• 25 Billion Dollar Toy Brand to Launch L.O.L. Surprise NFT Collection

  • Consumer entertainment products giant MGA Entertainment is entering the non-fakeable token (NFT) industry, turning its best-selling toys into digital collectibles on the blockchain.

    The American toy giant is preparing to launch an NFT feature for its world-famous brand L.O.L. Surprise, allowing fans to mint NFTs, showcase their character collections, and buy, sell and trade digital collectibles online.

    To enable this new feature, MGA has partnered with Ioconic, a London-based brand owner partnership that provides opportunities for the NFT and digital asset industry. The startup will enable an online game hub for the L.O.L. Surprise trading card game, allowing fans and collectors to use QR codes to replicate physical purchases.

    Ioconic CEO Jamie Lewis told Cointelegraph that the startup has built “the entire L.O.L. Surprise digital ecosystem from the ground up.”

    “Every brand we work with receives a tailored digital asset strategy, as no two brands have the same requirements. We have reached an agreement with a major deal that will underpin the L.O.L. Surprise platform, but will be announced after the site launches in two weeks,” Lewis noted.

    Founded in 1979, MGA Entertainment is one of the world’s private toy suppliers and is known for its Bratz fashion dolls and merchandise. released in September 2017, MGA’s L.O.L. Surprise dolls have been the best-selling toy property in the U.S. for three consecutive years beginning in 2018, contributing to overall toy sales in the U.S. and retail sales in 2020 of 25 billion.

    Ioconic was launched in early 2021, backed by an initial investment from Hong Kong-based blockchain investment firm Kenetic, whose managing partner Jehan Chu is one of Ioconic’s co-founders.

    Ioconic already has several licensing deals with entertainment giants such as Disneyland and Warner Bros. Entertainment.” We have worked with each of these brands in previous environments, focusing on physical products, and are now engaging with some of them, focusing on digital assets. Because we are a relatively new company, we have not yet announced all of our partnerships,” Lewis added.

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