The leading global kids' toymaker Mattel keeps expanding its presence in web3. And the recent announcement on creating Mattel's own NFT marketplace on the Flow blockchain is the best proof of that. The non-fungible platform comes as a subdivision of the Mattel Creations project, which will be housing the fourth collection in the Hot Wheels NFT set on December 15th.
According to VP of the Mattel Future Lab, Ron Friedman, the launch of Mattel's own NFT marketplace will make the process of transforming the company's IP into digital art seamless and hassle-free. Thus, the NFT platform's grand opening will become the latest milestone on Mattel's way to full web3 integration, with multiple NFT drops in the nearest future.
The company's platform for tracing digital assets will be user-friendly and accessible for non-crypto users. Thus, NFT collectors won't need crypto wallets to purchase digital collectibles, as any transaction will be made with a bank card. Moreover, users will be able to trade NFTs with other collectors already in early 2023. Another benefit that Mattel is preparing to roll out next year is an opportunity for users to port their WAX tokens onto the marketplace. By the way, it was the WAX chain that initially fuelled the first Mattel's Hot Wheels NFT launch.
As for the fourth series in the Hot Wheels NFT set, it will traditionally go live on the WAX blockchain. What's more, the total capitalization of the Hot Wheels collection saw over $5 million in sales on WAX, ranking in the top three of all NFT sets on this chain for the past month.
The fourth Hot Wheels drop will feature 60 digitized cars from top brands, spread over six rarity tiers. The set will be dropping in blind packs with seven NFTs inside, priced at $25. The minters are guaranteed to find the following Hot Wheels NFTs in each pack: four Basic, two Epic, and one rare car of Premium, Flame, Treasure Hunt, or Showroom tier. Those who pull out a Premium or a Treasure Hunt asset will grab a chance to redeem their NFTs for a physical, limited-edition die-cast car.
Mattel's NFT marketplace will definitely become a web3 meeting place for multiple brand fans who can purchase blue-chip assets using their debit or credit cards. Would you buy some to create or expand your personal Hot Wheels digital car park? If your answer is yes, go share your ideas with our community!