Funko, Inc., a titan in the world of collectibles, has unveiled a groundbreaking update to its popular Funko app. This enhancement, fueled by a collaboration with eBay, introduces a sophisticated collection valuation feature, leveraging real-time eBay marketplace data. This integration marks a significant leap forward in how collectors and enthusiasts can gauge the value of their cherished collections.
Funko x eBay – A Partnership That Benefits Collectors
The journey to this innovative update began in 2022 when Funko and eBay entered a commercial agreement, establishing eBay as the preferred secondary marketplace for the collectible giant’s products. This partnership has already borne fruit, introducing features like a direct “List it on eBay” button within their app and exclusive Funko product drops on eBay’s platform. The latest update is a testament to the ongoing commitment of both companies to enhance the collecting experience.
Slated for release in the fourth quarter of 2023, the updated direct-to-consumer (DTC) catalog app will offer valuation insights based on the average, recent sales price of items on eBay. With over one million active users and more than 100 million wishlisted items, the app is a central hub for collectors worldwide. This update promises to add a new layer of depth to the app’s functionality.
Johanna Gepford, Funko’s SVP of Revenue, emphasized the importance of this feature: “With a million users managing their collections through our app, providing accurate, data-driven valuations is crucial. Our partnership with eBay enhances our ability to offer real-time market insights, enriching the collecting experience for our community.”
eBay: A Hub for Collectibles and Innovation
eBay’s role as a global leader in the collectibles market makes it an ideal partner for this venture. “Funko” searches on eBay averaged around 13,000 per hour globally in 2022, highlighting the brand’s immense popularity and collectability. Gene Cook, Global VP of Collectibles at eBay, shared his enthusiasm: “As a top destination for collectibles, we’re committed to innovating and enhancing customer experiences. Working with Funko allows us to introduce exciting features and empower collectors with informed decision-making tools.”
This collaboration between Funko and eBay is more than just a technological advancement; it’s a step into a new era of collectible management. By harnessing the power of real-time data, collectors can now enjoy an enriched, informed collecting journey.
How do you think real-time valuation data will change your approach to collecting Funko products? Are there specific features or tools you’re hoping to see in future updates of the Funko app? And importantly, how do you envision the future of collectible trading evolving with these technological advancements? Share your thoughts and collections with us on social media!