Mattel Joins Forces with Cryptoys: A Playful Dive into the NFT World

The New Era of Play with Cryptoys

Mattel, the iconic toy brand that’s likely nestled somewhere near your fond childhood memories, is taking a leap into the digital playground by partnering with Cryptoys, a forthcoming NFT marketplace. The venture is set to feature Mattel’s beloved brands exclusively, and if that doesn’t get your nostalgia buzzing, we don’t know what will!

What’s Coming: The Cryptoys Platform

The Cryptoys marketplace is gearing up for a launch in late summer 2022 on the Flow blockchain. Funded by crypto enthusiasts like Andreessen Horowitz and Dapper Labs, this platform aims to bridge the gap between traditional toys and the rising tide of NFTs.

Making Playable Avatars

Wait, what? Playable avatars? You heard that right! OnChain Studios, the brains behind Cryptoys, is not just launching a marketplace; they are cooking up a whole Cryptoys metaverse. Get ready for the chance to embody your childhood icons like Barbie and Hot Wheels in an entirely new digital form.

Mattel’s History with NFTs

Mattel isn’t a complete newbie in the NFT game. In case you missed it, they dipped their toes into the waters of crypto collectibles back in October 2021 by releasing Hot Wheels NFTs on the WAX blockchain. And then, in January 2022, they auctioned a trio of one-of-one NFTs with luxury brand Balmain, raking in a snazzy $49,000. Talk about cashing in on nostalgia!

Competition and the Future of Toy NFTs

With the NFT sector stooping to new values projected around $800 billion over the next couple of years, other toy brands are donning their digital caps too. Hasbro, Mattel’s competitor, has already launched their NFT collection, and Funko has joined the mix as well with several collections, including the ever-popular Teenage Mutant Ninja Turtles.

Join the Digital Toy Revolution

So, are you ready to see your favorite childhood toys come back to life in digital format? While you ponder that, remember this: Mattel is betting big on the Metaverse. As Richard Dickson, Mattel’s president, stated, they see “incredible opportunity” waiting for them in these vivid digital realms. So keep your eyes peeled; your beloved toys may soon be even more beloved!