Participated · Series A · Jun 2022

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.

Participated · Series A · Jun 2022

Cryptoys builds a blockchain-based toy platform featuring cutesy, big-eyed animal characters whose uniqueness is ensured by NFTs. The company plans a wide platform launch in the next couple months on Dapper Labs' Flow blockchain to reduce friction like high gas fees and complex wallet onboarding. Cryptoys aims to make NFT mechanics accessible to younger users, initially requiring sign-ups to be 18+ while developing parent-controlled wallets that will let children interact more directly. The product roadmap includes games where users can earn NFTs through gameplay and non-NFT experiences to accommodate platforms such as iOS. Financially, Cryptoys' parent OnChain Studios recently closed a $23M Series A led by a16z Crypto, following a $7.5M seed round in October also led by a16z Crypto. Series A investors included Mattel, Dapper Labs, Draper & Associates, Acrew Capital, CoinFund, Animoca Brands and Sound Ventures.

Participated · Equity · Dec 2016

Osmo is a Palo Alto startup that integrates physical puzzle pieces, board games and blocks with iPad mobile games and content. The company launched in 2013 as Tangible Play and uses the iPad camera in apps like Tangrams to recognize how children arrange pieces and respond in real time. Osmo’s products are used in 22,000 schools globally and are sold in 50 countries. The company will use the $24 million funding to adapt popular titles — Words, Tangram, Newton and Numbers — for the iPhone. It is also partnering with Sesame Workshop and Mattel to develop new character-driven content and has a pending engagement with a research firm to study how its toys impact learning. CEO Pramod Sharma said teachers already recognize the educational value and the company plans to leverage partnerships and product expansion to grow reach. Osmo builds a hardware-based gaming kit that attaches a reflective camera and stand to an iPad and uses physical game pieces (letter tiles, puzzle shapes) to combine real-world play with iPad apps. Its initial titles include Tangram, Words, and Newton, and the company offers customization via my.playosmo.com where users can upload images and word lists. Founded in early 2013 by Pramod Sharma and Jérôme Scholler, Osmo has sold $2 million in pre-orders, including purchases from over 2,000 schools, and hundreds of teachers from over 150 schools are using the product. The kit sold for $49 on pre-order, retails for $99 and is currently sold for $79. Osmo's products are available online and are being rolled into 284 Apple stores in the U.S. and Canada as well as Marbles Toy Stores. The company plans to open its platform to third-party developers and allow further customizations as part of its longer-term roadmap. Tangible Play develops iPad accessories and software that mix augmented reality, animated graphics, and audio with traditional board game elements. The product uses a simple stand with a mirrored cap that lets the iPad camera see the playing surface and recognize physical pieces via computer vision. The company launched two titles at TechCrunch Disrupt — a word-guessing game and a puzzle game called Tangram — and demoed strong engagement, including a mother and daughter playing for an hour. Founders Pramod Sharma and Jerome Scholler bring experience from Google, NVIDIA, LucasArts, and Ubisoft, and the startup was part of Stanford’s StartX accelerator. Tangible Play has focused on games initially but says the platform could enable many non-game applications in the future. The team is running a beta signup and has raised early funding to support the launch.