The State of Collectibles: Target’s Geekout Finale, Big Bad Workshop’s Crowdfunding Gamble, and McFarlane’s Bold Moves
The action figure industry is currently navigating a fascinating period of transition and experimentation. As we move deeper into 2026, major players like Hasbro, Mattel, McFarlane Toys, and emerging boutique manufacturers are redefining how collectors discover, purchase, and interact with their favorite characters. From the conclusion of Target’s highly anticipated Fall Geekout event to innovative crowdfunding models that blend pre-orders with community funding, the landscape is shifting beneath our feet. This week has been particularly pivotal, offering a microcosm of these broader trends through significant announcements from McFarlane Toys, Big Bad Workshop, Mezco, NECA, and Valaverse.
Target Fall Geekout Concludes Without NECA
Target’s Fall Geekout event for 2026 has officially wrapped up, marking the end of another seasonal retail phenomenon that has become a cornerstone for toy collectors. However, this year’s iteration left a noticeable void that veteran enthusiasts were quick to identify. For what feels like an eternity in collector years, NECA has been absent from the Geekout lineup. In previous seasons, NECA was often the headliner, driving traffic and excitement with exclusive horror and sci-fi releases. Their absence this year suggests a potential cooling in the relationship between the retailer and the manufacturer, or perhaps a strategic pivot by NECA toward other distribution channels.
Despite the lack of NECA presence, McFarlane Toys served as the anchor for the final drop of the season. The release included several high-profile figures that have already begun appearing on shelves ahead of the official October 16th street date. Among the most discussed releases was the Plastic Man Elite Edition figure. While some collectors view this character as a niche addition to the DC Multiverse line, others see it as a necessary expansion of the roster. The figure remains available for pre-order at select retailers, though stock levels are fluctuating rapidly as physical units hit store floors.
📊 Key Releases from Target Fall Geekout Finale
The Green Lantern Corps wave has proven surprisingly resilient in sales. Initially met with skepticism due to the reuse of body molds across multiple characters, the hype surrounding the new Green Lantern television series has provided a significant tailwind. Collectors who may have previously passed on these figures are now rounding out their collections in anticipation of the show’s cultural impact. It serves as a reminder that multimedia synergy remains one of the most powerful drivers in the collectibles market.
Big Bad Workshop Reinvents the Pre-Order Model
Perhaps the most innovative development this week comes from Big Bad Workshop, a subsidiary of Big Bad Toy Store. They have launched a new initiative called the "Big Bad Launchpad," which effectively merges traditional pre-orders with Kickstarter-style crowdfunding mechanics. This hybrid model addresses one of the perennial challenges in boutique toy manufacturing: inventory risk. By setting funding thresholds for specific figures, the company can gauge genuine demand before committing to full production runs.
The inaugural wave focuses on The Tick property, featuring characters that have long been requested by fans of the cult classic animated series and comics. Arthur, the moth-like sidekick, has already surpassed his funding goal, guaranteeing his production. He is joined by Chairface Chippendale and Barry Hubris, both of whom have also secured their spots in the manufacturing queue. The pricing for these 6-inch scale figures sits at approximately $40, positioning them in the premium segment of the market.
What makes this model particularly interesting for consumers is the unlockable tier system. If the campaign reaches 125% funding, a "Multiple Santa" villain figure will be added to the lineup. At 150%, an even more ambitious "Terror and Man-Eating Cow" two-pack becomes available. This gamification of the purchasing process not only drives sales but also creates a sense of communal achievement among backers. It transforms a simple transaction into a collaborative effort to bring obscure characters to life.
🔓 Unlockable Tiers Breakdown
- Base Tier (Funded): Arthur, Chairface Chippendale, Barry Hubris
- 125% Funding Goal: Multiple Santa ($39.99) - Features brass knuckles labeled "Naughty" and "Nice," a pump shotgun, and dynamite accessories.
- 150% Funding Goal: Terror & Man-Eating Cow ($65.00) - A massive two-pack featuring the evil genius Terror with a coffee mug accessory and a standalone man-eating cow figure.
Collectors should note that these figures are slated for arrival in the third quarter of 2027. The extended timeline allows for rigorous quality control and gives buyers ample time to adjust their budgets. However, it also requires a leap of faith in the manufacturer’s ability to deliver on promises made nearly a year in advance. For those who have followed Big Bad Workshop’s previous outputs, such as their Operation Monster Force line, the track record suggests this confidence is well-placed.
Mezco’s Gray Hulk and the Nostalgia Factor
Mezco Toyz continues to push the boundaries of stylized collectibility with their latest offering: the Gray Hulk. Released as part of Rumble Con 2026, this figure taps into deep-cut Marvel history, referencing the original gray coloration of the Hulk from his 1962 debut. The decision to produce this variant rather than another standard green Hulk speaks to Mezco’s understanding of their core demographic. These are collectors who value historical accuracy and aesthetic variety over mass-market appeal.
The figure sold out almost immediately upon hitting the Mezco website, a testament to the brand’s loyal following. While the primary sales channel has closed, joining the waitlist remains a viable strategy for hopeful buyers. Cancellations and restocks are common occurrences in the direct-to-consumer toy space, and persistence often pays off. Additionally, there is always the possibility that secondary retailers will secure allocation for future waves.
Visually, the Gray Hulk leans heavily into Frankenstein-inspired horror aesthetics. The sculpt emphasizes bone structure and muscle striation in a way that feels more monstrous than heroic. This design choice aligns perfectly with the character’s origins as a tragic creature of science gone wrong. Accessories include multiple head sculpts capturing different emotional states, interchangeable hands, and environmental props like a steel beam and lamp post. The inclusion of a display plaque with retro typography further cements the figure’s status as a tribute to comic book history.
⚔️ McFarlane Toys Challenges Hasbro on Multiple Fronts
McFarlane Toys is making aggressive moves that suggest they are no longer content to occupy a niche corner of the market. Two recent announcements highlight this ambition. First, the company revealed a 7-inch scale Lara Croft figure that directly competes with Hasbro’s 6-inch G.I. Joe Classified Series version. By opting for a larger scale, McFarlane is signaling a commitment to premium detailing and presence on the shelf.
The announcement was not without controversy. Early digital renders showed knees that appeared non-articulated, sparking immediate backlash on social media. McFarlane’s team responded swiftly, clarifying that the images were preliminary and that the final product would indeed feature full knee articulation. This level of engagement with the community is crucial in maintaining trust, especially when releasing figures based on beloved IP where scrutiny is intense.
Simultaneously, McFarlane is expanding its gaming partnerships with a Call of Duty Modern Warfare Ghost Elite Edition figure. Priced at $49.99, this release includes a redemption code for in-game content, bridging the gap between physical and digital play. The figure features soft goods cloaks and an impressive array of weaponry, catering to fans who want their shelf displays to reflect the tactical realism of the video game franchise. With pre-orders already live at major retailers, this release demonstrates McFarlane’s ability to execute timely tie-ins with active entertainment properties.
☠️ Valaverse Expands the Action Force Universe
Bobby Valenzuela’s Valaverse brand continues to grow its ecosystem of original characters and modular accessories. New reveals include an Armory Gear Rack system designed to organize tactical equipment for dioramas. Priced at just $11.99, this accessory set offers an affordable entry point for collectors looking to enhance their display setups without committing to full figures. The inclusion of removable skull heads adds a customizable element that appeals to fans of grimdark aesthetics.
More significantly, Valaverse announced reissues of popular characters like Blackbeard and Vein, featuring updated deco and weathering. The Blackbeard reissue introduces digital camo pants and subtle facial repaints, distinguishing it from the original release. Perhaps most exciting for long-term collectors is the introduction of a Head Pack containing alternate sculpts for The Black, including glow-in-the-dark and translucent variants. This modularity encourages repeat purchases and allows collectors to create unique versions of their favorite characters.
A limited edition chase variant of The Black with red glow-in-the-dark tentacles and an all-black outfit is also planned, with only 100 units to be produced. Such scarcity tactics are standard in the boutique toy world, but when executed with genuine artistic variation rather than simple recolors, they add tangible value to the collecting experience.
🔮 Looking Ahead: What This Means for Collectors
The current state of the action figure industry is defined by diversification. We are seeing a move away from monolithic licensing deals toward fragmented, specialized offerings that cater to specific niches. Target’s Geekout may be evolving, but it remains a vital discovery platform. Boutique manufacturers like Big Bad Workshop and Valaverse are proving that direct-to-consumer models can sustain profitable businesses while fostering deep community engagement. Meanwhile, legacy players like McFarlane and Mezco are refining their craft and challenging each other to raise the bar on quality and innovation.
For collectors, this environment is both exhilarating and demanding. The sheer volume of high-quality releases means that budget management and selective focus are more important than ever. It is no longer possible to buy everything; instead, we must curate our collections with intention. Whether you are backing a crowdfunding campaign for a moth-man sidekick, hunting for a gray-skinned gamma mutate, or debating between two competing Lara Croft figures, the passion that drives this hobby remains as vibrant as ever.
As we look toward the remainder of 2026 and beyond, one thing is certain: the golden age of action figures is not behind us. It is simply changing shape, becoming more accessible, more creative, and more connected to the people who love these plastic heroes. Stay tuned, stay selective, and keep collecting with purpose.
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