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Hot Wheels NFTs Get Their Own Virtual Garage

Mattel Creations introduces a new digital collectables marketplace

Mattel, the globally-known toy manufacturer, has announced the launch of its own dedicated NFT marketplace, the Hot Wheels NFT Garage. Situated within its consumer platform – Mattel Creations – building on its already extensive market.

Being the brand behind major names from Hot Wheels, Barbie, even UNO (and holding their IPs), gives Mattel an extensive range of products to bring to Web3.

The NFT marketplace will be built on the Flow blockchain, citing it as a “fast, decentralized, and eco-friendly” protocol suitable for its needs. In addition, Mattel will also integrate a “peer-to-peer trading platform” to enable users to trade with other users easily. The latter feature is expected to land by early 2023.

“Mattel is pioneering the future of play, constantly deepening our connection with fans of all ages in both the physical and digital worlds,” said Ron Friedman, Vice President at Mattel Future Lab. “In launching our own marketplace, we’re able to translate iconic Mattel IP into digital art, engaging directly with our customers and providing a best-in-class user experience. This is the latest evolution of our digital endeavours, and we look forward to sharing more drops soon inspired by some of the world’s favourite Mattel brands.”

Among the company’s extensive catalogue of products, Series 4 of its Hot Wheels NFT Garage will be the first to launch. Comprised of 60 cars from leading manufacturers, each pack of this set costs $25, making them highly accessible. What’s more, buyers have a chance of earning NFTs of varying rarities and can redeem them for physical, metal versions.

This article was first published on BlockchainGamer.biz.

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