Mattel Partners with WAX to Release Hot Wheels NFT Garage - Series 1

Rhea-AI Summary

Mattel (NASDAQ: MAT) announces the launch of Hot Wheels NFT Garage™ - Series 1, set for release on November 16. This series offers 40 unique NFT designs inspired by classic Hot Wheels die-cast vehicles, priced starting at $15. Collectors have a chance to redeem over 5,000 vIRLs (virtual + In Real Life) for exclusive limited-edition die-cast cars, with around a 5% chance to acquire them. The NFTs will be available on the sustainable WAX blockchain, enhancing their appeal to collectors.

Positive

• Launch of Hot Wheels NFT Garage™ - Series 1 increases product diversity.
• Potential for collectors to redeem NFTs for limited-edition die-cast vehicles.
• NFTs priced starting at $15 make them accessible to a broader audience.
• Partnership with WAX enhances credibility in the NFT space.

Negative

• None.

Fans Can Set Up WAX Cloud Wallet Today to Collect Rare and Valuable Digital Artwork from Hot Wheels with chance to own limited-edition die-cast vehicles

EL SEGUNDO, Calif.--(BUSINESS WIRE)-- Mattel, Inc. (NASDAQ: MAT) announced today the launch of Hot Wheels NFT Garage™ - Series 1 to bring Hot Wheels® fans a new way to add to their collection, in partnership with The Worldwide Asset eXchange (WAX). The Hot Wheels NFT Garage continues to grow with the release of 40 new NFT Hot Wheels designs for fans and collectors alike on November 16. These digital collectibles are the newest way to take home valuable and rare digital artwork from Hot Wheels, while also offering fans the chance to own limited-edition real-life die-cast vehicles when they collect select NFTs. The Hot Wheels NFTs will be released globally starting at the affordable price of $15 November 16, 2021.

Hobbyists can collect some of the most incredible Hot Wheels designs to date, inspired by the same brilliant designers behind iconic Hot Wheels die-casts. The NFTs, which feature a range of digital vehicles with exclusive animated packaging, are available in standard 4-card and premium 10-card packs and consist of soon-to-be sought-after variations that will offer distinct designs ranging across four tiers: Base, Rare, Premium, and NFTH (Treasure Hunt).

More than 5,000 rarities in this release are redeemable for real-life special edition die-cast cars, as part of this vIRLs (virtual+In Real Life) collection. Select tokens will unlock access to real-world Hot Wheels products including the Twin Mill™, Rodger Dodger™, Mach Speeder™, SS Camaro and the Bone Shaker™ which is the rarest of them all. Collectors will have about a five-percent chance of acquiring any of the special vIRL NFTs.

“Hot Wheels is excited to offer limited, unique and sustainable NFTs with our latest Garage of Legends series. Collectors will have a chance to obtain exclusive physical die-casts vehicles and importantly, the NFTs will be minted on the sustainable WAX blockchain,” said Andrew Chan, Head of Digital Gaming at Mattel. “The Hot Wheels design team chose 40 new designs for fans to continue to build their collections of Hot Wheels digital NFT artwork and physical die-cast vehicles!”

“As we innovate within the NFT space, WAX continues to align with incredible, iconic brands,” added William Quigley, Co-Founder of WAX. “Hot Wheels and Mattel have proven to be a perfect partner to showcase the unique offering our vIRL technology provides for collectors.”

Ahead of the November release, fans can set up their WAX Cloud Wallet by heading over to wallet.wax.io to prepare to purchase the Hot Wheels NFTs. More details about the collection can be found on the official WAX Discord.

HOT WHEELS

As a 53-year-old brand more relevant today than ever before, Hot Wheels is the world’s leading vehicle franchise which represents and unites all segments of car culture. For decades Hot Wheels has proven its influence in automotive and pop culture with legendary design and epic performance. Through unparalleled collaborations with global leaders in streetwear, fashion, luxury, entertainment, action sports and motorsports, Hot Wheels is the #1 selling toy in the world with over 8 billion vehicles sold. The brand engages fans of every generation through immersive live events, global competitions, theme park attractions, world-class digital gaming, consumer products and film and television content.

About Mattel, Inc.

Mattel is a leading global children’s entertainment company that specializes in design and production of quality toys and consumer products. We create innovative products and experiences that inspire, entertain, and develop children through play. We engage consumers through our portfolio of iconic franchises, including Barbie®, Hot Wheels®, American Girl®, Fisher-Price®, Thomas & Friends® and Mega®, as well as other popular brands 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 40 locations and sell products in more than 150 countries in collaboration with the world’s leading retail and technology companies. Since its founding in 1945, Mattel is proud to be a trusted partner in exploring the wonder of childhood and empowering kids to reach their full potential. Visit us online at www.mattel.com.

About WAX

The Worldwide Asset eXchange™ (WAX), aka the King of NFTs, is the world’s #1 blockchain, as measured by number of users and transactions, according to Dappradar.com. WAX’s mission is to bring NFTs to the mass market in the safest, most secure, environmentally friendly, and easy-to-use marketplace in the world. WAX is also the leading entertainment NFT network — in 2018, WAX introduced vIRLs^®, giving consumer product companies the ability to directly link NFTs to physical consumer products. Co-founded in 2017 by William E. Quigley and Jonathan Yantis, WAX has facilitated the trade of more than 100 million digital collectibles including Major League Baseball (via Topps MLB collectibles), Capcom’s “Street Fighter,” and world-renowned entertainers Deadmau5 and Weezer. For more information, please visit https://wax.io and follow along on Twitter and Discord.

MAT-W

View source version on businesswire.com: https://www.businesswire.com/news/home/20211026006314/en/

Mattel Media Contact:

Scott Shaffstall

Mattel Global Communications

scott.shaffstall@mattel.com

WAX Media Contact:

wax@bhimpact.com

Source: Worldwide Asset eXchange

FAQ

What is the launch date for Hot Wheels NFT Garage - Series 1?

The launch date for Hot Wheels NFT Garage - Series 1 is November 16.

How many NFT designs are included in the Hot Wheels NFT Garage - Series 1?

There are 40 unique NFT designs included in the Hot Wheels NFT Garage - Series 1.

What is the starting price for Hot Wheels NFTs?

Hot Wheels NFTs will be available starting at $15.

What are vIRLs in Hot Wheels NFT Garage - Series 1?

vIRLs are virtual items that can be redeemed for real-life limited-edition die-cast cars.

What is the redemption chance for special edition die-cast cars?

Collectors have about a 5% chance to acquire special edition die-cast cars through vIRL NFTs.