital painting, while the latter is often a medium of exchange within an ecosystem, for example ETH in Ethereum.

NFTs, short for non-fungible tokens, have their share of enthusiasts. From celebrities like Snoop Dogg and Madonna to brands like Coca-Cola and Adidas, NFTs have been launched by many big names to connect better with their fans. Now that CryptoPunk and BAYC are already so popular, which are the new and relatively unknown NFTs on the block? Let’s explore.

Funko Digital Pop!

The Funko NFT project has combined NFTs with physical collectibles. Funko Digital Pop! is essentially an NFT, but can also provide access to real tangible collectibles when redeemed.

The project plans to drop its NFTs first, which after 120 days will allow the holders to receive a “redemption token”. This token can be used to grab a physical collectible within a month’s time. Funko has dropped its Kellogg’s and Nickelodeon NFT series in the past, which according to the website are all sold out. Funko drops can be accessed on a relatively new NFT platform Droppp.

Outside the NFT world, Funko had already been selling its physical collectibles, representing characters from Disney, Marvel, and other spaces.

Phanta Bear NFT

Phanta Bear appears to be a typical NFT and metaverse combination. Each Phanta Bear, it is claimed, will be unlike others. The metaverse of the project is titled Ezek.

A collection of 10,000 NFTs, the Phanta Bear project has used the services of Ethereum’s blockchain. Listed on the OpenSea platform, the floor price of each NFT is 0.8 ETH, as of writing. PHANTACi, a clothing brand and creator of Phanta Bear, claims that NFT holders can later have access to physical items like t-shirts and accessories.

Also read: Top 3 metaverse cryptos by market cap: AXS no longer on list

Most popular NFTs

Phanta Bear NFTs are yet to become as popular and expensive as the NFTs of CryptoPunk or BAYC. Artists like Beeple and Pak are by far the most popular names in the NFT world. Beeple’s artworks can invite bids in tens of millions of dollars. The digital artist also partnered with Madonna this year for the latter’s NFT launch. In terms of NFT and metaverse combination, Bored Ape Yacht Club (BAYC) is arguably the most famous.

Selling price of Beeple’s NFTs

Bottom line

Riding the NFT craze, Phanta Bear and Funko Digital Pop! have launched assets in the market. The Phanta Bear collection is on OpenSea, while Funko Digital Pop! uses another NFT platform Droppp. In comparison to Phanta Bear, Funko Digital Pop! is relatively more recognised due to its previous hold in the physical collectible items space.

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