Toy Titan Mattel Announces Launch of NFT Collectibles on a Major Ethereum (ETH) Rival

Toy Titan Mattel Announces Launch of NFT Collectibles on a Major Ethereum (ETH) Rival

Toy maker Mattel has announced the debut of its non-fungible token (NFT) marketplace where fans can buy crypto collectibles tied to the company’s most popular brands.

In a statement, the California-based company writes says that Mattel Creations Digital Collectibles Marketplace is aimed at mainstream consumers.

The platform, built on Ethereum (ETH) rival Flow’s (FLOW) blockchain, will not require users to own any cryptocurrency to purchase digital collectibles. The marketplace will also support peer-to-peer trading to allow collectors to trade with each other in early 2023.

“Also coming in early 2023, customers who own Hot Wheels Garage NFTs on the WAX ​​blockchain will be able to transfer their tokens to Flow in a 1 for 1 exchange.”

Mattel is believed to be the first toy company to launch NFTs. The catalog of digital collectibles includes the Hot Wheels NFT Garage and a Barbie collection launched in collaboration with fashion house Balmain.

Series 4 of Hot Wheels NFT Garage will be the first set of collectibles offered on the platform and is scheduled for release on December 15th.

Says Mattel Future Labs Vice President Ron Friedman,

“By launching our own marketplace, we are able to translate iconic Mattel IP into digital art, engage directly with our customers and provide a best-in-class user experience. This is the latest evolution of our digital endeavors and we see looking forward to sharing more drops soon inspired by some of the world’s favorite Mattel brands.”

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Featured image: Shutterstock/Quardia/Andy Chipus

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