Mattel, the toy giant, has unveiled a nonfungible token (NFT) marketplace where users can purchase digital collectibles of the company’s iconic brands. Coupled with the release is the introduction of their new Hot Wheels NFT collection. What does the marketplace entail and what will happen in the upcoming NFT launch?
The toy giant maker unleashed its NFT marketplace on Mattel Creations.
Mattel Creations: The Digital Collectibles Marketplace
On November 21, the California-based firm announced the release of the NFT marketplace on Mattel Creations, powered by Flow blockchain. Based on Mattel, the direct-to-consumer platform will not need users to use crypto to purchase the NFTs.
Furthermore, by 2023, Mattel will integrate a ‘peer-to-peer trading platform’ to enable users to trade their digital collectibles freely.
Ron Friedman, Vice President at Mattel Future Lab, commented:
“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.”
Company Overview And Their Forthcoming NFT Drop
The leading global toy firm has produced some of the world’s favorite toys, including toy cars, dolls, and family games. Also, they own the intellectual property rights to brands like Fisher-Price, Barbie, UNO, Hot Wheels, and many others.
Moreover, having already unveiled NFT collections for brands like Hot Wheels and Barbie, Mattel is unveiling a new collection. Generally, the company is unleashing Series 4 of the Hot Wheels NFT garage hosted on the Mattel Creations digital marketplace.
It includes 60 popular cars like Chevrolet, Aston Martin, McLaren, Honda, and many others. Also, every pack features seven Hot Wheels NFTs of different rarities for $25. Those who get the Rarest NFTs will manage to redeem physical die-cast replicas. Who will be among the lucky collectors?