Bitcoin News and Finance
Toy Manufacturer Mattel to Launch P2P Marketplace for Virtual Collectibles on NFT Platform Skip to main content

Toy Manufacturer Mattel to Launch P2P Marketplace for Virtual Collectibles on NFT Platform

Toy Manufacturer Mattel to Launch P2P Marketplace for Virtual Collectibles on NFT Platform

On April 20, the American toy manufacturing company Mattel announced an update to its virtual collectibles platform, which will go live on April 27. The peer-to-peer platform, called Mattel Creations Virtual Collectibles, will coincide with the Hot Wheels NFT Garage Series 5, featuring some of Hot Wheels’ most popular car designs.

Mattel Creations Virtual Collectibles Platform to Launch Peer-to-Peer Market Feature

The toy manufacturer Mattel, Inc. (Nasdaq: MAT) is continuing to expand into the non-fungible token (NFT) realm with the latest update to its Mattel Creations Virtual Collectibles platform. The addition is a peer-to-peer (P2P) marketplace powered by the NFT company Rarible. Mattel collaborated with the wallet-as-a-service provider Magic and its blockchain partner Flow. The P2P marketplace launch will coincide with the launch of the Hot Wheels NFT Garage Series 5, a collection of digital collectibles designed by the same team that created the Hot Wheels die-cast cars.

Toy Manufacturer Mattel to Launch P2P Marketplace for Virtual Collectibles on NFT Platform

Series 5 includes 40 different cars, and the digital collectibles will be sold in packs for $25 each. If a collector gets a premium or “Treasure Hunt” digital collectible, which includes the Porsche 911 GT3 RS, ’55 Chevy Panel, Aston Martin Vulcan, McLaren F1, and Pagani Huayra Roadster, they will be eligible to receive a physical die-cast replica of the same car. The popular toy manufacturer, founded in 1945 and headquartered in El Segundo, California, is among a slew of toy companies attempting to break into the NFT industry.

Companies such as Funko, Disney, Walmart, Hasbro, Toys R Us, and others have released NFT products in the last three years. In October of last year, Mattel launched an official Masters of the Universe digital toy collection to celebrate the franchise’s 40th anniversary. Mattel also collaborated with the Veefriends NFT project and released a limited edition UNO deck featuring Veefriends NFT characters. Ron Friedman, vice president of Mattel Future Lab, explained that the new P2P marketplace feature expands on the toy company’s virtual collectibles platform.

“When we first set out to launch our own Virtual Collectibles Platform, we did so with the intention of creating an unrivaled, best-in-class experience for the fans of Mattel’s iconic brands,” Friedman said in a statement on Thursday. “In adding a marketplace feature to our easy-to-navigate platform that enables users to sell and trade their virtual collectibles, we’ve taken another step toward realizing that vision.” When the marketplace feature launches on April 27, owners of Mattel NFTs will be able to “display, trade, and sell their assets” in a peer-to-peer fashion.

What are your thoughts on Mattel’s latest foray into the NFT realm with the launch of its peer-to-peer marketplace for virtual collectibles? Share your thoughts about this subject in the comments section below.

Labels:

Comments

Post a Comment

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...
Post a Comment
Read more

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...
Post a Comment
Read more

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...
Post a Comment
Read more

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Post a Comment
Read more
Blogarama - Blog Directory