Cryptocurrency-Themed Vinyl Toys Rolled Out By CryptoKaiju

News | November 29, 2018 By:

Blockchain startup CryptoKaiju has rolled out a set of uniquely collectible toys that are fully traceable on the blockchain.

CryptoKaiju produce collectible cryptocurrency themed vinyl toys that link to non fungible tokens on the ethereum blockchain to prove provenance and authenticity. The company was founded by Oliver Carding, founder of cryptocurrency news site CoinJournal, in an attempt to tackle how provenance, authenticity and proof of scarcity are handled for physical art.

The company annouced that it is shipping its first batch of 130 Genesis figures today. Genesis has been designed to illustrate a bitcoin-themed traditional Kaiju monster. The figure stands 5.5 inches and is made of high-quality vinyl. Each toy will utilize the same token standard (ERC-721) present in CryptoKitties, allowing each toy’s unique ID tag to be linked physically and digitally, ensuring that the provenance and singularity is unable to be pirated or faked.

“As a longtime collector of designer toys such as Kaws, Futura Pointmen and Medicom Bearbricks, I’ve previously had issues with not having full confidence that what I was buying was genuine, as well as issues with knowing exactly how many items have been produced in each batch, said Carding. “The concept of bringing not just provenance, but also a personality, through a set of attributes to a physical toy is extremely intriguing.”

Each toy is represented as a token that sits within a smart contract and contains unique metadata describing it, including its gender, color, birth date and two personality traits. CryptoKaiju said each purchased toy will be chosen at random so the collectible potential is sky high. In addition, the company is offering its own subscription box service that allows customers to receive a different toy every month.

Carding said that besides being a cool and fun product for the cryptocurrency community, the CryptoKaiju collectible is intended to showcase blockchain technology to non-technical people.

“Since I initially became interested in cryptocurrencies and blockchains around 5 years ago, I’ve been constantly searching for a simple way to explain the technology to non-technical friends and family,” Carding said. “That’s when it dawned on me that and for most people, conceptualizing technology that’s completely intangible is rather difficult. Unless they can actually see or feel the item they’ve purchased, it often doesn’t make sense. We can’t wait to bring the benefits that blockchain offers to a physical product and creating an easy access point for people who wish to get involved in the space.”