Mattel is not scared of the crypto winter. Its NFTs have been so successful that it is now launching its marketplace.
Despite the negative news surrounding the crypto ecosystem, NFTs continue attracting large entertainment companies’ attention.
Mattel, one of the world’s largest toy companies, on November 21, 2022, announced the launch of its own NFT marketplace, “Mattel Creations,” which will offer direct-to-consumer services.
According to the company’s press release, the first collection to be launched by the toy giant will feature NFTs of the Hot Wheels Garage Series 4, which will go on sale on December 15.
The Hot Wheels NFT collection was created by the same team in charge of manufacturing the physical collectible cars, thus making it possible for Mattel to offer valuable collections and rare digital artworks of Hot Wheels’ most popular vehicles, continuing its legacy on the Web3.
The Hot Wheels brand has remained a leading vehicle franchise even though it has been on the market for more than 54 years. According to Mattel, it “has proven its influence on automotive and pop culture with legendary design and epic performance.”
Hot Wheels vehicles have become the number one selling toy in the world, with more than 8 million vehicles sold and collected by fans of all ages.
Mattel is known for attracting customers through sponsorship of live events, worldwide competitions, digital games, movies, and TV shows, so it would not be surprising if they began launching campaigns promoting the new NFT market.
According to Mattel, previous NFT collections launched in conjunction with other companies, such as the Cryptoys x Masters of the Universe collection and the Barbie x Boss Beauties, have been so successful that they “sold out instantly.”
In addition to Hot Wheels, Mattel has a portfolio of iconic brands, such as Barbie®, Fisher-Price®, American Girl®, Thomas & Friends®, UNO®, and MEGA®, which, if launched in the new NFT marketplace, could compete on par with some well-known brands.