The team at Mighty Jaxx, a collectibles company based in Singapore, doesn’t take the company name lightly. Ten years after launching, the company is continuing to find new ways to bring art toys to a wider fan base, consistently partnering with new creators and licensing partners.
The Pop Insider chatted with Mighty Jaxx founder Jackson Aw about his experiences over the past decade — ranging from what inspired the company name and why Mighty Jaxx has embraced NFTs to how he convinced beloved pop culture brands to show off their characters’ skeletons in the name of art. Keep scrolling to read the full conversation!
The Pop Insider: I wanted to start more with the physical collectibles side and ask, what would you say makes Mighty Jaxx’s collectibles stand out in the marketplace? And what do you think Mighty Jaxx brings to the table for potential licensing partners?
Jackson Aw: Yeah, so I think from the get-go, Mighty Jaxx has always been about alternative sort of styling to the characters and also working with others to create proprietary collectibles that they have designed. So there’s two sides, right? Because, one, you have to contend on the IP (Intellectual Property) side of things. So it’s very strong. We have to give it a certain style that reflects Mighty Jaxx, but we often take those stylings and utilize the artists that we work with — for example, Jason Freeny, who is the dissection artist — then we apply [that style] to classic characters from, you know, Pixar or DC Comics, Netflix, and so and so forth. But then from the other side of the spectrum will be the unique artist’s take on their own design. And so we turn it into reality by working with them.
I think when we look at it as a whole, we tend to focus a little bit more on artist development in itself. So the portfolio of artists that we do have, we want them to progress into different product categories in the company. And we also segment it into three different areas. The first one is more mass market, $10. Your blind boxes, right? And the center, you know, the middle part of it would be more, $200-500 type of product, which are limited-edition in nature. And the last one is actually the statue category that we have just gotten into with a new brand of ours. That does $800 bucks, onwards. So we want to be a place where everyone could have different tiers of capabilities to purchase art in all its forms. And it’s really from that perspective why Mighty Jaxx is unique.
PI: Can you tell me a little bit more about the artists you partner with and how you form those connections? And what you look for when doing so?
JA: So for us, we do have a team of about 10 that just focuses on palette and sculpting. So they don’t necessarily have to be the tier one artists that we already work with, but they can be emerging as well. We tend to try to look at art that would be able to continue a story. We have quite a portion of them that actually focus on continuing a particular style or a narrative that they have built out in their work. And so that helps us do that. It helps us to help them tell their story in a much longer-term way. And when they have done that, we tend to partner with our IP licenses, which brings their art into more mainstream awareness because of the characters that they will work with.
And later on, we do more premium sort of products at a higher price point using different materials and so on. Whenever we talk about, okay, this is a new artist … we look at them and consider the narrative. Then, after that, we think about, what are the opportunities we have on hand so that we are able to help the artists develop their craft as well.
PI: I actually wanted to talk about the Dissectibles, specifically, because I think it’s such an interesting line. I was curious how that series came to be, and why you think it resonates with fans. I’m also curious if any of your licensing partners were ever hesitant to, you know, like, show the My Little Ponies’ organs. Was there ever any pushback there?
JA: Yeah, that’s a great story to tell, actually. With Jason, who’s also based in New York, his work has really been about dissection. But the first product that we worked on with him was not dissection. It was something called a Skull Bomb, it’s a bomb which looks like a skull. And that is what we started from. But building that relationship we had good conversations, and he became a good friend, and we wanted to do more. And so when we looked at the work that he was doing, we decided to take that and bring it to the brand partners that we do have. So at that point in time, it was DC Comics. That was the only one; we only had Warner Bros., and so that line was launched in 2016 or so. And it took off. And we started using the same Jason style on multiple different types of IPs, like Spongebob and My Little Pony, of course, with Hasbro.
Now, through this journey, I think everyone who tries to do something new and alternative would face rejection. I think that is a given that you should expect. But also that the person that you work with at the company, how convinced they are and how supportive they are of the idea — Now, this is not necessarily about the dollar value that they could take from it, but rather the style, the aesthetic, and the value proposition of what the style would mean to the brand, right? It’s something unique in their product category. So when we started doing this, at a point in time, I think a lot of major licenses initially declined to do so simply because of the association of skeletons and stuff. But then we got into a space where, you know, you have it in Hot Topic and it becomes a thing that is quite commercially successful. And so they sort of loosen up a little bit, and they allow us to do it. And when we show results, then the rest is history.
PI: I see how it fits so nicely in that Hot Topic niche. I mean, our team was all in for the Care Bears ones when those launched. Now, I know — correct me if I’m wrong — you’re at 10 years this year. What are some of the biggest changes that you’ve seen over that decade in terms of the marketplace, what your company does, and/or what you’re seeing in demand from consumers?
JA: I think, you know, when we started doing this — Of course, in between, there’s been a few down and ups on things as per normal — But I think that it was sort of a downward trend for designer collectibles sometime in 2012. 2014, also. And then it came back up again, which is what it’s enjoying right now. I think, being in Asia — the company’s in Singapore. So we are able to see that, you know, at the very beginning you do have the U.S. and perhaps Hong Kong and Japan, which are more mature in that [designer collectibles] market. And later, in 2018 and 2019, we saw China itself actually coming into their own. But the demographic is very different. In China, 70-80% of the consumers are female, and they generally spend, you know, 10 bucks, 20 bucks on the blind box products, whereas the rest of the world it’s really 70% male … So there’s quite a big contrast there.
But what is quite interesting is that when you become a basic collector and start collecting smaller things, there is a natural need for you to progress into, you know, the slippery slope down to collecting more. We all know it, we all suffer from it. And so it’s interesting to note that that female demographic is now going into a more mature stage of collecting, at a higher price point and more intricate items as well. So I thought the change in demographic was quite an interesting one.
PI: I was also curious, what is the history behind the name Mighty Jaxx? Where did that come from?
JA: Well, Jaxx is from my name. Jackson, Jaxx. I didn’t want to do the “xx,” but, you know, my friend just thought it was cool. And I was 21, so I didn’t think too much about it. I just said, okay, if you think it’s cool then I guess it’s fine. But Mighty is a term of empowerment. You know, like, we want us to be mighty. We want people who may have certain negative experiences to still talk about us in a mighty term. And hopefully we’re able to change their mind. So it’s really on the more empowerment side of things.
PI: So to switch over a bit to the digital, side of things, when did you first start hearing about NFTs? And how did you decide that the digital collectibles realm was something that Mighty Jaxx should get involved in?
JA: In 2018, we were introduced to blockchain. But blockchain at that point in time was used for pretty boring stuff, like logistical authentication value. … And so we designed a chip, an NFC chip, that goes into the product so that it would allow the user to authenticate it and register the ownership of the product on the chip. And so that creates provenance, which is very important in collectibles or artworks, right? So when the NFT part of things hit mainstream awareness, I think sometime early last year, we had already looked at our work process end to end. We design the concept; we do the digital part of it, the visualization; and then we go on to the physical part. So we looked at the digital visuals that we do have, and that’s something that is, you know, basically what is representing NFTs at that moment of time. And so we took our proprietary IP, and we did trading cards with an NFT. And it sold out 6,000 units. It was sold out in a couple of seconds. That was great. But something was missing. Like, it doesn’t have any use to it. It’s just a digital blind box if you will. And so we began to design utilities for it. So at Complex Con when we released our product called Eve, from Adam and Eve, what happened is that when you buy the NFT, then you could purchase the physical product exclusively for you. And when that happened, the value of the NFT actually shot up like 25 times on the marketplace, which makes it rather simple for the digital natives to purchase that physical product. Because the physical product is like 20 bucks, 100 bucks, right? So it’s easy for them to cross over. And so we see about 60% conversion from digital to physical, which was quite an interesting observation, actually. And it’s quite nascent in itself as well.
PI: You already touched on this a bit, but can you elaborate on why you think that having a physical component is a more successful approach to NFTs, or why you think that adds extra value?
JA: I think that the reality of things is that we do live in the real world. It’s not quite the Matrix yet. Not quite yet. But if that’s the case, then any assets that you have should provide certain privileges or benefits to you in your real life. And so the thing is, when when NFT companies or NFT-based teams create their assets, they’re looking at it from just a pure digital perspective. And that’s fine for a start. But then they start promising certain things on the roadmap. Oh, they’re going to do experiences they’re going to do, you know, products, or crossovers and things like that. But the truth is, those teams do not have the capability to integrate with the real-world partners. It’s quite different. … So they need to rely on partners like us to bring it into real life. And so that’s why I think it, first of all, is a natural progression for digital companies wanting to do that. But I also think the consumer demands that you sort of reach the two components together.
The reality of things is that we do live in the real world. It’s not quite the Matrix yet.
– Jackson Aw, Mighty Jaxx
PI: And do you think that the digital component and NFTs are a long-term shift in collectibles and the industry? Or do you think it’s more of a trend?
JA: I don’t want to speak for all of us collectors, but for myself — as a collector for many, many years, who spend tons of money on it — I want to wake up with something that’s physical, and that I could touch and perhaps show people when they do come by the house. I want something tangible, that’s the thing, you know. And if we look at the gaming industry, 15% or 20% of the revenue driver actually comes from physical products. It’s because gamers are true fans, and so they want to collect and they want to keep, and it reminds them of a happiness that they have. And so it makes sense, it stands to reason that physical collectibles will always be there. The question is, how do you integrate owning digital assets and physical assets? And owning both of them. What kind of value does it give you as a fan? And I think if we solve that problem, then they could coexist and be blended a lot more effectively then, you know, what it is right now, which is totally a different segment.
PI: Yeah, I would agree. So, to talk licensing a bit more, what, to you has been the most exciting licensing partner so far for Mighty Jaxx?
JA: Wow. The thing is, I have a short attention span, as you can imagine from the speed that I’m talking. But the licenses and projects that I’m most interested in, it’s always the upcoming ones. And that’s because it’s a deal that I’ve fought for. And that’s a deal that I love, right? Everything else takes 6-9 months to make happen. So by the end of it, you’re sort of like, “Okay,” like you’re immune to it. So we worked with Netflix recently for Stranger Things. So that was very, very exciting for us.
We have a few upcoming ones from the music side of things, which we’re really excited about as well. Because we tend to look at fans from different fandoms. You know, we look at music, entertainment, sports — To us, it’s the same thing. The difference is the kind of content that each of the demographics would want, and so we set out to answer that question. So that Netflix line is one of the most exciting things that we have this year.
PI: Yeah. I love that — Yours is one of the more visually unique versions of Vecna that I have seen. We were joking that he kind of looks like a disgruntled teen. Like, “Gosh, mom, leave me alone” vibes.
JA: I can share with you that it’s actually part of a larger set as well. So we do have Eleven with — Well, we call them all pets. So it’s like the Demogorgon as pets. It’s quite cute.
PI: I was gonna ask if there was more to come from the Netflix partnership, so that’s great.
JA: Yes, and a lot more than products as well.
PI: Oh, that’s cryptic. But I’m interested. Well, finally, what is the license that you would love to partner with? What’s kind of your, like, white whale?
JA: Oh, without a doubt Pokemon. For sure. My life is complete after that. Once I have the Pikachu as big as me, then it’s done. I can close the company.
Collectors can find the latest from Mighty Jaxx at the company’s official website. You can also click here to browse the company’s full artist roster.
Editor’s note: This review has been edited and condensed for clarity.
