Mattel, one of the world’s leading toy companies and owner of multiple entertainment franchises for children and families, announced the update and launch of ‘Creations Virtual Collectibles’, a peer-to-peer marketplace powered by Rarible.
Mattelthe world’s leading toy-only company and owner of multiple franchise catalogs linked to entertainment for children and families around the world, announced the latest update and launch date for its new peer-to-peer (P2P) NFT marketplace powered by one of the strongest Web3 projects, Rarible.
This new project and Mattel’s foray into Web3 and especially into non-fungible tokens is called ‘Creations Virtual Collectibles‘, the platform will feature its own peer-to-peer NFT marketplace and will allow users who obtain Mattel’s digital collectibles to display, trade, buy and sell their virtual assets.
This new upgrade announced by the leading toy company will coincide with the Hot Wheels® NFT Garage 5 Serieswhich will be launched at the same time as the market on April 27th of this year.
About Mattel’s new P2P marketplace
Mattel’s new P2P marketplace is powered by Raribleone of the leading top-tier digital collectibles projects in the NFT ecosystem. Rarible, enables creators to grow their communities, while looking to succeed at every stage of their transition to the Web3 industry.
Also, Mattel confirmed in its official press community that in addition to Rarible, it partnered with the best technology providers in order to give the best in its new virtual collectibles platform.
Among these partnerships is Magic, a leading cryptographic wallet service. This partnership will enable Magic’s non-custodial wallet SDK to allow Mattel to white label and simplify the wallet generation experience.
In addition, it will provide its users with a secure, seamless and transparent experience, as the ‘Creations Virtual Collectibles‘ platform is developed in partnership with Flow, one of the leading enterprise blockchains in the Web3 industry.
This Blockchain is fast, decentralized and green, designed to support large-scale applications and address key user demands.
About Hot Wheels NFT Garage Series 5
The Hot Wheels NFT Garage 5 Series is developed by the same team behind the most popular brand of physical car toys for kids and collectors.
Thanks to NFTs technology, fans will be able to collect digital artwork featuring Mattel’s iconic IP (Intellectual Property).
This Hot Wheels NFT ‘Series 5’ collection consists of 40 unique cars from McLaren, Pagani, Aston Martin, Chevrolet, Porsche, and many more Hot Wheels originals.
They are currently sold in packs at a value of $25 US dollars each and include seven NFTs: four common collectibles, two rare commons and one guaranteed rare.
In addition, there will be collectors and fans who will be lucky enough to get their hands on different Premium or Treasure Hunt NFTs such as: McLaren F1, ’17 Pagani Huayra Roadster, Aston Martin Vulcan, ’55 Chevy® Panel or Porsche 911 GT3 RS. Consequently, they will be chosen to receive a physical die-cast replica.
Ron FriedmanRon Friedman, vice president of Mattel Future Lab, spoke about this new update to the project and commented that when they set out to launch their own digital collectibles platform for the first time, it was with the goal of creating the best experience for fans and collectors of one of Mattel’s iconic brands (Hot Wheels).
He added that by adding a new feature to the marketplace, the platform has become easier to navigate and will allow users to sell and trade collectibles with other fans to take a step forward in the company’s innovation and vision.
Finally, Friedman was happy to introduce the Hot Wheels NFT Garage Series 5, as people of all ages will be able to experience the new project with an updated, state-of-the-art platform.
Learn all about Mattel Creations Virtual Collectibles
Mattel Creations Virtual Collectibles first came to market in November 2022 and since then, offers digital collectibles in the form of non-fungible tokens of Mattel’s most iconic brands at an affordable price with the goal of generating a seamless user experience.
On April 27, Series 5 of “Hot Wheels NFT Garage” will be released after previous releases have sold out quickly. For example, Series 4 has been a great success selling around 30 thousand packs in less than 12 hours.
Mattel has one of the most innovative catalogs of entertainment franchises for children and the whole family. It was also one of the first physical toy companies to launch NFTs in search of new experiences in a digital environment.
Previous services launched by the California, U.S.-based company include ‘Cryptoys x Masters of the Universe‘ y ‘Barbie x Boss Beauties‘. The latter will have its second installment on the new NFT format digital collectibles platform powered by Rarible.
About Mattel
Mattel is a toy company and a leader in this field worldwide. It has one of the most important and solid catalogs of entertainment franchises for children, teenagers and the whole family.
Its product highlights include brands such as Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends®, UNO®, Masters of the Universe®, Monster High® and MEGA®.
Consequently, it has in its possession one of the strongest intellectual properties in the toy industry and this is undoubtedly a positive when bringing IP to the NFT ecosystem, since non-fungible tokens are mostly based on having a powerful IP that is recognized by users and fans.
Last but not least, Mattel has products available in more than 150 countries thanks to partnerships with major retailers and e-commerce companies around the world. The company was founded in 1945 and since then, has been working hard to explore all the potentials of children around the world.
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Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.