Franky the Hanky Whale competed for the coveted Toy of the Year (TOTY) award for Infant/Toddler Toy of the Year 2014. The Toy Industry Association (TIA), the trade association for toy manufacturers, distributors, and retailers, created the TOTYs to honor the best new toys on the market. Since 2000, TOTYs have signaled out the top toys in a number of categories. In 2014, TIA honored toys in 13 categories including activity toy, boy toy, e-connected toy, educational toy, game, girl toy, infant or toddler toy, innovative toy, outdoor toy, preschool toy, property of the year, and specialty toy. From among the winners in each TOTY category, TIA officials select one, single, best overall Toy of the Year. Award winners receive their honors at a celebration in New York City held at the start of TIA's annual trade show, ToyFair.