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April 24, 2023
Mattel has announced a forthcoming update to the Mattel Creations Virtual Collectibles Platform. On April 27, the platform will introduce its peer-to-peer marketplace, allowing owners of Mattel virtual collectibles to display, trade and sell their assets. To coincide with the update, Series 5 of the Hot Wheels NFT Garage will launch at the same time.
Mattel’s P2P marketplace is powered by Rarible, a virtual collectibles company. In addition to Rarible, Mattel has partnered with several technology providers to bring its Virtual Collectibles Platform to life including Magic, a wallet-as-a-service provider. With Magic’s non-custodial wallet, SDK, Mattel was able to white-label and simplify the wallet-generation experience, providing customers 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.
Developed by the same team behind Hot Wheels die-cast cars, Series 5 of the Hot Wheels NFT Garage is the latest way for fans to collect digital artwork featuring Mattel’s IP, and features some of Hot Wheels’ most-popular car designs in a new, digital format. Series 5 comprises 40 cars from McLaren, Pagani, Aston Martin, Chevrolet and Porsche as well as many Hot Wheels originals. 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 (McLaren F1, ’17 Pagani Huayra Roadster, Aston Martin Vulcan, ’55 Chevy Panel or Porsche 911 GT3 RS) will be eligible to receive a physical die-cast replica.
“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,” says Ron Friedman, vice president, Mattel Future Lab. “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.”
The Mattel Creations Virtual Collectibles Platform first debuted in November 2022 and offers collectibles inspired by Mattel’s iconic brands at a practical price point and 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 and Barbie x Boss Beauties, the second drop of which will launch on the Mattel Creations Virtual Collectibles Platform in May.
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