Mattel will launch a new Marketplace for its Hot Wheels NFT collection

The Hot Wheels NFT collection is currently on the WAX blockchain and will move to Flow with the launch of the marketplace.

Mattel has announced the launch of a dedicated NFT platform, which is going by the name “Mattel Creations” and will debut with the launch of the fourth version of the Hot Wheels-based non-fungible token collection.

Hot Wheels NFT collection is one of the best performings.

Hot Wheels’ NFT collection, called Pedal to the Metal has been on the market for a period and is considered to be the best-performing non-fungible token collection on WAX, the blockchain on which the compilation was originally thrown.

However, when the collection launches on “Mattel Creations,” the collection will migrate to Flow, the blockchain selected by Mattel for its NFT platform. The launch of the new “Mattel Creations” platform will mark the fourth release of the compilation and, based on the performance of previous releases, is expected to serve as a backup to the platform launch.

Mattel’s platform seeks to host new brands

The prime candidate for a collection is Barbie, which has had an NFT collection in the past, as part of a tie-up between the toy brand and fashion house Balmain.

With the launch of the Hot Wheels collection, the toymaker hit the table ahead of its participants in the digital asset lot.

Currently, the Hot Wheels collection is still in the top 3 by sales volume on the WAX blockchain, so the move to its own NFT marketplace may be quite beneficial for the brand.