Cryptoys Raises $23 Million to Mix NFTs, Gaming, and Virtual Toys
Cryptoys, an NFT-based startup, announced it has raised $23 million in a Series A funding round led by a16z. The company, which seeks to mix NFTs with the world of gaming and virtual toys, will create what it calls a “cryptoyverse,” in which it will also implement play-to-earn features and issue its own tokens. Cryptoys Raises $23 Million in Series A Round The NFT market is facing a slump phase that is affecting prices and the popularity of NFT projects recently. However, there are projects that have managed to stay afloat and even thrive. One of them is Cryptoys,....
Related News
NFT Steez chats with Cryptoys CEO Will Weinraub about the future of toys, entertainment and play in blockchain-based games. On Oct. 14, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with the founder of Cryptoys, Will Weinraub to discuss the current role of play and toys in regard to their integration with nonfungible tokens and Web3 as a whole. Weinraub believes that the act of play is "not restricted to children'' and believes that as adults, "we still crave the element of play throughout life." According to Weinraub, through the development of....
Last week, Apocalyptic Apes founder Bill Starkov told Cointelegraph that NFT holders can earn millions by licensing their NFTs. This week’s newsletter highlights Mattel signing a multi-year partnership with an NFT marketplace, Mastercard planning to let cardholders purchase NFTs directly with their cards, and NFT holders being able to earn millions of dollars through intellectual property rights for their NFTs. Those investing in NFTs can also learn more about the drop in floor prices for prominent collections like Bored Ape Yacht Club (BAYC) and CryptoPunks, while this week’s Nifty News....
Mattel plans to use its intellectual property featuring brands such as Barbie and Hot Wheels to create playable avatars sold as non-fungible tokens (NFTs) in an upcoming metaverse. Major toy brand Mattel has signed a multi-year partnership with forthcoming toy-focused non-fungible token (NFT) marketplace Cryptoys to exclusively feature its brands on the platform.Cryptoys is expected to launch in late summer 2022 on the Flow (FLOW) blockchain and is the flagship product of OnChain Studios which has received funding from crypto-interested venture capital firms such as Andreessen Horowitz....
The bitcoin gaming company will use the funds to scale its expanding demand in partnership with multiple investors including AAA gaming studio, Square Enix.
Gaming is gradually receiving attention in the crypto space. The use of blockchain in developing some gaming platforms is increasing as more people now embrace virtual assets. Also, non-fungible tokens (NFTs) have been acting as the catalyst for accelerating users’ engagement in virtual gaming. While considering the trend in the gaming industry, which tilts toward […]