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Mattel Launches NFT Marketplace With Hot Wheels Collection

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Global toy company Mattel has launched its own non-fungible token (NFT) marketplace on Mattel Creations, the company's direct-to-consumer platform, expanding its lineup of digital collectibles from its portfolio of iconic brands.

The California-based entertainment conglomerate produces goods like dolls, games and action figures, and owns the intellectual property (IP) rights to brands like Barbie, Hot Wheels, Matchbox, UNO, Fisher-Price and more. So far, it has released NFT collections for its Barbie and Hot Wheels franchises.

Mattel joins a growing number of physical collectible companies expanding into digital collectibles. In September, pop culture retail brand Funko released a physical and digital comic book collectible on the WAX blockchain. In addition, Marvel has teamed up with licensed NFT marketplace Veve to make its comic books viewable in augmented reality, while gaming powerhouse Hasbro has released a collection of Power Rangers NFTs that could be redeemed for a limited-edition action figure.

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