November 28, 2022<\/p>\n\n\n\n
By Anjali Kochhar<\/p>\n\n\n\n
Global toy company Mattel has launched its own non-fungible token (NFT) marketplace on the company’s direct-to-consumer platform Mattel Creations, expanding its lineup of digital collectables from its portfolio of iconic brands.<\/p>\n\n\n\n
The California-based entertainment conglomerate produces goods including dolls, games and action figures, and owns the intellectual property (IP) rights to brands Barbie, Hot Wheels, Matchbox, UNO and Fisher-Price, among others.<\/p>\n\n\n\n
The Mattel Creations Digital Collectibles Marketplace is built on the Flow blockchain, which also powers the NBA Top Shot platform.<\/p>\n\n\n\n
According to an official statement, the new NFT marketplace was made for “mainstream consumers” and “will not require users to own cryptocurrency to make purchases,”<\/p>\n\n\n\n
The marketplace also plans to integrate a “peer-to-peer trading platform that will allow collectors to trade their digital collectables between them” by early 2023.<\/p>\n\n\n\n
The first launch on the Mattel Creations Digital Collectibles Marketplace will be Series 4 of the Hot Wheels NFT Garage, which will comprise artwork featuring 60 cars from brands like McLaren, Aston Martin and more.<\/p>\n\n\n\n
Each pack, priced at $25 each, includes seven hot wheels NFTs of varying rarity levels, with the rarest collectables redeemable for physical die-cast replicas.<\/p>\n\n\n\n
Ron Friedman, vice president at Mattel Future Lab, said in a statement that the development of a homegrown NFT platform will also the company “to translate iconic Mattel IP (intellectual property) into digital art.”<\/p>\n\n\n\n
“This is the latest evolution of our digital endeavours, and we look forward to sharing more drops soon inspired by some of the world\u2019s favourite Mattel brands,\u201d he added.<\/p>\n\n\n\n
Mattel joins a growing number of physical collectable companies expanding into digital collectables. In September, pop culture retail brand Funko released a physical and digital comic book collectable on the WAX blockchain.<\/p>\n\n\n\n
About the author<\/strong><\/p>\n\n\n\n Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.<\/p>\n","protected":false},"excerpt":{"rendered":" November 28, 2022 By Anjali Kochhar Global toy company Mattel has launched its own non-fungible token (NFT) marketplace on the company’s direct-to-consumer platform Mattel Creations, expanding its lineup of digital collectables from its portfolio of iconic brands. The California-based entertainment conglomerate produces goods including dolls, games and action figures, and owns the intellectual property (IP) […]<\/p>\n","protected":false},"author":4,"featured_media":3078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":["post-3077","post","type-post","status-publish","format-standard","has-post-thumbnail","category-all"],"yoast_head":"\n