Shares of Funko surged 19% in early trading Thursday after the pop culture collectible maker said it acquired a majority stake in TokenWave, putting it into the NFT market.
TokenWave is behind the TokenHead app and website, which tracks holdings in nonfungible tokens.
Financial terms of the deal weren’t disclosed.
Funko, known for its dolls with oversized heads, said it plans to launch its own NFT offerings in June. A new one will be introduced each week, starting at $9.99, it said.