Toy giant Mattel is further deepening its toes into the NFT realm with an update to its Creations Virtual Collectibles Platform. In a recent press release, the leading global toy company said it would turn the virtual platform into a dedicated peer-to-peer (P2P) NFT marketplace, allowing collectors to display, trade, and sell their assets.
The marketplace, scheduled to launch on April 27th, is powered by Rarible, a leading blue-chip NFT company and infrastructure provider. To bring the platform to life, Mattel also teamed up with Magic, a top wallet-as-a-service provider, whose non-custodial wallet SDK enabled the toy company to white-label and simplify the wallet generation experience. Magic’s wallet integration will help provide users with a secure and seamless onboarding process. It’s also worth noting that a new NFT platform will run on Flow, an eco-friendly layer 1 blockchain capable of serving Mattel’s large mainstream audience.
Mattel is deeply interested in improving its customer relationship and coming up with new engagement methods with its audience. Ron Friedman, VP at Mattel Future Lab, said the marketplace launch is part of a long-term vision of creating an "unrivaled, best-in-class" experience for users of Mattel's iconic brands.
Alongside the P2P marketplace, Mattel is debuting Series 5 of its Hot Wheels NFT Garage, featuring Mattel's iconic IP in digital format. The collection comprises 40 unique cars from McLaren, Pagani, Aston Martin, Chevrolet, and Porsche. The items will be sold in packs, priced at $25 each.
Each bundle includes seven Hot Wheels NFTs: four common, two uncommon, and one guaranteed rare car. Lucky collectors that acquire a Premium or Treasure Hunt digital collectible, such as McLaren F1, '17 Pagani Huayra Roadster, Aston Martin Vulcan, '55 Chevy® Panel, or Porsche 911 GT3 RS, will get the chance to receive a physical die-cast replica.
Since foraying into the non-fungible universe last year, Mattel has not looked back and has instead continued to expand its NFT products. By launching a P2P marketplace, the leading toy brand will be able to translate its iconic Mattel IP into digital art, engage directly with customers, and create a better user experience.
