Mattel has revealed that it will soon be updating its Virtual Collectibles Platform, Mattel Creations. The platform will soon feature its own peer-to-peer marketplace, allowing virtual collectible owners to display, trade, and sell their assets. Simultaneously, Hot Wheels® NFT Garage Series 5 will be launched on April 27th.
Mattel’s P2P marketplace will be powered by Rarible, a leading blue-chip virtual collectibles company that enables creators and their communities to succeed at every stage of their journey. The platform has also partnered with several best-in-class technology providers, including Magic, a leading wallet-as-a-service provider, to bring its Virtual Collectibles Platform to life. Magic’s non-custodial wallet SDK simplifies the wallet generation experience, providing customers with 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.
Series 5 of Hot Wheels NFT Garage is the latest digital artwork collection featuring Mattel’s iconic IP, developed by the same team behind Hot Wheels die-cast cars. The collection includes 40 unique cars from McLaren, Pagani, Aston Martin, Chevrolet, Porsche, and Hot Wheels originals, 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 will be eligible to receive a physical die-cast replica.
Ron Friedman, Vice President at Mattel Future Lab, said, “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. 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.”
Mattel Creations Virtual Collectibles Platform first debuted in November 2022, offering practical-priced collectibles inspired by Mattel’s iconic brands in a seamless user experience. Each release of Hot Wheels NFT Garage digital collectibles has 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.
