MGA Entertainment has entered the NFT market by turning its top-selling toys into digital collectibles using blockchain. The company’s L.O.L Surprise brand will now have NFT functionality. Fans can now mint NFTs and show off their collection. They can also trade, buy, and sell digital collectibles online.
MGA partnered with Ioconic in order to enable this feature. Ioconic is a partnership company for brand owners and operates from London. Ioconic will create an online gaming hub to support the L.O.L Surprise trading cards game. Collectors and fans will be able use QR codes to make physical purchases.
James Lewis, CEO of Ioconic, stated that the startup created “the entire L.O.L. Lewis stated that the startup built “the entire L.O.L. digital ecosystem from scratch.” “…no brand needs are the same,” Lewis says.
MGA was founded in 1979 and is one of the largest private toy suppliers. Bratz dolls and merchandise are a trademark of the company. In September 2017, it launched the L.O.L Surprise doll brand, which was the most-sold US toy product for three years consecutively.
