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Funko shares leap after acquisition launches the toy firm into the NFT market 


Funko Inc.
FNKO,
+2.55%

shares jumped 13% in Thursday premarket buying and selling after the toy and collectible firm acquired a majority possession stake in TokenWave, the corporate behind the TokenHead app and web site that tracks non-fungible token (NFT) holdings. TokenHead is obtainable on Android and iOS gadgets, at the moment shows greater than 10 million NFTs and has greater than 100,000 visits per day. Funko, identified for its Pop dolls with outsized heads, will launch its NFT choices in June, with a brand new one launched every week at a beginning value of $9.99. “Our technique on this area is obvious – carry the value-added NFT alternative to our licensing companions to leverage our broad vary of current popular culture content material throughout tv, films, sports activities, music, anime, video video games and comedian books,” stated Brian Mariotti, Funko’s chief govt in a press release. Funko inventory has skyrocketed 89.6% over the previous three months, and is up almost 414% during the last 12 months. The S&P 500 index
SPX,
+0.36%

has gained 60.8% during the last 12 months.



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