Leading toy company Mattel has signed a partnership with WAX blockchain to launch non-fungible tokens (NFTs) of its Hot Wheels Garage brand. The project will mint 40 different types of Hot Wheels and commercialize them at the starting price of $15 from November 16th.
Despite being a toy-like product, Hot Wheels is also a very collectible brand. It launched in 1968 with a collection of 16 cars, most of which are amongst the most valuable Hot Wheels today. The series of each toy car varies in scarcity. Some designs were launched in exclusive partnership with other popular brands, and some are so rare collectors believe they were launched just for display purposes. Mattel even has a dedicated “Collectors” website and a destination for Hot Wheels hardcore fans.
Many antique Hot Wheels can sell for thousands of dollars. While Mattel’s general target audience is children, it seems that this NFT launch is more focused on attracting Hot Wheels collectors.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
