As part of its exciting new venture, Mattel is rolling out its NFT marketplace that will include the Hot Wheels NFT Garage.

The American toy industry leader, Mattel, has unveiled plans for its highly anticipated NFT marketplace, based on their collector hub, Mattel Creations.

Utilizing the Flow blockchain, this new marketplace will serve as the central hub for all future collections from Mattel. Hot Wheels NFT Garage The Series 4 collection, which is scheduled to launch on December 15, will showcase 60 distinctive vehicles, featuring rare digital artworks inspired by Mattel's intellectual properties, along with popular car models reimagined creatively. This exciting collection will spotlight iconic brands, including Cadillac, Aston Martin, Chevrolet, McLaren, Honda, Pagani, and Oldsmobile.

Each NFT pack will come at a price point of $25, and within each pack, buyers will receive seven Hot Wheels NFTs, which will include one rare car, two epic cars, and four standard ones. Those fortunate enough to hold Premium or Treasure Hunt NFTs will have the exciting opportunity to exchange their digital artworks for physical car replicas.

It's worth noting that purchases of Mattel's NFTs will be restricted to fiat currencies only. Additionally, starting in early 2023, Mattel Creations plans to introduce a peer-to-peer trading feature, allowing collectors to exchange NFTs amongst themselves.

"By launching our own marketplace, we can transform beloved Mattel intellectual properties into digital art, directly engaging with our audience while ensuring an exceptional user experience. This is merely the next chapter in our digital journey, and we eagerly anticipate sharing more themed drops soon inspired by some of the most cherished Mattel brands,\" stated Ron Friedman, Vice President at Mattel Future Lab.

This impending NFT collection marks just one of Mattel’s various initiatives within the Web3 landscape. Last year, they debuted the Hot Wheels NFT Garage in collaboration with the WAX blockchain. Notably, collectors of Hot Wheels NFTs will have the option to migrate their tokens from WAX to the Flow blockchain in the first quarter of 2023.

Barbie is poised to make her entrance into the metaverse through a partnership with Cryptoys.

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