Mattel has launched a brand new non-fungible token marketplace. The crypto developments appear when the nascent crypto sector has been facing a lousy reputation following the recent FTX contagion that left the general crypto market to crumble.
Mattel, one of the world’s largest toy companies, announced plans to launch the new NFT marketplace “Mattel Creations” earlier this week. The toy company also revealed the launching of a new NFT collection.
Mattel Launches New NFT collection
According to the press release, the NFT collection will feature digital collectibles depicting the Hot Wheels Garage Series 4 toy cars. The new Hot Wheel NFTs will begin minting on December 15 on the new Mattel Creations NFT marketplace.
The new NFT collection has been developed by the same teams in charge of manufacturing the physical collectibles cars. According to the announcement, this will allow Mattel to offer a valuable collection.
For the past 54 years, the Hot Wheels brand has remained the leading toy collection franchise. During this time, Mattel has proven its influence on automotive and pop culture with its legendary designs.
Moreover, Hot Wheels have become one of the best-selling toy brands globally, selling more than 8 million vehicles this year. Mattel has been attracting customers through events, digital games, animated movies, and TV shows.
Mattel’s NFT Push
It’s not the first time Mattel would be investing in the NFT space. In October, Mattel partnered with Cryptoy to launch the “Cryptoys x Masters of the Universe” NFT collection. Mattel also previously partnered with Barbies to drop the “Barbie x Boss Beauties.” All two NFT collections sold out instantly.
In the meantime, Mattel Creation NFT Market is live for Hot Wheels NFT collections. Mattel features a portfolio of iconic brands such as Barbie®, Fisher-Price®, American Girl®, Thomas & Friends®, UNO®, and MEGA®. The toy car maker anticipates using its brand to launch more NFTs collections in the coming weeks.
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