Mattel Unveils P2P NFT Marketplace
Tapping into the nostalgia of Hot Wheels enthusiasts, Mattel, Inc. unveiled plans for the anticipated update to the Mattel Creations Virtual Collectibles Platform. Set to launch on April 27, the platform will debut a peer-to-peer marketplace. The platform will enable collectors to showcase, trade, and monetize their prized Mattel virtual assets. What’s more, the update will coincide with the release of Series 5 Hot Wheel NFTs.
Mattel Teams Up with Rarible and Magic
Mattel’s peer-to-peer marketplace is brought to life through a collaboration with Rarible, a top virtual collectibles company committed to the success of creators and their communities.
In its quest to deliver its Virtual Collectibles Platform, Mattel has joined forces with top-tier technology providers, including Magic, a trailblazing wallet-as-a-service provider. Magic’s non-custodial wallet SDK enabled Mattel to create a white-labeled, user-friendly wallet generation experience. The aim is to ensure customers enjoy a secure and seamless onboarding process.
The platform results from a fruitful partnership with Flow, Mattel’s long-standing blockchain ally. Flow is known for its fast, decentralized, and eco-friendly infrastructure tailored to meet the demands of mainstream consumer applications.
From the creative minds behind the iconic Hot Wheels die-cast cars, Series 5 of the Hot Wheels NFT Garage ushers in a new era of digital collecting, showcasing Mattel’s legendary IP in a stunning digital format.
Ron Friedman, Vice President at Mattel Future Lab commented on the move: “When we first set out to launch our own Virtual Collectibles Platform, we did so with the intention of creating an unrivaled, best-in-class experience for the fans of Mattel’s iconic brands.”
He continued: “In adding a marketplace feature to our easy-to-navigate platform that enables users to sell and trade their virtual collectibles, we’ve taken another step toward realizing that vision. Especially as we unveil Series 5 of the Hot Wheels NFT Garage, we can’t wait for fans and collectors of all ages to experience the updated platform.”
High-Octane Collection: Series 5 of Hot Wheels NFT Garage
The collection boasts 40 distinctive vehicles from renowned automakers like McLaren, Pagani, Aston Martin, Chevrolet, and Porsche, alongside cherished Hot Wheels originals. Priced at just $25 per pack, each bundle contains seven Hot Wheels NFTs: four common, two uncommon, and one guaranteed rare car.
For the fortunate collectors who acquire a Premium or Treasure Hunt digital collectible—such as the McLaren F1, ’17 Pagani Huayra Roadster, Aston Martin Vulcan, ’55 Chevy® Panel, or Porsche 911 GT3 RS—a tangible die-cast replica will be their ultimate reward.
Since its launch in November 2022, the Mattel Creations Virtual Collectibles Platform has captivated fans by offering accessible and immersive collectibles inspired by Mattel’s legendary brands.
The platform’s Hot Wheels NFT Garage digital collectibles have become an instant sensation, with Series 4 selling out 30,000 packs in under 12 hours. As one the first toy company to embrace NFTs, Mattel boasts a massive catalog of children’s entertainment franchises. It continues to explore the realm of digital experiences.
Among the company’s pioneering ventures are Cryptoys x Masters of the Universe and Barbie x Boss Beauties, with the latter’s second drop set to dazzle fans on the Mattel Creations Virtual Collectibles Platform in May.
Since its inception in 1945, Mattel has consistently proven its adaptability and resilience in the ever-evolving toy industry. Over the years, the company has delighted generations with their iconic brands, showcasing an unwavering commitment to innovation. Mattel’s recent foray into digital collectibles and Web3 technology is another step for the company.
A Hot Wheels NFT pack costs $25, containing seven NFTs: four common, two uncommon, and one guaranteed rare car. These packs provide an affordable way for collectors to engage with digital collectibles.
Series 5 features 40 digital vehicles from renowned automakers and Hot Wheels originals. Collectors can purchase packs with a mix of common, uncommon, and rare cars, and some may even receive Premium or Treasure Hunt collectibles with die-cast replica eligibility.
The Hot Wheels NFT peer-to-peer marketplace is scheduled to launch on April 27. This highly anticipated update to the Mattel Creations Virtual Collectibles Platform aims to provide an innovative space for collectors to display, trade, and monetize their Mattel virtual assets.
Mattel has partnered with Rarible for the P2P marketplace, Magic for wallet-as-a-service, and Flow for blockchain infrastructure. These collaborations ensure a cutting-edge, user-friendly experience on the Virtual Collectibles Platform.
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