Atlus and Funko have officially confirmed the expansion of their collaborative merchandise line for the fantasy role-playing game Metaphor: ReFantazio with the announcement of five new vinyl figures. This second wave of collectibles is scheduled to launch on June 10, 2026, marking a significant expansion of the franchise’s physical presence in the retail market nearly a year after the debut of the series’ first figure. Each of the new additions will be priced at a standard retail MSRP of $14.99, maintaining the pricing structure established during the initial product launch. This announcement follows the successful introduction of the game’s protagonist, Will, whose figure was released in 2025 and has since seen various price adjustments across major retail platforms such as Amazon, where it is currently available for less than $10.

The upcoming collection focuses on the core supporting cast and a primary antagonist, ensuring that fans of the Studio Zero-developed title can assemble a more complete representation of the game’s traveling party. The five characters slated for the June 2026 release include Eiselin Burchelli Meijal Hulkenberg, Euphausia “Eupha” Etoreika, Heismay Noctule, Leon Strohl da Haliaetus, and the formidable antagonist Louis Guiabern. These figures will be integrated into the broader Funko Pop! Games line, occupying sequential slots numbered 1,227 through 1,231.

Technical Specifications and Design Aesthetics

In accordance with the established Funko Pop! aesthetic, each figure in the Metaphor: ReFantazio wave features the signature oversized bobblehead and stylized proportions that have defined the brand for over a decade. Standing approximately four inches tall, the figures are designed to capture the distinct visual identity of the characters created by lead artist Shigenori Soejima. A key feature of this collection is the inclusion of character-specific weaponry and attire, which mirrors the high-fantasy setting of the United Kingdom of Euchronia.

For instance, the figure of Leon Strohl da Haliaetus (No. 1,227) is depicted in his noble yet practical combat gear, while Hulkenberg (No. 1,228) is rendered with her signature knightly armor and spear. The inclusion of Heismay (No. 1,229) provides a unique silhouette within the collection due to his status as a member of the eugief race, characterized by bat-like features that have been adapted into the Funko template. Eupha (No. 1,230) and Louis (No. 1,231) round out the set, with Louis being the first non-protagonist or non-party member to receive a figure in this specific line, highlighting his importance to the game’s narrative arc.

The original protagonist figure, Will, remains a point of reference for the collection’s design philosophy. Notably, the Will figure includes the character’s heterochromia—a distinct narrative and visual trait—and his signature sword. The consistency in scale and detail ensures that the 2026 wave will complement the existing 2025 release for collectors seeking a cohesive display.

Chronology of the Metaphor: ReFantazio Merchandising Campaign

The rollout of the Metaphor: ReFantazio Funko Pop! line follows a strategic timeline aligned with the game’s post-launch lifecycle. Metaphor: ReFantazio was released to critical acclaim across PlayStation 4, PlayStation 5, Windows PC, and Xbox Series X, serving as the debut project for Studio Zero, a subsidiary of Atlus led by Persona series veterans Katsura Hashino, Shigenori Soejima, and Shoji Meguro.

The chronological milestones for the merchandise line are as follows:

• Mid-2025: The first Funko Pop! figure, featuring the protagonist Will, is released to coincide with the game’s initial period of high market visibility.
• Late 2025 – Early 2026: Retailers begin adjusting the price of the initial wave, with the Will figure dropping from its $14.99 launch price to sub-$10 levels on high-volume platforms like Amazon.
• March 2026: Atlus and Funko officially announce the second wave of five figures, providing first-look images and technical details.
• June 10, 2026: The scheduled global release date for the Hulkenberg, Eupha, Heismay, Strohl, and Louis figures.

This timeline suggests a sustained commitment to the IP, treating Metaphor: ReFantazio not merely as a standalone release but as a flagship franchise alongside established titles like Persona and Shin Megami Tensei.

Supporting Data and Market Context

The decision to expand the Metaphor: ReFantazio line reflects broader trends in the gaming and collectibles industries. According to market analysis of the vinyl figure sector, video game-related merchandise remains one of the most stable segments of the "kidult" market—adults who purchase toys and collectibles. Funko’s collaboration with Atlus is a continuation of a partnership that has previously seen success with the Persona 5 line, which featured multiple waves of figures including "Chase" variants and retailer exclusives.

While the MSRP for the new wave is set at $14.99, market data suggests that the secondary and discount markets play a significant role in the lifecycle of these products. The price reduction of the Will figure to under $10 is typical for mass-produced vinyl figures approximately 12 months post-release, as retailers clear inventory to make room for new waves. This pricing dynamic allows for a two-tiered entry point for collectors: early adopters who pay a premium for immediate availability and patient consumers who capitalize on clearance cycles.

The selection of characters for this wave also provides insight into the "gaps" in the current collection. Despite the addition of five figures, several prominent characters remain unrepresented. These include:

• Basilio Lupus Magnus: A late-game party member with a distinct heavy-armor design.
• Fidelio Aureus Magnus: Basilio’s brother and a significant secondary character.
• Gallica: The protagonist’s fairy companion and a central figure in the game’s UI and narrative.
• Junah (Juani Cygnus): A popular singer and party member whose complex outfit would likely require a high level of detail in a vinyl format.

The absence of these characters suggests the possibility of a third wave or limited-edition convention exclusives in the future, depending on the commercial performance of the June 2026 release.

Official Responses and Strategic Implications

While formal press statements from individual executives were not released alongside the announcement, the strategic alignment between Atlus and Funko indicates a mutual interest in brand longevity. For Atlus, licensing characters for Funko Pops serves as a low-cost, high-visibility marketing tool that keeps the IP in the public eye long after the initial game launch. For Funko, partnering with a high-prestige developer like Atlus allows them to tap into a dedicated "otaku" and RPG-fanbase that is traditionally known for high per-capita spending on hobbyist goods.

Industry analysts note that the inclusion of Louis Guiabern in this wave is a calculated move. Antagonists often serve as "shelf-mates" for protagonists, and Louis’s design—characterized by his regal yet intimidating presence—appeals to collectors who prefer "villain" displays. His inclusion also underscores the narrative depth of Metaphor: ReFantazio, which focuses heavily on political intrigue and the clash of ideologies between the protagonist and Louis.

Broader Impact on the Metaphor: ReFantazio Franchise

The expansion into physical collectibles is only one facet of the Metaphor: ReFantazio ecosystem. The franchise has also extended into the literary market, with a manga adaptation currently available in English via Shueisha’s MangaPlus platform. This cross-media synergy is a hallmark of Atlus’s modern business strategy, ensuring that the world of Euchronia is accessible through multiple touchpoints, including gaming, reading, and physical collecting.

The availability of the game on a wide array of platforms—including legacy hardware like the PS4 and modern systems like the PS5 and Xbox Series X—has created a broad install base. This diverse audience is the primary target for the Funko Pop! line. By releasing the second wave in 2026, Atlus is effectively capturing the "long tail" of the game’s popularity, appealing to players who may have discovered the game months after its release through sales or word-of-mouth.

In summary, the June 10, 2026, launch of the new Metaphor: ReFantazio Funko Pop! figures represents a systematic effort to solidify the game’s status as a cornerstone of the Atlus portfolio. By providing fans with tangible representations of characters like Hulkenberg, Strohl, and Louis, the collaboration between Atlus and Funko facilitates a deeper level of engagement with the game’s lore and aesthetic. As the release date approaches, retailers are expected to open pre-orders, further gauging the market’s appetite for one of the most significant new RPG IPs of the decade.