Mattel Launches NFT Marketplace

Mattel has launched its own NFT marketplace on its direct-to-consumer platform Mattel Creations, with series four of the Hot Wheels NFT Garage set to be its first offering.

The new marketplace, built on the Flow blockchain, will not require cryptocurrency to make purchases and will integrate a peer-to-peer trading platform in early 2023. The newest Hot Wheels NFT Garage set will be released December 15, with artwork comprised of over 60 cars.

Cars from McLaren, Chevrolet, Honda, Aston Martin, Oldsmobile, Pagani and Cadillac, as well as many Hot Wheels originals, are included. They will be sold in packs that cost $25, with each pack containing seven NFTs: four basics, two epics and one guaranteed rare car. Customers who receive a premium or treasure hunt digital collectible will be able to redeem them for a physical die-cast replica.

In early 2023, customers who own Hot Wheels Garage NFTs on the WAX blockchain will be able to transfer their tokens to the new Flow blockchain in a one-for-one exchange.

“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, VP 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 endeavors, and we look forward to sharing more drops soon inspired by some of the world’s favorite Mattel brands.”