In Brief
Mattel is set to launch its NFT marketplace on December 15
Hot Wheels NFT Garage will be the first collection to drop
One pack from the collection will cost $25
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American multinational toy manufacturing company Mattel announces the launch of its NFT marketplace, based on the organization’s collector platform Mattel Creations.
Built on the Flow blockchain, the marketplace will become home to all the upcoming Mattel collections. Hot Wheels NFT Garage, Series 4, will be the first NFT to drop on the website. Set to launch on December 15, the collection will feature rare digital artworks from Mattel IP, as well as popular car models designed in a new way. Overall, the Series 4 collection will include 60 cars from Cadillac, Aston Martin, Chevrolet, McLaren, Honda, Pagani, Oldsmobile, and other automobile manufacturers.
The NFTs will be sold in packs, priced at $25 each. A pack will include seven Hot Wheels NFTs, among which one rare car, two epic-rarity cars, and four basic. Lucky holders of Premium or Treasure Hunt NFTs will have the possibility to redeem the artworks for the physical automobile replica.
Notably, users will only have the option to purchase Mattel’s NFTs with fiat currencies. At the begging of 2023, Mattel Creations will also integrate a peer-to-peer trading option, which will allow collectors to trade NFTs between them.
“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 endeavors, and we look forward to sharing more drops soon inspired by some of the world’s favorite Mattel brands,”
said the Vice President at Mattel Future Lab, Ron Friedman.
The upcoming NFT collection is not Mattel’s first Web3 initiative. Last year, the company released the Hot Wheels NFT Garage project in partnership with the WAX blockchain. Importantly, holders of the Hot Wheels NFTs will be able to transfer their tokens from WAX to the Flow blockchain in Q1 2023.
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