Mattel Launches NFT Marketplace

The premiere launch features brands like McLaren and Aston Martin.

Nov 24, 2022
by Michael
Mattel Launches NFT Marketplace
News

The NFT marketplace 

Mattel, a global toy company, has officially launched its non-fungible token(NFT) marketplace. This comes a year after its first Hot wheels NFT minting on Ethereum. The marketplace was built on the Flow blockchain, which also powers the NBA Top Shot platform. It does not require participants to own cryptocurrency to make purchases. 

The digital collectibles marketplace is a subset of Mattel’s direct-to-consumer platform called Mattel Creations. It plans to integrate a peer-to-peer trading platform that allows collectors to trade their digital collectibles within themselves. In addition, the platform will also enable users on the WAX blockchain to transfer their tokens to Flow in 2023. The WAX blockchain is where Mattel originally launched its Hot Wheels NFTs. 

The California-based entertainment firm has a wide range of products, from dolls to games and action figures. They also own intellectual property(IP) rights to brands such as Barbie, Hot Wheels, Matchbox, Fisher-Price, UNO, and many more. 

Series 4 of the Hot Wheels NFT set

Despite the NFT bear market, users are excited for the fourth series in the Hot Wheels NFT set. The Hot Wheels collection has produced over $ 5 million in sales on the WAX blockchain. In addition, it has remained in the top three of NFT sets on the blockchain for the past month. 

The first launch on the Mattel Creations Digital Collectibles Marketplace will be the Series 4 of the Hot Wheels NFT Garage. It will comprise artwork featuring 60 cars from top brands like McLaren, Aston Martin, and many more. Users can purchase a pack for $25, each containing seven hot wheels NFTs of varying rarity levels. The NFT items include four basic, two epics, and one guaranteed rare car. 

Ron Friedman, Vice President at Mattel Future Lab, said: 

"In launching our marketplace, we're able to translate iconic Mattel IP into digital art, engaging directly with our customers."

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