We started building Toymint two years ago with a mission to raise better humans by creating toys that positively influence future generations.
Our idea was that each toy would include equity in our company and turn kids from consumers into investors.We envisioned the first toy company owned by kids. We designed a beautiful first toy car, Artgo and developed a frictionless way for the customers to claim shares after receiving the toy with a couple of clicks on their phone. We engaged STO platforms like TokenFunder and Tokeny to explore the best way to securitize our equity.
However, in late 2020, we decided to park our customer ownership program because it was prohibitively expensive, and cross-jurisdictional compliance turned out to be a nightmare.
So we turned to NFTS as a perfect alternative to the fractional ownership program.
By partnering with amazing digital artists, we create valuable NFT art pieces and attach them to our toys. The only way to acquire one of our limited edition toys is to buy the matching NFT.
Continuous innovation and numerous iterations resulted in an entirely new shopping and toy ownership experience. We were able to leverage the blockchain app we've been building for two years to hit the ground running in the NFT boom. Our Certificate of Authenticity was already based on the ERC721 token standard, so we were familiar with the technology behind NFTS.
We are also excited to help toy artists transition into the digital art world and tap new audiences.
As many people join the NFT boom to speculate, I want to clarify that TOYMINT and NFT are a match made in heaven that will positively impact many generations.
We are not just jumping on a trend here; we execute our mission to create valuable toys that will positively impact future generations.
NFT was the missing piece we've been seeking for two years in our mission to create a better world through better toys.