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Funko and bad news go together like an artist and a blank canvas. They forever paint creative ways to shove a shit sandwich down collectors' throats.
Yet Funko is even holding the bread for the latest headline to swallow: The shutdown of Mondo's movie poster business.
The news comes less than a year after acquiring Mondo, the high-end collectible brand, best known for its limited-edition, screen-printed movie posters. They have built a strong following and reputation over the years, collaborating with notable artists, such as Olly Moss, Rich Kelly, David Lynch and more.
The latest move has seen Mondo co-founders Rob Jones and Mitch Putnam laid off, alongside senior creative director Eric Garza. The news hasn't sat well with artists who are keen to support what the trio go on to do next.
It feels like a missed opportunity, as Mondo posters, with their exceptional artwork, seemed perfect for the Funko NFT treatment. The NFT medium would work well as an extended canvas, while physical limited-edition posters could be offered as redeemable rewards.
Pulling the 'grail' Mondo NFT from a pack and receiving a physical signed artist proof to accompany your digital artwork seemed like a natural fit.
However, Funko appears unsure of how to handle its $14 million acquisition. For now, at least, Mondo's other collectible offerings, such as vinyl records and toys, will continue.
As for Funko, the aftermath of the pandemic boom, oversupply issues, plunging stock prices, $30m landfill write-off, and company restructuring, have been weakening the brand.
If any poster is still on the walls of Funko HQ, you can only imagine it's this one: