Mattel to debut Hot Wheels Series on its new NFT marketplace

Mattel, the world-renowned toy brand, debuts its first NFT marketplace on Flow blockchain this week. The platform will list famous toys as digital collectibles with tons of utility for holders.

The company will be integrating the marketplace with Mattel Creations, its existing eCommerce platform so that the users can easily browse through the digital items connected to Mattel toys.

Mattel

wants to expand its IP brand in Web3 by introducing these collectibles. According to Mattel Future Lab VP Ron Friedman, the company wants to pursue its vision of innovation for its consumers.

In celebration

of the marketplace launch, Mattel will be launching its first NFT collection “Hot Wheels NFT Garage” Series 4 on December 15, 2022.

“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,”

Friedman said.

Anyone who mints the Hot Wheels NFT Garage collection will receive “IRL redemption opportunities to exclusive die-cast cars that they love.”

“Mattel and DapperLabs share the same vision that digital collectibles can deepen the connection fans have with their favorite brands,” a Twitter post by Flow reads.

The first collection will also be part of an experiment to see how many consumers are interested in buying digital collectibles and will list many more series including collectibles from Barbie.

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