Toy market news

MGA Entertainment’s LOL Surprise becomes latest toy brand to make move into NFTs

MGA Entertainment’s hit fashion doll brand, LOL Surprise is the latest toy brand to enter the digital collectable space, having partnered with the New Zealand based NFT app, VeVe.

Through the partnership, a series of limited edition, singularly unique digital collectables will be developed, giving fans the opportunity to collect their favourite LOL dolls and characters as 3D models which can be animated and made interactive.

The partnership marks the first time that VeVe has developed a series of NFTs based on a property taken form the children’s market.

Currently recognised as the only app of its kind, VeVe allows fans to interact with their collections through mixed reality technology that brings their favourite toys and other collectables to life. Fans will also be able to share their own curated collections of photos, videos, and virtual showrooms with their friends and the fan community using the app’s features.

VeVe NFT digital collectibles are minted on the blockchain, which allows for an immutable record of authentication and for fans to collect their digital products in a fun and engaging experience. Since last December, the VeVe app has been downloaded more than 350,000 times and has sold over 580,000 NFT digital collectibles to avid fans.