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Posted on November 29, 2018 by staff

‘Traceable’ crypto-themed toys, anyone?

‘Traceable’ crypto-themed toys, anyone?

CryptoKaiju's designer toys are fully traceable on the Ethereum blockchain
CryptoKaiju’s designer toys are fully traceable on the Ethereum blockchain

A blockchain start-up creating cryptocurrency-themed designer toys is launching its first product and subscription box service.

CryptoKaiju claims that its designer collectible figures are the world’s first which are fully traceable on the Ethereum blockchain.

The company’s first figure is designed to illustrate a Bitcoin-themed traditional Kaiju monster and is aptly named Genesis, the word also used to describe the first block in a blockchain.

Only 130 Genesis figures will ship to customers starting early December, with the additional offering of Kaiju’s subscription box service launching later in the month, where subscribers will receive a unique, crypto-themed figure each month.

“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 co-founder Oliver Carding, who is also founder of blockchain news site CoinJournal.

“The concept of bringing not just provenance, but also a personality, through a set of attributes to a physical toy is extremely intriguing.

“That’s really where the idea for Kaiju came from and we’re excited to explore the full potential of this technology.”

Each figure will have a tamper-resistant NFC chip built into the foot. This technology allows smartphones and other devices to communicate with other devices containing an NFC tag.

Each Kaiju will also utilise the same token standard (ERC-721) present in the virtual game CryptoKitties, allowing each toy’s unique ID tag to be linked physically and digitally.

Carding set up CryptoKaiju with fellow co-founders David Moore, James Morgan and Andy Gray, who are behind digital art marketplace Known Origin.

“Since I initially became interested in cryptocurrencies and blockchains around five years ago, I’ve been constantly searching for a simple way to explain the technology to non-technical friends and family,” Carding added.

“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.”