L.O.L. Goes NFT

MGA Entertainment to release limited-edition digital collectibles from its toy line.

July 9, 2021

To mark L.O.L. Day (7/07 upside down), MGA Entertainment and app company VeVe announced the L.O.L. Surprise! will be available to VeVe’s growing community of collectors.

The partnership will see L.O.L. Surprise! enter the world of digital collectibles offering fans the opportunity to collect their favorite L.O.L. dolls and characters as 3D models that can be animated and interactive. This will be the first product produced on the VeVe platform for younger audiences.

The “VeVe” app allows fans to interact with their collection and bring their favorite toys and other collectibles to life. Fans will also be able to share their own curated collections of photos, videos and virtual showrooms with friends and the fan community using the app’s features.

"This is a very exciting step to be partnering with the world’s largest toy brand and we look forward to offering a new and exciting way for fans to play and engage," says David Yu, co-founder and chief executive officer, VeVe. "With hundreds of thousands

of satisfied adult fans we look forward to creating offerings for younger fans.

VeVe NFT digital collectibles are minted on the blockchain, which allows for an immutable record of authentication and allows fans to collect their digital products in a fun and engaging experience. Since last December, the “VeVe” app has been downloaded more than 350,000 times and has sold more than 580,000 NFT digital collectibles to avid fans. On the Google app store it is one of the top apps in the entertainment category.

Earlier this year, VeVe announced plans to be the first carbon neutral NFT platform and committed to 100 percent carbon neutral NFTs, offering grants to environmental nonprofits to raise money for causes. The “VeVe” app also utilizes distributed ledger technologies, which are known to be more energy-efficient than competitors in the market.

“We are very excited to be working with a company that, like MGA, creates unique ways to experience the world of fandom,” says Isaac Larian, chief executive officer and founder, MGA Entertainment. “Combining technology with toys has been successful for us in the past and we are looking forward even more success with VeVe.”

More details on the L.O.L. and other MGA collectibles series, including drop date, will be announced in the coming weeks.