VeVe has announced an exciting new partnership with FigPin, a premium enamel pin producer known for its iconic pop-culture designs, expanding their growing digital collectibles ecosystem into the world of "phygital" pins that was released at New York ComicCon 2024. Hot on the heels of Disney Pinnacle, the expansion of brands and assets continues to bring greater awareness to the entire digital pin and collectibles space, along with another set of awesome release items from this year's NYCC event!
Digital Pins: A Growing Market for Collectors
FigPin's entrance into VeVe’s offerings enables the tens of thousands of VeVe collectors to learn about a variety of pins based on well-loved franchises like Dragon Ball Z, Minecraft, TMNT, and Power Rangers, with more potential IPs on the way.
This expansion does seem to place VeVe in direct competition with Disney Pinnacle, which pioneered & specialize in digital pins from beloved franchises like Disney, Pixar, and Star Wars, however, I again see this as a boon for the entire digital collectibles industry. Competition pushes innovation and selection for collectors, which elevates the space through continued announcements.
Personally, I don’t collect pins (apologies to any pin collector readers!). I do have a few around the house though (never lost my teenage soccer team tourney pins), and while I am incredibly proud of my grandfather’s WWII Canadian Navy Medals, I would certainly not think of them as pins or for sharing. I’m definitely more into Marvel Comics and Star Wars stuff.
As such, I had no idea who FigPin was, as I imagine is the case for many of you, so I went and checked out their website where guess what was found - MARVEL & STAR WARS ASSETS! Many also mimic the digital collectibles from those IP I hold on VeVe, so quickly you can start to see how this chain of assets could connect even more fans.
For fans of physical pins, the intro of digital pins is worth noting. Digital pins are not only easy to acquire, but can be instantly shared across the world, bringing fans and collectors together in ways traditional pins cannot. Whether you're a physical collector looking for something new or a fan wanting to dip your toes into the digital world, this is a trend that is growing fast.
Disney, for instance, began pin trading in 1999 as part of it's Millennium Celebration. Since then, it has grown into a major hobby and revenue source for Disney, having produced over 60,000 different Disney pins in the 16+ years since the formal launch of pin trading! With the success of their digital assets partnership with VeVe, It's NO wonder they decided to dabble in the new realm of digital pin trading with the launch of their DISNEY PINNACLE line, which who knows - maybe someone at KFC bought up a few and thought..."hey, why aren't WE doing this too?!?"
Again, you may never have known FIGPIN was a thing...
BUT, MY HUNCH IS YOU KNOW WHO KENTUCKY FRIED CHICKEN IS!
KFC's FigPin Digital Collectible Collaboration with VeVe Is Worth Watching
VeVe’s first phygital pin drop featured none other than the iconic KFC brand with Colonel Sanders-themed digital pins in limited quantities, where buyers received additional access to VeVe digital logos in coordinated colours. These are also 2024 New York Comic Con exclusives, which from past Comic Con offers have become quite highly sought after, especially by collectors who appreciate serious, quirky, unique or first-ever collectibles from major brands.
Remember, Marvel’s FIRST exclusive digital collectible comics, based on Fantastic Four #13 and Daredevil #1, were released at the 2021 NYCC at a $6.99 price, where the ‘exclusive rare’ variant cover for FF13 currently has a market floor selling at $150 USD - a gain of over 2000% while Daredevil #1's ultra rare variant has just a handful left available in the marketplace with a ~ $100 floor, or a gain of over 1330% of its ComicCon drop price!
KFC may seem an unconventional starting point for digital pins, particularly partnering with a digital collectibles company more known for its huge partnerships with Marvel, Disney, Universal, Pixar and more, but it's a brilliant example of how digital collectibles can expand beyond traditional fandoms, while more big-name brands jump in.
KFC is one of the largest fast-food brands globally, and owning their first-ever digital collectible could hold long-term appeal for both digital pin enthusiasts and KFC fans alike. After all, Coca-Cola has certainly benefitted from several years of digital collectible / NFT continued sales revenue, and despite the fact KFC is exclusive to PEPSI in their physical restaurants, maybe more food brands will be catching on to the fan and revenue benefits these new, fully licensed digital assets offer.
THE KFC BRAND VALUE ITSELF
Yes my friends, again, VeVe has found a way to bring another massive brand to its growing audience of collectors. While there isn't a lot of specific data available on the global market size for KFC collectibles, KFC's significant global brand presence does make sense for collectible consideration:
- In 2022, the KFC brand was valued at over $6.09 billion, up from $5.43 billion in 2021 [4]
- KFC operates in 145 countries with over 24,000 restaurants worldwide [3]
- 20% global fast food industry market share growth, opening its 150th country in 2024 [3]
- The brand's iconic imagery, including Colonel Sanders and the red and white color scheme
- KFC's long history dating back to 1952, providing nostalgic appeal [5]
While it seems collectibles have not been a primary business focus for KFC, they have certainly released some nifty ones. In 2019, KFC partnered with Funko to release limited-edition Colonel Sanders Pop! [2], and again In 2002, releasing a 50th anniversary limited edition Colonel Sanders Wacky Wobbler bobblehead [2].
While KFC collectibles are not as prevalent as some other brands like McDonald's or Coke, the company's strong global presence and iconic branding hint to a niche market for KFC-related digital memorabilia / collectible items. However, without specific market research, it's difficult to quantify the exact size of this market globally.
PIN THIS: The Future of Phygital Collecting Has Already Arrived
As brands continue to innovate by combining physical and digital worlds with "phygital" offerings, it’s clear digital collectibles are becoming increasingly diverse. With FigPin and KFC now entering the fray along with Disney Pinnacle, there’s just so many ways to think about where this could all potentially go. Whether you’re new to digital collecting or a seasoned collector, this latest expansion is an exciting development worth keeping on your radar.
*** Or for CGC Comic Grading Fans out there, how about this exclusive opportunity that was only available for NYCC 2024 Attendees - for those who purchased a physical copy of Frank Miller's Amazing Spider-Man #59 and had it graded by CGC at the show, CGC provided one of just 300 of their exclusive 10.0 VeVe Pins - successfully selling strong on eBay! ***
Info: https://www.cgcgrading.com/en-US/resources/cgc-pin-giveaways or https://blog.veve.me/post/new-york-comic-con-2024
Could these be used for specific member or pin-holder only party or actor signing access? Maybe special offers on KFC items or rewards? Maybe film producers or animators will be required to register the blockchain-verified IP as licensed, for use in their new releases or revenue generation opportunities from licensed product placement. This is all on the table now! Finally, as this market continues to grow at an ever-accelerating pace, it’s only a matter of time before more traditional pin and brand / IP collectors begin to take note of the opportunities available in the digital space.
Thanks for Reading!
Statistical References Used:
[1] https://www.coolest-gadgets.com/kfc-statistics
[2] https://www.prnewswire.com/news-releases/kfc-unveils-limited-edition-colonel-sanders-collectibles-with-funko-300782683.html
[3] https://keeganedwards.com/unlocking-the-success-kfcs-marketing-strategy-revealed/
[4] https://www.statista.com/statistics/1033385/kfc-brand-value-worldwide/
[5] https://www.statista.com/statistics/256793/kfc-restaurants-worldwide-by-geographic-region/
[6] https://hbr.org/2011/11/kfcs-radical-approach-to-china
[7] https://www.linkedin.com/pulse/global-fried-chicken-market-status-2024-2031-forecast-region-naawe
[8] https://www.etsy.com/market/kfc_collectibles
