Wowtown.com allows children to share their videos of themselves and friends playing with the latest toys and games.
Each month, the firm will give away an iPod Touch to the winning video in every category.
Categories that kids can upload videos to include vehicles and ride-ons; dolls and stuffed toys; radio controlled and interactive toys; action figures and blasters; learning toys and games; building sets and blocks and everything else.
The site features a 'staff pick' and 'popular videos' section to highlight particular uploads.
In an interview with ToyNews earlier this year, Richard North, MD, commented: “I think the closest site and the one everyone kept saying when they saw it is YouTube – it’s like the YouTube of the toy market.”
“Something really big will come out of that [wowtown .com], that’s never been done in the industry. A new way to market will come out of it that’s really clever and really interesting.”