Robert Steinadler, 7 months ago
Mattel creates toys and holds the rights to some of the most successful international brands like Barbie, Hot Wheels, Fisher Price and UNO amongst others. It was this Monday when the company announced that it would enter crypto and become a part of Web3.
When is Mattel’s NFT market place going to start and what can we expect of it?
The company dubs its project a digital collectibles marketplace rather than a marketplace for NFTs. This is a trend that seems to dominate the corporate space for the better half of this year. Perhaps it is the idea that term digital collectibles sound like the items in question hold a different value, but of course the same blockchain technology is used.
The new marketplace is part of the “Mattel Creations” platform that is already facilitating the trade of unique collectibles and toys. NFTs are the newest addition to what the platform has to offer.
Unlike other marketplace, the platform is not based on Ethereum but on the technology of the Flow blockchain. Flow is focused on Web3 economy and partnered with several international brands and organizations such as the NBA, Ubisoft and Samsung.
The sale of first collection will start on December 15th and feature Series 4 of the Hot Wheels NFT Garage. Prior Hot Wheels NFT collections were available on a different platform and are based on the blockchain technology of Wax. The Hot Wheels brand is not the only brand that was featured as a digital collectible. Others like Barbie or Masters of the Universe were offered earlier on other platforms.
Series 4 will be compromised of 60 cars featuring brands like McLaren, Aston Martin, Honda as well as many Hot Wheels originals. The NFTs are sold in packs at a price of $25 each. Customers can buy up to 8 packs with one transaction but are not limited on how many transactions they can initiate. The supply is sold on a first come, first served basis. Each pack contains 7 NFTs with four basic, two epic and one rare collectible. There is also a treasure hunt and collectors who are lucky to draw such a collectible will be provided with a physical replica.
At this point we can only speculate, but it is not far fetched that Mattel will release more collections based on the portfolio of brands that the company is holding. Once again Web3 seems to be the future even though the crypto market is going to a difficult time.
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