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Mattel, Inc. (NASDAQ: MAT) announced the launch of a peer-to-peer marketplace on its Mattel Creations Virtual Collectibles Platform on April 27, coinciding with the debut of Series 5 of the Hot Wheels NFT Garage. The marketplace will enable collectors to display, trade, and sell Mattel virtual collectibles.
Series 5 features 40 unique digital car designs from brands like McLaren and Porsche, priced at $25 per pack, each containing seven NFTs. Collectors can receive physical die-cast replicas by obtaining rare digital collectibles.
In partnership with blue-chip collectibles company Rarible and others, Mattel aims to enhance user experience on its platform, which has previously seen significant demand, with Series 4 selling out quickly.
Positive
Launch of a peer-to-peer marketplace enhances user engagement and trading opportunities.
Series 5 features 40 unique digital collectibles from popular brands, expanding product offerings.
Previous series saw high demand, indicating strong market interest in digital collectibles.
Negative
None.
Update coincides with the Series 5 release of the Hot Wheels NFT Garage
EL SEGUNDO, Calif.--(BUSINESS WIRE)--
Mattel, Inc. (NASDAQ: MAT) announced today a forthcoming update to the Mattel Creations Virtual Collectibles Platform. On April 27, the platform will introduce its own peer-to-peer marketplace, allowing owners of Mattel virtual collectibles to display, trade, and sell their assets. To coincide with the update, Series 5 of the Hot Wheels® NFT Garage will launch at the same time.
(Graphic: Business Wire)
Mattel’s P2P marketplace is powered by Rarible, a leading blue-chip virtual collectibles company that enables creators and their communities to succeed at every stage of their journey. In addition to Rarible, Mattel has partnered with several, best-in-class technology providers to bring its Virtual Collectibles Platform to life including Magic, a leading wallet-as-a-service provider. With Magic’s non-custodial wallet SDK, Mattel was able to white-label and simplify the wallet generation experience, providing customers a secure, seamless onboarding experience. The Mattel Creations Virtual Collectibles Platform was developed in collaboration with Mattel’s long-term blockchain partner Flow, a fast, decentralized, and eco-friendly blockchain designed to support consumer-scale applications serving mainstream audiences.
Developed by the same team behind Hot Wheels die-cast cars, Series 5 of the Hot Wheels NFT Garage is the latest way for fans to collect digital artwork featuring Mattel’s iconic IP, and features some of Hot Wheels’ most popular car designs in an all-new, digital format. Series 5 is comprised of 40 unique cars from McLaren, Pagani, Aston Martin, Chevrolet and Porsche as well as many Hot Wheels originals, and sold in packs priced at $25 each. Each pack includes seven Hot Wheels NFTs: four common, two uncommon, and one guaranteed rare car. Collectors lucky enough to receive a Premium or Treasure Hunt digital collectible (McLaren F1, ’17 Pagani Huayra Roadster, Aston Martin Vulcan, ’55 Chevy® Panel or Porsche 911 GT3 RS) will be eligible to receive a physical die-cast replica.
“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,” said Ron Friedman, Vice President at Mattel Future Lab. “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.”
The Mattel Creations Virtual Collectibles Platform first debuted in November 2022 and offers collectibles inspired by Mattel’s iconic brands at a practical price point and in a seamless user experience. Each release of Hot Wheels NFT Garage digital collectibles have quickly sold out, with Series 4 selling through 30 thousand packs in less than 12 hours. Mattel, which owns one of the strongest catalogs of children's and family entertainment franchises in the world, was the first toy company to launch NFTs and continues to expand in digital collectibles and experiences. Similar Mattel initiatives include Cryptoys x Masters of the Universe as well as Barbie x Boss Beauties, the second drop of which will launch on the Mattel Creations Virtual Collectibles Platform in May.
About Mattel
Mattel is a leading global toy company and owner of one of the strongest catalogs of children’s and family entertainment franchises in the world. We create innovative products and experiences that inspire, entertain, and develop children through play. We engage consumers through our portfolio of iconic brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends®, UNO®, Masters of the Universe®, Monster High® and MEGA®, as well as other popular intellectual properties that we own or license in partnership with global entertainment companies. Our offerings include film and television content, gaming, music, and live events. We operate in 35 locations and our products are available in more than 150 countries in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering children to explore the wonder of childhood and reach their full potential. Visit us online at mattel.com.
