Toy maker Mattel has announced the debut of its non-fungible token (NFT) marketplace where fans can buy crypto collectibles tied to the company’s most popular brands.
In a statement, the California-based company says that the Mattel Creations Digital Collectibles Marketplace is aimed at mainstream consumers.
The platform, built on Ethereum (ETH) rival Flow’s (FLOW) blockchain, will not require users to own any cryptocurrency to buy digital collectibles. The marketplace will also support peer-to-peer trading to allow collectors to trade among themselves by early 2023.
“Also coming in early 2023, customers who own Hot Wheels Garage NFTs on the WAX blockchain will be able to transfer their tokens to Flow in a 1 for 1 exchange.”
Mattel is believed to be the first toy company to launch NFTs. Its catalog of digital collectibles includes Hot Wheels NFT Garage and a Barbie collection launched in partnership with fashion house Balmain.
The Series 4 of the Hot Wheels NFT Garage will be the first set of collectibles to be offered on the platform, and is slated to be released on December 15th.
Says Mattel Future Lab Vice President Ron Friedman,
“In launching our own marketplace, we’re able to translate iconic Mattel IP into digital art, engaging directly with our customers and providing a best-in-class user experience. This is the latest evolution of our digital endeavors, and we look forward to sharing more drops soon inspired by some of the world’s favorite Mattel brands.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Quardia/Andy Chipus