Known for releasing iconic toy brands like Barbie and Hot Wheels, Mattel is growing its decades-old business within the Web3 space with the help of Toekenz Collectibles. The LA-based metaverse company is gearing up to launch its app that works to connect children and families to digital collectibles.
Toekenz designs and develops branded experiences on the blockchain, aiming to be the first family-focused and kid-safe non-fungible token (NFT) platform. Founded by vets in the digital content and cryptocurrency sectors, Toekenz’s tech operates across multiple blockchains to achieve maximum flexibility and interoperability while minimizing its environmental impact, according to a company release.
The company announced its latest partnership on Wednesday wherein it will create blockchain-based digital collectibles that depict Mattel brands and characters.
This move is one in a series for Mattel as the company has grown its metaverse presence in recent years. Mattel Creations, the company’s DTC platform, dropped a series of Hot Wheels NFTs last summer. Earlier this year, Mattel released customizable animal NFTs Cryptoys with the help of OnChain Studios.
“I am inspired by Mattel’s pursuit of innovative ways to delight families and children,” Iris Ichishita, Toekenz’s co-founder and CEO, said in a statement. “Mattel’s activations on Toekenz will represent exciting new engagement opportunities in the digital world for their world-class brands.”
As it takes on a key role in Mattel’s latest Web3 venture, Toekenz is focused on engaging every member of the family in the digital collectibles space in a fun and safe way. Its solution was built to offer end-to-end parental control and provide play-to-collect games alongside a metaverse marketplace. Its goal is for kids to learn about Web3 through play and build their digital skills and collectibles as the world advances toward the new age of the internet.
“We already know that NFTs are a fantastic way for fans to further engage with Mattel brands,” Mike DeLaet, Mattel’s global head of digital gaming, said in a statement. “Until now, no such platform has existed where parents and children can together discover and learn more about the world of digital collectibles. We are proud to partner with Toekenz as we bring some of the most iconic Mattel IP to their cutting-edge platform.”
Mattel may be one of Toekenz’s earliest partners, but the company plans to announce a range of others that have signed on to help it achieve its goal. These partners include legacy characters, live-action and animated content franchises and more, according to the company.
Toekenz will officially launch its platform in Q4 on the Apple and Google app stores.
