Yeah, I had the same problem in my PS3. So here are a couple tips that have worked for me, that way you get to enjoy the game while we wait for a patch to fix this bug.
- Don't place any figures pad, wait until the tutorial is done and you start at the toybox. Give it a few seconds before placing a figure, this will allow the game to fully load the level instead of freaking out trying to load both level and figure at the same time.
- If you are forced to delete any corrupted Infinity data, make sure you delete every single one (not just the one that says "user profile").
- Disconnect your PSN account, in other words don't play online (it helps)
PS: That beginning toybox moment is not the only problem, loading any save games from the playsets makes the console crash also. Sadly I don't know a way around it. As a professional game developer I can say that this sort of bugs is very common on open world games, so I'm confident it will be fixed in no time
Cheers.