Barbie to hit metaverse with Cryptoys partnership
To improve your local-language experience, sometimes we employ an auto-translation plugin. Please note auto-translation may not be accurate, so read original article for precise information.
The toy giant Mattel has announced a partnership with the NFT platform Cryptoys.
Mattel, the company best known for Barbie, Lego, Hot Wheels, and NERF guns, has signed a multi-year partnership with OnChain Studios’ NFT marketplace Cryptotoys. Together, the companies will launch a “new generation of digital toys” destined for blockchain.
The companies are planning to create “a collectible, interactive world through Cryptoys’ expansive and playable universe.” The collectibles will not be static, but rather they’ll be animated and “come to life the moment you unwrap them.” The companies aim at re-imagining traditional toys and bringing them out into the metaverse to give them a new life and people the opportunity to explore a new world with their favorite toys.
Mattel believes in creating new ventures with its toys, and Richard Dickson, President and COO of Mattel sees “incredible opportunity in the Metaverse for our cherished brands and iconic IP.”
The entire endeavor will take place on Flow blockchain and is going to launch this summer.
“Mattel shares our deep passion and innovative mindset for creating the future of play for the next generation,” said Will Weinraub, CEO and Co-Founder of OnChain Studios. “Playable and interactive NFTs will be the first foray into Web3 and blockchain for millions of people, and we want Cryptoys to be the on-ramp that makes it fun and easy for everyone to collect and play.”
Cryptotoys is launching its original character drop in summer 2022, and Mattel drops are to come soon after. October 2021, OnChain Studios raised an impressive $7.5 million for the creation of Cryptotoys, the seed round led by Andreessen Horowitz and with contributions from Draper & Associates, CoinFund, Dapper Labs, and others.
Mattel has already dipped its toes in NFTs. It partnered with the WAX blockchain last year to release a collection of Hot Wheels NFTs, and in January, it collaborated with luxury brand Balmain in the creation of three NFTs, which were sold for nearly $49,000.
Read related posts:
- Cool Cats Partners with TOIKIDO
- Metaverse Fundraising Weekly Report #5
- Sony and Lego Invest $2B in Metaverse
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.