What are Mattel NFTS?

On Tuesday, the toymaker will offer three pieces of digital art in the form of nonfungible tokens, or NFTs, for auction on its Mattel Creations website as part of its Hot Wheels NFT Garage Series. The one-of-a-kind works will feature classic cars from its archive: Twin Mill, Bone Shaker and Deora II.

Will Mattel launch Hot Wheels NFT?

Mattel to launch Hot Wheels NFT. Mattel is planning to take advantage of the latest cryptocurrency craze by auctioning its first digital art pieces featuring its Hot Wheels vehicles.

How do NFTS work?

“We need to be on top of current conversations.” On Monday, CNN also got into the NFT game, announcing that it would sell digital moments from its television archives in a series called Vault by CNN. NFTs rely on blockchain technology, similar to the computer code that makes many cryptocurrencies possible.

What is the new NFT marketplace?

The new NFT marketplace was made for "mainstream consumers" and "will not require users to own cryptocurrency to make purchases," according to a company press release. The marketplace also plans to integrate a "peer-to-peer trading platform that will allow collectors to trade their digital collectibles between them" by early 2023.