Mattel launches NFT marketplace

Mattel has launched its own digital collectibles (NFT) marketplace on Mattel Creations, the company’s direct-to-consumer platform. The Mattel Creations Digital Collectibles Marketplace is built on the Flow blockchain, a decentralised blockchain touted by the brand to be eco-friendly.  

According to Mattel, the platform was chosen to support consumer-scale decentralised applications serving mainstream audiences. The Mattel Creations Digital Collectibles Marketplace will also not require users to own cryptocurrency to make purchases. It will integrate a peer-to-peer trading platform that will allow collectors to trade their digital collectibles between them in early 2023.

Ron Friedman, vice president at Mattel Future Lab said, “Mattel is pioneering the future of play”, and constantly deepening connections with fans of all ages in both the physical and digital worlds.

“In launching our own marketplace, we’re able to translate iconic Mattel IP into digital art, engaging directly with our customers and providing a best-in-class user experience. This is the latest evolution of our digital endeavors, and we look forward to sharing more drops soon inspired by some of the world’s favorite Mattel brands,” he added.

Mattel, which owns children's and family entertainment franchises in the world, was one of the first toy companies to launch NFTs and digital collectibles. Mattel also claims that previous releases of the Hot Wheels NFT Garage sold out instantly, as did Barbie’s collection of digital collectibles in collaboration with fashion house Balmain. Other Mattel initiatives in this area include the Cryptoys x Masters of the Universe collection and the Barbie x Boss Beauties offering.

On a separate note, Mattel and Elon Musk's rocket company, SpaceX, inked a multi-year deal in July. The deal looked to develop and market items that encourage collectors and kids to tap into their inner space explorer.

As part of the deal, Mattel will start marketing toys inspired by SpaceX under its Matchbox brand from 2023. The Matchbox is best known for its action figures and toy vehicles. Concurrently, astro-themed items will also be unveiled on Mattel Creations, the company's online collector platform for collaboration and direct-to-consumer platform. “We take pride in our ability to create products and experiences that honor cultural moments and inspire humankind,” said Nick Karamanos, SVP Entertainment Partnerships at Mattel.

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