The museum was founded by the Turkish poet and novelist, Sunay Akın, in 2005. The museum opened on April 23, a national holiday in Turkey, National Sovereignty and Children's Day. Currently, the museum has on display 4,000 toys and miniatures, from Turkey and abroad; many of the exhibits are antiques, some of which date back nearly 200 years. The first floor of the museum is actually the site of the Eyüp Toy Shop, a famous toy shop that had closed down in the 1950s.
Akın has indicated that the word "museum" originates etymologically from the name for the daughters of Zeus, the "muses"; on this basis, he suggests that the aim of the museum is to furnish a visitor with inspiration.
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