Organisers hope to raise 15 million pounds from Wenlock and Mandeville mercandise sales

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London 2012 Olympic Games' Olympic Mascot, Wenlock (left), and Paralympic Mascot, Mandeville, during their launch at St Paul's School, in east London.

Two ultra-modern one-eyed creatures have been unveiled as the mascots for the 2012 London Olympics and Paralympics in the hope they will adorn millions of items of merchandise.

The organisers of the Games believe Wenlock, the Olympic mascot, and Mandeville, his Paralympic colleague, will raise at least 15 million pounds (17.4 million euros, 21.6 million dollars) of the 70 million pounds they need to generate from licensed merchandising.