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.

“This is a very exciting step to be partnering with the world’s largest toy brand and we look forward to offering a new and exciting way for fans to play and engage,” said David Yu, co-founder and CEO, VeVe.

“With hundreds of thousands of satisfied adult fans we look forward to creating offerings for younger fans.”

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.

VeVe is currently one of the top apps in the entertainment category on the Google app store.

On top of that, earlier this year VeVe announced its plans to be the first carbon neutral NFT platform and committed to 100 per cent carbon neutral NFTs, offering grants to environmental nonprofits to raise money for causes.

“We are very excited to be working with a company who, like MGA, creates unique ways to experience the world of fandom. Combining technology with toys has been successful for us in the past and we are looking forward even more success with VeVe,” said Isaac Larian, CEO and founder of MGA Entertainment.

More details on the L.O.L. and other MGA collectibles series, including drop date, will be announced in the coming weeks.

About Robert Hutchins

Robert Hutchins is the editor of Licensing.biz and ToyNews. Hutchins has worked his way up from Staff Writer to the position of Editor across the two titles, having spent almost eight years with both ToyNews and Licensing.biz, and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@biz-media.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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