The hottest toy of the year is made by a tech startup you’ve never heard of

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illuminem summarises for you the essential news of the day. Read the full piece on The Wall Street Journal or enjoy below:

🗞️ Driving the news: Nex, a little-known Silicon Valley tech startup, has stunned the toy industry
• The company created the year’s hottest toy, the NexPlayground Active Play System
• It has achieved a remarkable turnaround, with the product now topping charts and selling out in major retailers

🔭 The context: Nex started out developing an AI app aimed at tracking basketball shots
• After several years of pivoting, the company turned its focus to creating an innovative, modular play system for children
• This unexpected venture has now become a breakout hit, affirming the unpredictable path of tech startups entering unfamiliar markets

🌍 Why it matters for the planet: The unexpected rise of Nex’s product also highlights the increasing trend of tech companies entering non-tech industries, such as toys
• This raises questions about sustainability in product manufacturing, supply chains, and waste
• The toy industry, known for its massive environmental footprint, may need to adapt to these new market dynamics

⏭️ What’s next: Nex is likely to continue its pivot into the toy sector, potentially disrupting the traditional play industry

💬 One quote: “We didn’t know anything about toys, but we knew how to build a product that people would love,” said a Nex engineer

📈 One stat: Nex’s Active Play System was the top-selling toy on Amazon during the busiest shopping day of the year

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