# OnChain Studios

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/onchain-studios

- Industry: Software
- Headquarters: Miami, US
- Website: www.cryptoys.com
- Total disclosed funding: $34M
- Latest round: Series A (Jun 23, 2022)
- Investors on record: 12

## About

OnChain Studios, Inc. develops innovative digital collectibles and gaming experiences within the Cryptoyverse, merging toy collecting and gaming in a dynamic virtual environment.Founded in 2021, OnChain Studios, Inc. is headquartered in Miami, US. The company specializes in creating a digital ecosystem for collectibles. The founders, Alfonso Martinez, Emilio Cueto, Jhonathan Torres, and Will Weinraub, have diverse backgrounds in technology and gaming. The company successfully raised USD 23.00 mn in Series A funding on June 23, 2022, led by Andreessen Horowitz, with participation from notable investors such as CoinFund and Dapper Labs Inc. The total amount raised by OnChain Studios, Inc. to date stands at USD 23.00 mn, with a current valuation of USD 108.17 mn.Cryptoys primarily offers a unique line of digital collectibles that blend gaming and toy collecting in the Cryptoyverse, a digital ecosystem designed for engaging user experiences. Their core product offerings include various collectible characters, which are available in five rarity tiers, with prices starting at USD 39.99. These digital toys enable users to collect, play, and interact within a virtual environment known as The Block, where they can showcase and utilize their Cryptoys in upcoming casual games and play-to-earn experiences. The platform is designed for a broad audience, including both collectors and casual gamers, aiming to democratize access to digital collectibles through a cost-effective model. Cryptoys targets markets such as North America, Europe, and Asia, with an emphasis on users who are interested in NFTs and digital gaming experiences.Cryptoys generates revenue through direct-to-consumer sales of their digital collectible cubes, each priced at USD 39.99, which contain a randomly assigned character from various franchises, including notable brands like Disney and Masters of the Universe. Customers purchase these collectibles via the Cryptoys platform, contributing to the overall transactional framework of the business. The company has structured its revenue model around the sale of individual digital toys, with opportunities for additional income from future casual games and play-to-earn mechanics that will leverage the collected characters. The incorporation of these additional gaming experiences is expected to enhance user engagement and create ongoing revenue streams as users invest in collecting and utilizing their digital assets.In June 2022, OnChain Studios, Inc. raised USD 23.00 mn in Series A funding to support its vision of expanding NFT-adjacent opportunities, including games that allow users to earn NFTs through gameplay. The company aims to enhance its product offerings and is expected to introduce new digital collectibles and gameplay features in the near future. Additionally, OnChain Studios plans to expand into new markets across North America, Europe, and Asia to reach a broader audience of digital gaming enthusiasts. The recent funding will be strategically utilized to develop these initiatives and engage users effectively.

## Funding rounds

- Series A, Jun 23, 2022, $23M — Andreessen Horowitz, Mattel Inc., Draper & Associates Inc, Animoca Brands Corporation Limited, Sound Ventures, Miami Angels, Dapper Labs Inc., Acrew Capital, CoinFund Management
- Seed, Oct 25, 2021, $7.5M — Andreessen Horowitz, Draper & Associates Inc, Sound Ventures, WndrCo, Dapper Labs Inc., Collab+Currency Management, CoinFund Management
- Seed, Aug 10, 2021, $3.5M — Pareto Holdings

## Investors

- Pareto Holdings (https://capitalatlas.ai/funds/pareto-holdings) — Seed
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Seed, Series A
- Draper & Associates Inc — Seed, Series A
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Seed, Series A
- WndrCo (https://capitalatlas.ai/funds/wndrco) — Seed
- Dapper Labs Inc. — Seed, Series A
- Collab+Currency Management (https://capitalatlas.ai/funds/collab-currency-management) — Seed
- CoinFund Management (https://capitalatlas.ai/funds/coinfund-management) — Seed, Series A
- Mattel Inc. — Series A
- Animoca Brands Corporation Limited — Series A
- Miami Angels (https://capitalatlas.ai/funds/miami-angels) — Series A
- Acrew Capital (https://capitalatlas.ai/funds/acrew-capital) — Series A