Andrew Perlmutter, CEO at Funko, talks about sustainability and NFTs in the Toy Book’s annual State of the Industry Q&A.
The Toy Book: Funko recently joined the How2Recycle program. Why is it important to implement sustainability initiatives for your products and packaging? What is Funko currently doing to support the program and ensure it is minimizing its carbon footprint?
Andrew Perlmutter: We are very excited about continuing to invest in learning how we can make our products more eco-friendly. For fans that take Funko figures out of the box, we’ve entered into a partnership with How2Recycle to address the recyclability of our packaging. Fans can now see the How2Recycle label on Pop! vinyl product, which informs them that the outer cardboard box can be recycled curbside in most communities across the U.S. We’ll have more to share on our ongoing environmental, social, and governance efforts in the coming months.
TB: Funko made its Macy’s Thanksgiving Day debut last year with the Star Wars Pop! Grogu balloon. How does this take your relationship with your fans to the next level? Why is it so important to connect with your fans in this way?
AP: We were ecstatic to participate in the Macy’s Thanksgiving Day Parade! It was a great collaboration between Macy’s, Lucasfilm, and Funko, and the balloon looked great floating down New York City. Participating on such a giant stage underscores the popularity of Funko’s lifestyle product lines. Our marketing and PR teams will continue pursuing big-stage brand opportunities like the Macy’s Thanksgiving Day Parade. Our fans are at the core of what we do, and they serve as the North Star for what’s trending in pop culture and if we decide to undertake new activations.
TB: How do you think the popularity of NFTs will impact the toy industry?
AP: For Funko, NFTs are a natural and obvious extension. Our products are highly collectible, and with the introduction of blockchain technology, we’ve been able to bring that excitement of collecting your favorite fandoms into the digital space. Importantly, we’ve done that while maintaining the fun and accessibility that has made our physical products so popular.
This article was originally published in the February 2022 edition of the Toy Book. Click here to read the full issue!
