Cryptoys

Cryptoys is a digital toy company operating on the blockchain, aiming to merge the worlds of toy collecting, gaming, and entertainment. The company, a product of OnChain Studios, was co-founded by CEO Will Weinraub, CTO Emilio Cueto, CXO Alfonso Martinez, COO Jhonathan Torres, and CCO Freddy Oropeza. Weinraub, a serial entrepreneur who previously founded and sold LiveNinja, was inspired to create Cryptoys after observing his daughter's excitement for surprise-pack physical toys. This led to the idea of creating digital-native toys with provable rarity and interactive capabilities, a side project that began in 2018 and evolved into a full-time venture in 2021.

The company's core product is interactive, 3D digital toys, or "Cryptoys," which are non-fungible tokens (NFTs) on the Flow blockchain. These collectibles are introduced through an immersive unboxing experience where users purchase a "Cryptoy Cube" and can choose to keep it sealed or unwrap it to reveal the toy inside. Each toy has unique characteristics such as breed, skin, rarity, and a "Stat-O-Meter" that indicates its power level for gaming purposes. The business model centers on the sale of these digital toys, which often feature intellectual property from major brands. Cryptoys has established significant partnerships, notably a multi-year agreement with Mattel to bring iconic brands like Masters of the Universe to the platform, as well as collaborations with Disney for Star Wars and Mickey and Friends collectibles. Revenue is also expected from a play-and-earn ecosystem, where users can participate in games and experiences within the expanding "Cryptoyverse".

Cryptoys targets a broad market of collectors and gamers, from children to adults, by making the platform accessible and user-friendly. The platform is designed to ease the onboarding process into the blockchain space for a mass audience. The company secured a $7.5 million seed round in October 2021 and a $23 million Series A round in June 2022, with participation from notable investors like a16z, Mattel, Dapper Labs, and Animoca Brands. These funds are directed towards building out the Cryptoyverse, developing more games, and creating an original animated series to deepen the platform's narrative and user engagement.

Keywords: digital toys, NFT collectibles, blockchain gaming, OnChain Studios, play-to-earn, metaverse, Flow blockchain, Will Weinraub, digital collectibles, Mattel partnership, Disney NFTs, Star Wars collectibles, interactive NFTs, 3D collectibles, virtual toys, crypto gaming, surprise unboxing, NFT marketplace, family entertainment, Web3 gaming, digital asset ownership