JAKKS Pacific And NantWorks Take Play To New Heights With DreamPlay™ Toys Joint Venture
Leading toy manufacturer JAKKS Pacific, Inc. (Nasdaq:JAKK) and
technology innovator NantWorks LLC, entered into definitive agreements
to create a joint venture company, “DreamPlay Toys LLC” to develop,
Leading toy manufacturer JAKKS Pacific, Inc. (Nasdaq:JAKK) and technology innovator NantWorks LLC, entered into definitive agreements to create a joint venture company, “DreamPlay Toys LLC” to develop, market and sell toys and consumer products incorporating NantWorks’ proprietary iD (iDream) image recognition technology. This novel technology enables the consumer to create magic in the real world - using a smart phone or tablet device - to instantly link the physical toy to video content, animation and interactive game play. With the NantWorks’ downloaded iD Browser app, a consumer simply points to the DreamPlay toy or image to activate content on a smart phone or tablet device screen, instantaneously bringing the toy to life. JAKKS Pacific plans to introduce a broad product line, which will combine this revolutionary technology with exciting new content, leaving consumers with a memorable and entertaining experience. “Our recognition platform of the physical world accurately identifies countless images and features with the capability to differentiate between millions of objects instantaneously,” said Dr. Patrick Soon-Shiong, NantWorks’ founder and developer of the iD Browser. “Through the iD app the user’s device will now be able to see, hear, recognize and capture every sensory input around them. This will give them the ability to interact with the physical world around them as they work, live and play. This power of recognition on our single app will revolutionize and change the way children interact and play on a smartphone or tablet. The iD Browser app on a device now brings together like never before, sound, print or digital images, 3D objects and live video, creating endless possibilities for families to interact with our DreamPlay toys and products. With this, we can now launch an entire new generation of interactive toys.” The new line of toy products is expected to be introduced at next month’s Los Angeles Toy Fair and at the Consumers Electronics Show in Las Vegas in January 2013. JAKKS Pacific will be responsible for the development, marketing, sales and distribution of toy products using NantWorks’ iD (iDream) image recognition platform.