Reports said that 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.
It has been reported that coupled with the release is the launch of their new Hot Wheels NFT collection. On November 21, the California-based company announced the release of the NFT marketplace on Mattel Creations, built on the Flow blockchain.
However, according to Mattel, the direct-to-consumer platform will not require users to use cryptocurrency to buy NFTs. In addition, by 2023, Mattel will integrate a “peer-to-peer trading platform” to allow users to trade their digital collectibles freely.
Ron Friedman, the Vice President at Mattel Future Lab, said:
“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.”
The report said that 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.
Thus, having already released NFT collections for 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. Each pack includes seven Hot Wheels NFTs of varying rarities for $25.
Source: NFT Evening
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