Billion-Dollar Toy Brand L.O.L Surprise! to Build Its Own NFT Marketplace
Ioconic is helping the brand build out its own marketplace where users can mint, buy and sell NFTs.
Oct 6, 2021 at 1:00 p.m. UTCUpdated May 11, 2023 at 5:48 p.m. UTC
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MGA Entertainment, makers of the top-selling L.O.L. Surprise! dolls, is partnering with Ioconic, a company that helps bring brands into the non-fungible token (NFT) industry, to bring L.O.L. Surprise! to the blockchain in the fourth quarter.
- L.O.L. Surprise! has amassed $25 billion in retail sales for the privately-held MGA, according to a press release.
- Ioconic is helping the brand build out its own marketplace where users can mint, buy and sell NFTs that will be a part of the toy property’s soon-to-be released digital trading card game.
- Fans of the brand’s popular dolls will also be able to connect their physical purchases to the blockchain via QR codes and display their collection digitally.
- “By expanding into the exciting NFT space, we hope to better engage with our customers and deliver serious value,” said Isaac Larian, CEO and founder of MGA Entertainment.
- Ioconic CEO Jamie Lewis noted that the company is working on “measures to prevent overspending and super stringent security” to create a safe environment for L.O.L.’s young fan base.
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Eli was a news reporter for CoinDesk. He holds ETH, SOL and AVAX.