Toy maker Mattel is keen to pursue NFTs, announcing the launch of NFTs on its new dedicated platform, Mattel Creations, this week. In a press release obtained by Bitcoinist on Monday, Mattel shared his pursuit of the new platform. This is expected to be led by the latest series from toy company Hot Wheels NFT.
Let’s take a quick look at what this latest announcement from Mattel is about, it’s the new blockchain of choice and what to expect in the future.
Hot Wheels NFT: Pedal To The Metal
The Hot Wheels NFT is one of the most successful NFT projects running on the WAX blockchain, but when Mattel Creations officially launches NFT support (expected in early 2023), the Mattel and Hot Wheels NFT is. Signature Toys is on its way to its fourth series of NFT releases, and the new platform has a continuing and vested interest in his NFT, a toy brand that heralds blockchain-based collectibles moving forward. is a bullish signal for NFT fanatics, reflecting
in the meantime, Mattel Creations No NFT support, but already in progress. Creations delivers on the inspiration of ‘toys as art’ and continues to complement it with digital goods. Previously, Hot Wheels’ NFTs of him were usually sold in packs priced at $25, which included physical Hot Wheels car vouchers, and usually sold out quickly. Creations is also host to a series of collaborations that put toymaker culture first, making it ripe for NFT engagement.
Flow blockchain (FLOW) has found a big winner with Mattel, who is departing the WAX blockchain to move their dedicated platform on Flow. | Source: FLOW:USD on TradingView.com
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Similar to the successful release of Hot Wheels, it is expected that IP from legacy toy brands could hit the NFT market last year. The most likely candidate is Barbie, who previously saw him release NFT as part of a collaboration with fashion house Balmain.
Overall, Mattel has arguably hit a home run when it comes to implementing NFT strategies across brands. According to data provided by WAX market capitalization When crypto slam, Mattel’s Hot Wheels release is a hit, generating $5 million worth of NFT sales on-chain across over 20,000 users. Additionally, Hot Wheels remains relevant on the chain and remains in the top three on WAX by volume over the last 30 days. Moving to a dedicated platform is a big win for both Flow and Mattel.
Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
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