Mattel, the toy company that manufactures Masters of the Universe toys, is launching a new digital toy line in partnership with NFT platform Cryptoys.
Mattel is the toymaker behind the ‘Masters of the Universe’ series. The deal with Cryptoys to release some of the beloved characters from the franchise will necessitate non-fungible tokens, or NFTs
The first drop should arrive on November 9, 2022. The characters featuring NFTs are He-Man/Prince Adam, Battle Cat/Cringer, Evil-Lyn and Tri-Klops. Other characters like Skeletor and Trap-Jaw are coming soon.
This NFT collection commemorated the franchise’s 40th anniversary on October 11, 2022. However, drops will be released from November 2022 until January 2023.
Each drop will include 10,000 NFT for each character and will have 7 different rarity levels. NFTs can be retained unopened or used to buy more collectibles or even other NFTs.
Mattel and Cryptoys are working together to create a comprehensive universe for collecting and playing these characters digitally. It’s a way to digitize an iconic and long-running franchise according to Mattelexplained’s worldwide head of digital games Mike DeLaet.
Will Weinraub, Co-founder, and CEO of OnChain Studios stated: “Initially we are starting off by focusing on the collectors and unboxing experiences but soon you’ll be able to play with your Cryptoys in many different ways including a number of games that we will soon be releasing.
Weinraub further commented: “On top of that, we’re elevating the digital collector experience with quests, rewards, and titles that unlock access to exclusive drops, experiences, and more.”
The collection raised US$23 million in funding from Andreessen Horowitz (a16z), Dapper Labs, and Mattel earlier this year. The first set of MOTU NFTs will be available for purchase on November 9th. According to a post on Hypemoon, the NFTs will be released in three distinct phases till January of next year.
