The Internet of Toys (IoToys) as an emerging type of edutainment presents a new research area, especially in the context of learning. This study investigates four connected toys played with in the preschool context. By turning to preschool-aged children and their educators observed and interviewed during and after a play test and group interview session, we study how the educational value of IoToys is actualized in a play situation in an early learning environment. In order for IoToys to work as tools in toy-based learning in the preschool context, we suggest that educators acknowledge the engagement with these toys as a form of transmedia play which demands transmedia literacy skills.