Mattel is home to some of the world’s most well-known and beloved brands, including Barbie, Fisher-Price, Hot Wheels, American Girl, Thomas & Friends, UNO, and MEGA. It is clear that they hold some of the most iconic IPs in the toy industry.
In January of this year, Mattel began its journey into web3 by auctioning three exclusive NFTs for a Barbie collaboration with the luxury fashion brand Balmain. RE3W covered this story in a recent report.
Mattel announced on Twitter an upcoming partnership with OnChain Studios and Flow blockchain. The partnership will endeavor to create a web3 project called “Cryptoys” – to be built for the Flow blockchain.
“Cryptoys” will be a new generation of digital toys that live on the Flow blockchain. They will be fully interactive and evolve over time unlocking new capabilities, play-to-earn games, and metaverse experiences.
“Cryptoys” are planning to launch their original character drops this summer – with Mattel releasing its NFTs soon after. Current investors in “Cryptoys” include big names such as Andreessen Horowitz, CoinFund, Dapper Labs, and WndrCo, among others.
