Mattel, the toy giant, has released a non-fungible token (NFT) marketplace where users can buy digital collectibles of the company’s most iconic brands. Coupled with the release is the launch of their new Hot Wheels NFT collection. Let’s dive into the details of the marketplace and their upcoming NFT launch.
Mattel Creations: The digital collectibles marketplace
On November 21, the California-based company announced the release of the NFT marketplace on Mattel Creations, built on the Flow blockchain. According to Mattel, the direct-to-consumer platform will not require users to use cryptocurrency to buy the NFTs. In addition, by 2023, Mattel will integrate a “peer-to-peer trading platform” to allow users to trade their digital collectibles freely.
“In launching our own marketplace, we’re able to translate iconic Mattel IP into digital art … This is the latest evolution of our digital endeavors, and we look forward to sharing more drops soon inspired by some of the world’s favorite Mattel brands,” said Ron Friedman, Vice President at Mattel Future Lab.
About Mattel and their upcoming NFT drop
The leading global toy company has produced some of the world’s favorite toys, such as dolls, toy cars, and family games. They also own the intellectual property rights to brands like Barbie, Hot Wheels, Fisher-Price, and UNO, along with many others.
Furthermore, having already released NFT collections for its brands like Barbie and Hot Wheels, Mattel is releasing a new collection. In detail, the company is launching Series 4 of the Hot Wheels NFT garage on the Mattel Creations digital marketplace. This includes 60 popular cars such as McLaren, Chevrolet, Honda, Aston Martin, and many more. Further, each pack includes seven Hot Wheels NFTs of varying rarities for $25. Those who receive the rarest NFTs will be able to redeem physical die-cast replicas. Will you be the lucky collector?