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Cryptoys Lands a 16z Funding to Build NFTs

Tens of millions of dollars are being raised by NFT startup Cryptoys with the intention of creating a blockchain-based toy business that can introduce the concepts of digital ownership and NFT mechanics to younger consumers.

The platform’s charming big-eyed animal figures come with caps, sunglasses, and cryptographically guaranteed uniqueness. It will be widely available in the coming months.

High gas costs, complicated wallet onboarding processes, and the impossibility of conducting transactions with credit cards are some of the NFT land’s hallmark roadblocks that can be avoided thanks to Flow, the platform Dapper’s NBA Top Shot operates on. Flow delivers a blockchain-lite experience.

Cryptoys CEO Weinraub said, “You have to take a step back from all of this web3 maximalism. You’ve got to take baby steps to get millions and millions of people to these new paradigms.”

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