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Popular toy-brand L.O.L Surprise launches trading collectibles on their new NFT platform

Ortal Hadad
LOL

A L.O.L Surprise NFT platform is on its way later this month through a partnership between MGA and Ioconic.

L.O.L Surprise! is launching its very own NFT platform, where young fans will be able to trade and play with their toy characters in a virtual world.

The toy brand company behind L.O.L Surprise, MGA Entertainment teamed with Ioconic to create the toys’ first NFT platform. Iconic is a full-service partnership business and they will be assisting MGA on their blockchain journey.  

While the online platform is launching later this month, an IOS and android app is expected in December. 

The new L.O.L Surprise NFT market

L.O.L Surprise has been the best toy property for three years till 2020. Now, however, it’s keeping its momentum going with a whole new NFT space.

On the site, fans will be able to trade and display their L.O.L Surprise characters. They will also be able to play an online trading card game on the platform. In fact, fans will have the option to play with their physical toy purchases. This will be available through QR codes that will replicate them online.

While the site is yet to launch on the Ethereum blockchain, it already promises exciting surprises and exclusive rewards. 

Looking after L.O.L Surprise toy’s young fan base

Considering, the young fan base of the L.O.L Surprise toys, the new NFT platform is designed carefully. It’s designed to be user-friendly for those with no blockchain experience.

“Given L.O.L Surprise’s global retail presence and our QR codes being implemented across MGA’s physical products globally, this will serve as one of the most widely marketed digital asset platforms ever. The platform will be the largest scale deployment of blockchain technology for a consumer brand that has no requirement for the end users to have blockchain or crypto experience. Crucially, we’re also creating a safe and intuitive environment for L.O.L Surprise’s young fanbase, with measures to prevent overspending and super stringent security.”

-Ioconic CEO, Jamie Lewis

In addition, the NFT game platform is also a closed ecosystem. Therefore, users cannot trade NFTs externally which might be safer for the young-based L.O.L Surprise fanbase. Nonetheless, the company does have plans on expanding this in a secure way in the future. 

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Lewis told NFT Zilla, that “Eventually [they] would like to allow collectors to export their NFTs for sale but that is a long way down the road and collectors would have to pass stringent KYC (know your customer).”

The Ioconic and MGA partnership

MGA Entertainment claims to be the world’s largest private toy company. Beside’s L.O.L Surprise! they have also introduced the world to BABY Born Surprise and the highly popular Bratz. Now, MGA takes their next step with Ioconic who is the ideal partner in this NFT journey. 

Iconic raised $1.5 million in their funding round which they are using to continue to push popular brands, such as L.O.L Surprise into the NFT space. They have NFT and blockchain specialist knowledge, yet, they also have impressive experience with renowned brands. In the past, members from Ioconic’s team have worked with WarnerBros, Disney and even Manchester United. Combining these talents, the team offers unique services to those interested in entering the crypto field. 

“We are very excited to be working with a company who, like MGA, creates unique ways to experience the world of fandom. Combining technology with toys is a smart and innovative way to engage with fans and we are looking forward to a successful partnership with Ioconic.” 

-CEO & Founder of MGA Entertainment, Isaac Larian

While toy and entertainment companies such as  L.O.L Surprise continue to join the NFT space, it becomes clear that NFTs may be heading towards the mainstream. Their sales continue to rise and it seems currently they continue to grow.

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Those interested in getting a L.O.L surprise NFT can register on their site to be notified of the platform’s official launch. 

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