Key Takeaways
Cryptoys will have “interactive animal NFTs” with several customizable collectibles. The NFT platform would be built in partnership with the Web3 firm OnChain Studios. The original character drops will happen this summer, and NFTs will be released soon after.
Toymaking giant Mattel is expanding its presence in the NFT market by building its own NFT platform, ‘Cryptoys’ on Flow Blockchain. The Platform would be built in partnership with the Web3 company OnChain Studios.
Described as a “interactive animal NFTs”, Cryptoys will be a customizable collectible that can be accessorized with additional NFTs of hats, shoes, and glasses. Cryptoys which will be playable in various games and applications can be used in different experiences in the Cryptoyverse. Cryptoys will launch with original character drops this summer, and Mattel plans to release its NFTs soon after. The platform claims to receive investment support from “some of the best names in technology and blockchain, which include Andreessen Horowitz (a16z), CoinFund, Sound, Draper Associates, WndrCo, and Dapper.