Originally, Matrix action figures were only sold at specialty stores like Suncoast Video, Electronics Botique, or Funco Land. This made them somewhat hard to find, and figures commanded up to $20 each on eBay. A year later, this would not be the case, as Matrix toys were finding their way into mainstream retail chains like Toys R Us and Wal-Mart. By late 2000/early 2001, Series II of N2 Toys' Matrix action figures hit the shelves, in both specialty and mass retailer outlets. Additonally, a 12-inch line of figures was launched, featuring various versions of Neo, Trinity and Morpheus with great articulation and real clothing.

N2 Toys had plans to continue both the 6-inch and 12-inch lines of Matrix action figures. However, the company must not have been as successful as they hoped, as they filed for bankruptcy and could not continue production of Matrix toys. Supposedly, orders at Toy Fair in 2001 were less than anticipated for Matrix toys. Many toy companies bank on orders placed at Toy Fair--the largest toy trade show in the U.S.. Poor response by retailers led to small orders placed for the new Matrix toys, which led to a lack of capitol and the demise of N2 Toys. Sadly, the third series of 6-inch figures--save for Bullet-Dodge Neo--and second series of 12-inch figures were never produced.

Fans would find themselves without any new Matrix toys for two years, until McFarlane Toys released their line of Matrix action figures in 2003. These toys boasted some dynamic sculpts, but at the cost of poseability--making them less like action figures and more like statues. However, fans don't seem to mind the trade off. McFarlane's first series of Matrix figures hit store shelves in May 2003, with renditions of Neo, Trinity (both from "The Matrix"), Morpheus, Twin One and Twin Two (the three which had connecting bases to recreate the Parking Garage Scene from "Matrix Reloaded). Both Twin One and Twin Two were very hard to find, each only being alloted at one per every other case (that is, a case of 12 figures had either Twin One or Twin Two, making them the most expensive Matrix figures to date). The set was rounded out with a Chateau Boxed Set that included figures of Neo and a thug (to be kicked into a statue). Series 2 of McFarlane's Matrix figures were released in November 2003, and featured characters from "Reloaded" and "Revolutions", including a deluxe Sentinel toy and an A.P.U. featuring Captain Mifune.

At the end of 2003, Japanese toy company Medicom would release two very different kinds of Matrix figures in Japan. A series of "Kubrick" figures was released in November 2003, featuring cute, Lego-like depictions of our favorite characters (but no Smith!). At the end of the year, Medicom would release their first of three "Real Action Heros", with their deluxe (and rather expensive) Neo action figure, limited to 2,002 pieces. The figure featured cloth cloting, multiple weapons, and several different hands (clenched fists, slightly opened for weapons or open palm for "stopping bullets"). In 2004, two more "Real Action Heros" would get released in Japan--one of Trinity, and one of "Real World" Neo, each limited to 1,000 pieces.