Mattel, a toy manufacturer, is launching a new platform called Mattel Creations, which will focus on non-fungible tokens (NFTs). NFTs are digital assets that are unique and cannot be exchanged for other assets on a one-to-one basis. The platform is expected to launch in early 2023.
Mattel’s Sizzling Wheels line of toy cars has already had several successful series of NFT releases on the WAX blockchain. With the launch of Mattel Creations, the Sizzling Wheels NFTs will be moving to this new platform. The new platform will also host a variety of culture-first collaborations that may be suitable for NFT engagement.
Overall, it appears that Mattel is heavily invested in the NFT space and is committed to continuing to produce NFTs for its popular toy line. The launch of the Mattel Creations platform is a positive sign for NFT enthusiasts, as it shows that the company is dedicated to this space and sees it as a viable area for future growth.
Circulate blockchain (FLOW) has discovered a giant winner with Mattel, who's departing the WAX blockchain to maneuver their devoted platform on Circulate. | Supply: FLOW:USD on TradingView.com
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As profitable as Sizzling Wheels releases have been, count on extra IP from the legacy toy model to doubtlessly hit their NFT market final 12 months. The more than likely candidate is Barbie, who has seen an NFT launch beforehand, as a part of a collaboration with trend home Balmain.
Within the massive image, Mattel has arguably hit a house run regarding introductory NFT techniques amongst manufacturers. Based on the knowledge offered from WAXMarketCap and CryptoSlam, Mattel’s Sizzling Wheels releases have been successful, yielding north of $5M value of NFT gross sales on the chain throughout over 20,000 customers. Moreover, Sizzling Wheels has sustained relevance on the chain and nonetheless sits within the high 3 amongst quantity over the previous 30 days on WAX. It’ll be a serious win for each Circulate and Mattel to maneuver to a devoted platform.