The toy brand has created a series of exclusive limited-edition digital collectibles to purchase on OpenSea, a digital marketplace for non-fungible tokens (NFTs), with Geoffrey the Giraffe being the main feature, RIS News reported.
Toys”R”Us parent company WHP Global partnered with Ethernity, an authenticated NFT platform, to release the collection on the blockchain. Digital artist Bryan Lopez, who is called Exacto, created the NFT collection. A 1-of-1 piece called "The Geoffrey Stroll” was auctioned off during a live event following the drop on Nov. 13 until the sale ended Nov. 16, 2021.
The 3D animation in The Geoffrey Stroll featured Geoffrey the Giraffe stepping into a bright new feature set to the background music of a modern take on the Toys”R”Us jingle. The buyer of the NFT is invited to attend a U.S. Toys"R"Us store grand opening in 2022, including transportation to that city and a two-night hotel stay with a guest.
The collection also includes NFTs touching on pop-art style, Warhol-inspired modern portraits of Geoffrey. A “Geoffrey Through The Years” collection features Geoffrey stylized through different eras beginning with the 1960s.
"As we continue to invest in the growth of the brand, entering the blockchain signifies a momentous step into the future and allows us to broaden our engagement with our loyal and expanding community of Toys’R’Us fans,” Yehuda Shmidman, chairman and CEO of WHP Global and Toys"R"Us, said in a statement.
The NFT launch is the latest example of retailers dabbling into the blockchain space. Several retailers have experimented with cryptocurrency, including accepting some cryptocoins as payment methods. A conglomerate of luxury retailers also recently banded together to create a blockchain solution that authenticates goods.