Between celebrity promotions, influencer scams and rapidly shifting financial values, NFTs developed a somewhat dubious reputation in 2022. But working to combat that stigma is LA-based Toekenz, which is building the first branded-NFT platform for kids and families, designed to usher them into the web3 era with safety and legitimacy.

“There’s no way around it: The NFT space is confusing, intimidating and, in some ways, dangerous—even for sophisticated investors,” says Toekenz CEO Iris Ichishita. “I think a lot of the current fear-mongering around NFTs and children just shows how much education we need in the space, and we want to provide that opportunity.”

Using the company’s namesake app, kids ages eight and up can build a digital portfolio of NFTs by engaging with the platform’s catalogue of play-to-collect puzzle and creative games, as well as educational tutorials. The Toekenz app is currently in beta-testing on mobile devices.

Ichishita co-founded the company in 2021 with chairman James Runnels (CEO of crypto brokerage Digital Prime Technologies). The pair conceived the idea for Toekenz after seeing how their kids interacted with technology at home during COVID-19 lockdowns.

“We know that kids are involved in digital gaming, virtual communities and collectibles because this was how they socialized during the pandemic,” says Ichishita. “These children are now some of the most digitally skilled people on the planet, and yet they have the least safe access to blockchain-based gaming and NFTs.”

To build up the platform’s legitimacy and safety, Toekenz is actively using PRIVO for its FTC-approved COPPA Safe Harbor program. The app will also feature a suite of parental controls allowing adults to monitor kids’ engagement on the app and manage what content they can access.

While these measures should help build accountability, Ichishita says that bringing licensing into the mix will bind all of the platform’s pieces together. “By developing brand partnerships with toy companies and studios, parents will have trust and peace of mind in knowing that these projects and digital collectibles are authentic and 100% legally licensed.”

In 2022, Toekenz signed licensing deals with Mattel, Pinkfong and Canadian prodco Boat Rocker Media to integrate their properties onto the platform through branded games, exclusive NFT collections and virtual fan clubs.

“When I began pitching Toekenz to major brands last year, it started with questions,” says Ichishita. “What is this technology? Do we need it? And how do we add it to our digital portfolios? Now, the conversation has evolved to, ‘We absolutely need it,’ because unlike other adult-facing projects that feature children’s properties, companies now have the ability to actually reach and engage [younger audiences].”

Ichishita says the company is actively seeking out more partnerships with multi-generational brands, targeting kids who are hungry for collectibles and families that want to understand the tech.

“Looking at adult-facing NFTs, early adoption is key, and we don’t want everyday families and children to be left behind,” says Ichishita. “Early adopters get all the perks down the road, but if we help families understand the space and build those foundational skills now, they can thrive in the metaverse as it continues to evolve.”

While Toekenz is focused in the short term on preparing for its launch, Ichishita predicts that the next trend in the NFT space will be adding user-generated content. “I believe that there is a desire for people to design and mint their own NFTs. We see that as a natural evolution of our business, and we want to offer creation tools to help [users] foster their own collections and web3 franchises.”

This story originally appeared in Kidscreen’s June/July 2023 issue.