Mattel launches the NFT marketplace
Mattel has launched its own digital collectibles (NFT) marketplace on Mattel Creations, the company’s direct-to-consumer platform. Mattel Creations Digital Collectibles Marketplace is built on the Flow blockchain, a decentralized blockchain that the brand touts as being environmentally friendly.
According to Mattel, the platform was chosen to support consumer-scale decentralized applications serving mainstream audiences. Mattel Creations Digital Collectibles Marketplace also will not require users to own cryptocurrency to make purchases. It will integrate a peer-to-peer trading platform that will allow collectors to trade their digital collectibles among themselves in early 2023.
Ron Friedman, Vice President of Mattel Future Lab said, “Mattel is pioneering the future of play,” and continues to deepen connections with fans of all ages in both the physical and digital worlds.
“By launching our own marketplace, we are able to translate iconic Mattel IP into digital art, engage directly with our customers and provide a best-in-class user experience. This is the latest evolution of our digital endeavors and we see looking forward to sharing more drops soon inspired by some of the world’s favorite Mattel brands, he added.
Mattel, which owns children’s and family entertainment franchises worldwide, was one of the first toy companies to launch NFTs and digital collectibles. Mattel also claims that previous releases of the Hot Wheels NFT Garage sold out immediately, as did Barbie’s collection of digital collectibles in collaboration with fashion house Balmain. Other Mattel initiatives in this area include the Cryptoys x Masters of the Universe collection and the Barbie x Boss Beauties offering.
On a separate note, Mattel and Elon Musk’s rocket company, SpaceX, entered into a multi-year deal in July. The agreement was to develop and market objects that encourage collectors and children to make use of their inner space travel.
As part of the deal, Mattel will begin marketing toys inspired by SpaceX under its Matchbox brand from 2023. Matchbox is best known for its action figures and toy vehicles. At the same time, astro-themed items will also be unveiled on Mattel Creations, the company’s online collaborative and direct-to-consumer collector platform. “We pride ourselves on our ability to create products and experiences that honor cultural moments and inspire humanity,” said Nick Karamanos, SVP Entertainment Partnerships at Mattel.
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