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Great business name designed for a company that combines fun (TOY) and learning (BYTE).
The name "Toybyte" has seven characters and only two syllables. Two-syllable names are very rare and very valuable. Two syllable names are used by established brands like Dropbox, Ikea and Delta.
This domain was first registered in February 2018. Older domains have an advantage when ranking in search engines.
Toybyte.com is a dot-com domain. Dot com is the most prestigious domain extension. Once secured, a dot-com all but guarantees no-one else can outrank you for your own name in the long run.