Polygon on the Toys for Bob franchise notes that, despite Activision's confidence in the product, it was looking for a partner to spread the risks of the venture.
"[Nintendo] spent a long time looking and looking," Toys for Bob co-founder Paul Reiche said. "They were just like 'we have never seen anything like this before.' I've always wondered about the full meaning of that comment [laughs]." Nintendo opted out of making a full commitment to the project, though the two companies did enter a co-marketing agreement for the series. "Clearly, they have got properties well suited to this world," Reiche added. "Why it is that they didn't rush in here will probably haunt them for the rest of their days."
Activision's Skylander series has since surpassed $2 billion in sales worldwide. The franchise has found its way to ten different platforms, including the recently launched Xbox One and PlayStation 4.
Though Nintendo would later experiment with a similar game in the disappointing Pokemon Rumble, it would be Disney that would eventually invest in the genre with its Disney Infinity series, leveraging the company's multitude of popular characters.
"Nintendo could have kicked Disney's ass," Reiche said. "If I was running Nintendo I would have jumped on this."