MGA Entertainment is launching a non-fungible token (NFT) collection that accompanies in-store purchases of its L.O.L. Surprise! brand trading cards, the company announced Tuesday.
- The release is in partnership with Ioconic, an NFT company that the toy brand inked a deal with in October.
- The company is releasing 10 million packs of cards in 20,000 retail outlets worldwide, including Walmart, Target and Walgreens in the U.S., according to a press release.
- Each pack of cards has its own QR code that comes with “digital trading cards, tokens, NFTs or a digital version of their physical collectible” that can be instantly redeemed.
- L.O.L. Surprise! has done over $25 billion in retail sales for privately-held MGA, according to a press release.
- MGA is tapping Polygon’s layer 2 blockchain to host the NFT collection.
- “Polygon is delighted to be supporting the fastest-growing global toy doll brand, L.O.L. Surprise as they move these beloved toys on-chain with the help of Ioconic,” Polygon said in a press release. “L.O.L. Surprise NFTs will provide an innovative way to increase fan engagement and open up exciting new opportunities for the L.O.L. Surprise dolls phenomenon to tap into a new digital domain.”
Read more: Billion-Dollar Toy Brand L.O.L Surprise! to Build Its Own NFT Marketplace
