OnChain Studios develops Cryptoys, fully digital NFT toys that consumers can buy, sell, collect and play with inside an immersive blockchain-based world. Each Cryptoy can gain capabilities through play and unlock new experiences. The company plans a genesis launch later this summer with initial drops of a panda, corgi and kitty, followed by Mattel-branded drops and a lineup of mini-games offering play-to-earn mechanics. OnChain is also developing AI-interactivity, elevated collector experiences, parent-controlled wallets for minors, and an original animated series. The team is 41 people and is Miami-based, operating on the Flow blockchain. The company says it will expand engineering, design, art and animation hiring to build out the ecosystem and more games and experiences. OnChain Studios is developing Cryptoys, an interactive 3D toy, gaming and entertainment universe built on the Flow blockchain where users can buy, sell, collect and play with fully digital NFT toys. Each Cryptoy can gain capabilities as it is played with and can unlock new experiences; accessories and in-game items will also be NFTs. The company plans play-to-earn features and mini-games so players can earn in-game items and rewards as NFTs. OnChain has in-house IP for its characters and intends to open the platform to other toy companies and recognizable brand characters. The team has grown to 22 full-time employees and is hiring Web3 engineers, Unity developers, 3D artists, animators and marketing staff. The company plans to launch its first line of original toys in the next few months and then roll out additional toy lines and gaming layers. Funding will be used primarily for engineering, 3D animation and Unity development to build the gaming components of the platform.

Total raised

$31M

Funding rounds

2

Latest round

Series A

Latest activity

Jun 2022