Mattel, the parent company of brands such as Barbie and Hot Wheels, says there’s potential in exploring nonfungible tokens (NFTs) as a solution for its brands.
The statement was made by Mattel’s CEO Ynon Kreiz, responding to a question during the company’s Q1 2021 earnings call. “This is definitely an area where we see opportunity, especially when you think about the built-in fan base, the collector segment for classic evergreen brands that we own and we expect to see opportunities there,” he said.
The last few months have seen NFTs launch into the mainstream in a big way. Perhaps starting with the increased profile of NBA Top Shot, it reached fever pitch with the $69 million digital art sale at Christie’s in March. Since then, there’s been a steady stream of news of partnerships between NFT platforms and industry-leading companies, influential figures, and auctions.
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