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Cryptoys Unveils Star Wars Digital Toys in New Line of Collectibles

Cryptoys Unveils Star Wars Digital Toys in New Line of CollectiblesThe crypto platform Cryptoys, backed by Andreessen Horowitz, has announced the launch of Star Wars collectible digital toys featuring iconic characters Darth Vader, Luke Skywalker, and Princess Leia. Cryptoys stated on Thursday that 15 digital action figures will be available to collect in total, and the initial Star Wars non-fungible token (NFT) drop will begin […]

What is Operation Choke Point 2.0? Trump vows to end it

Toy Manufacturer Mattel and Cryptoys Announce Masters of the Universe NFT Collection

Toy Manufacturer Mattel and Cryptoys Announce Masters of the Universe NFT CollectionThis week, in celebration of the 40th anniversary of the Masters of the Universe (MOTU) franchise, the toy manufacturing company Mattel announced the launch of the official MOTU digital toy collection. The new collection, dropping on November 9, will feature classic MOTU characters like He-Man, Battle Cat, Tri-Klops, and Evil-Lyn. He-Man and the Masters of […]

What is Operation Choke Point 2.0? Trump vows to end it

Digital Identity Startup Unstoppable Domains Secures $65 Million in a Series A Led by Pantera Capital

Digital Identity Startup Unstoppable Domains Secures  Million in a Series A Led by Pantera CapitalOn Wednesday, the Web3 digital identity platform Unstoppable Domains announced the company has secured $65 million in financing in a Series A funding round led by Pantera Capital. The latest funding gives Unstoppable Domains a post valuation of $1 billion, pushing the blockchain startup up to unicorn status. Unstoppable Domains Joins the Growing List of […]

What is Operation Choke Point 2.0? Trump vows to end it

Barbie-verse: Mattel inks multi-year deal with Cryptoys NFT marketplace

Mattel plans to use its intellectual property featuring brands such as Barbie and Hot Wheels to create playable avatars sold as non-fungible tokens (NFTs) in an upcoming metaverse.

Major toy brand Mattel has signed a multi-year partnership with forthcoming toy-focused non-fungible token (NFT) marketplace Cryptoys to exclusively feature its brands on the platform.

Cryptoys is expected to launch in late summer 2022 on the Flow (FLOW) blockchain and is the flagship product of OnChain Studios which has received funding from crypto-interested venture capital firms such as Andreessen Horowitz (a16z) and Dapper Labs.

OnChain Studios also plans to make a Cryptoys metaverse and other play-to-earn games where Mattel's intellectual property — including Barbie, Hot Wheels, and Masters of the Universe among many others — will be made into playable avatars.

Mattel President and Chief Operating Officer Richard Dickson said it was the “first toy company to launch NFTs” and that the brand sees “incredible opportunity in the Metaverse for our cherished brands and iconic IP.”

The partnership was teased by Cryptoys on June 8 with its Twitter account posting a cryptic 17-second video featuring some of Mattel’s retro product advertisements.

Mattel has explored NFTs in the past and partnered with the WAX blockchain in October 2021 to release a collection of Hot Wheels NFTs. January 2022 also saw Mattel auction three one-of-one NFTs in collaboration with French luxury brand Balmain which netted the brands close to $49,000 for all three.

With the NFT sector expected to move around $800 billion over the next two years, other toy brands have launched NFTs to capitalize on the growing interest and generate new revenue streams for their business.

Mattel’s major competitor Hasbro which owns brands like Action Man, My Little Pony, and G.I. Joe launched its first NFT collection in October 2021 for its Power Rangers brand in a bid to compete in the NFT space.

Related: Beyond the hype: NFTs can lead the way in transforming business experiences

Pop-culture collectibles giant Funko has created multiple NFT collections, an early one of which featured the Teenage Mutant Ninja Turtles in August 2021, shortly after it acquired NFT display and tracking platform Tokenwave.

Cryptoys itself also plans to sell a collection of original avatar like NFTs with these so-called “digital toys” featuring customization through further NFTs which can change clothing, accessories and attributes for use in a wider “Cryptoyverse” the company plans to build.

Mattel’s NFTs will join other popular projects on the Flow blockchain including NBA’s Top Shot and UFC’s Strike.

What is Operation Choke Point 2.0? Trump vows to end it