Kids don't need, or even want, 432 toys to choose from during play time. Plus, if they see all of their toys on a daily basis, they will get sick of them (whether they play with them or not). This is why I rotate toys.
The concept is very simple. Put a portion of the toys away, and only let your child play with a select few at a time. My child has quite a few toys (we just had Christmas and a birthday). I have his toys split into 4 different groups, and he still has PLENTY to choose from.
I use my trusty Mr. Cart for this purpose. ~I've had my Mr. Cart since I was probably 7 and he has organized many things in my life. And yes, it is actually called Mr. Cart. I didn't make that up...even though I probably would name a cart if I liked it enough.~
Note: Although this is out in Baby's room here, it's home is actually in the closet. So, he really doesn't see the toys until I rotate them in.
I keep a set of toys in each of the bins, and Baby plays with the fourth set. Big toys go in the toy box, and stuffed animals are kept in a pop-up hamper. The plan is to switch to a new set of toys every 2 weeks or so. Then...Ta-Da! New toys, Baby!
He also has books and sensory toys that I let him use supervised. Yes...he has to be supervised with his books because he literally eats them (yes bites, chews, and swallows). But these are not in the rotation as I simply choose what he will use when the time comes.
I am aware that this isn't actually minimizing, since I did not actually get rid of his toys. But, I feel like it gives a sense of minimalism, anyway. Plus, there is less to clean up, at the end of the day.