a16z leads $23 million funding round for NFT gaming platform Cryptoys

Quick Take

  • NFT-native gaming platform Cryptoys announced Thursday that it has closed a $23 million Series A, led by Andreessen Horowitz.
  • Mattel was among the round’s investors, per a news release.
  • The company will use the funds to build an NFT-based gaming universe where users will interact with collectible toys, play-and-earn games, and an original animated series.

Cryptoys, an NFT-native gaming platform, announced Thursday that it has closed a $23 million Series A, along with its parent company OnChain Studios, led by Andreessen Horowitz.

Mattel, Dapper Labs, Draper & Associates, Acrew Capital, CoinFund, Animoca Brands, and Sound Ventures also participated in the round.

The company plans to use the funds to build an NFT-based gaming universe that will enable users to interact with collectible toys and play-and-earn games. It also plans to release an original animated series. The firm has partnered with toy manufacturer Mattel to develop digital toys that bring its portfolio of toy brands to the Flow blockchain.

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