Onchain Studios, the Miami-based startup, has recently launched a new line of digital collectibles named Cryptoys, featuring classic Star Wars characters like Darth Vader, Luke Skywalker, and Princess Leia. The company partnered with Disney to bring the latest collection to the market. The digital action figures will be accompanied by powerful weapons and will come in different rarity levels.
Disney’s Exploration of NFT Industry
Disney has been exploring the non-fungible token (NFT) industry for some time now. In 2021, it collaborated with Veve, a digital collectibles firm, on several Disney and Marvel-themed collections. In July 2022, the blockchain firm Polygon was selected to participate in Disney’s 2022 Accelerator Program. In January 2022, Disney was approved by the United States Patent and Trademark Office (USPTO) for a patent to create a “virtual-world simulator.”
Cryptoys Backed by Well-known Investors
Cryptoys is backed by well-known investors such as Andreessen Horowitz (a16z), Mattel, Sound Ventures, Dapper Labs, Animoca Brands, and Acrew Capital. The platform recently collaborated with Mattel to release a Masters of the Universe NFT collection. The platform uses the blockchain network Flow, a protocol crafted by Dapper Labs that issues popular NFT compilations like NFL All Day and NBA Top Shot.
The Unboxing Experience
According to an email sent to Bitcoin.com News, “The moment fans unwrap their blister packs, they will see these characters animate before their eyes, transforming into spectacular 3D toys with big personalities.” The new Star Wars digital collectibles are priced at $39.99 each, and the team claims that “the unboxing experience is unlike any other in the digital toy space.”
The Resurgence of NFTs
In the last 90 days, NFTs have seen a resurgence in interest, with the term “NFT” scoring the highest possible score of 100 on April 30, 2023, in terms of search interest on Google Trends. Data from Google Trends indicates that the search query “digital collectible” received significantly less engagement but still received a score of 21 out of 100 on April 29, 2023. According to metrics from cryptoslam.io, NFT sales totaled $672,161,665 in April, down from the $793,745,613 recorded the previous month.