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The global cryptocurrency market cap now stands at $1.04T, down by -5.62% over the last day, according to CoinMarketCap data.Bitcoin (BTC) has been trading between $25,456 and $26,783 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $25,621, down by -3.67%.Most major cryptocurrencies by market cap are trading lower. Market outperformers include PAXG, NEXO, and WBTC, up by -1%, -3%, and -3%, respectively.Top stories of the day:3 Transitions Ethereum Needs to Make: Vitalik ButerinAvalanche Arcad3; the New Era of Web3 GamingBinance Prepares to Embrace Europe’s New Regulatory Certainty, MiCABitcoin Records Gains; Pepe Emerges As Top GainerBinance VP of Marketing: Crypto Needs to 'Double Down' on Community SupportCardano Developer Rejects SEC Claim Its ADA Token Is a SecurityHut 8 Says Repairs to Damaged Crypto Mining Equipment Are Taking Longer Than ExpectedMarket movers:ETH: $1735.63 (-5.76%)BNB: $237.9 (-8.15%)XRP: $0.4898 (-7.09%)ADA: $0.2398 (-23.90%)DOGE: $0.05969 (-12.23%)TRX: $0.06765 (-12.70%)SOL: $14.6 (-22.13%)LTC: $75.98 (-13.63%)MATIC: $0.5791 (-25.79%)DOT: $4.419 (-11.80%)Top gainers on Binance:PAXG/BUSD (+-1%)NEXO/BUSD (+-3%)WBTC/BUSD (+-3%)

Global toy company Mattel has launched its own non-fungible token (NFT) marketplace on Mattel Creations, the company's direct-to-consumer platform, expanding its lineup of digital collectibles from its portfolio of iconic brands. The California-based entertainment conglomerate produces goods like dolls, games and action figures, and owns the intellectual property (IP) rights to brands like Barbie, Hot Wheels, Matchbox, UNO, Fisher-Price and more. So far, it has released NFT collections for its Barbie and Hot Wheels franchises. The Mattel Creations Digital Collectibles Marketplace is built on the Flow blockchain, which also powers the NBA Top Shot platform. 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. The first launch on the Mattel Creations Digital Collectibles Marketplace will be Series 4 of the Hot Wheels NFT Garage, which will comprise of artwork featuring 60 cars from brands like McLaren, Aston Martin and more. Each pack, priced at $25 each, includes seven hot wheels NFTs of varying rarity levels, with the rarest collectibles redeemable for physical die-cast replicas. Ron Friedman, Vice President at Mattel Future Lab, said in a statement that the development of a homegrown NFT platform will also the company "to translate iconic Mattel IP (intellectual property) into digital art." Hinting at future releases with the company's roster of toy brands, Friedman said: "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.” Mattel joins a growing number of physical collectible companies expanding into digital collectibles. In September, pop culture retail brand Funko released a physical and digital comic book collectible on the WAX blockchain. In addition, Marvel has teamed up with licensed NFT marketplace Veve to make its comic books viewable in augmented reality, while gaming powerhouse Hasbro has released a collection of Power Rangers NFTs that could be redeemed for a limited-edition action figure.

Toy manufacturer Mattel is doubling down on their NFT pursuits, announcing the launch of NFTs on a new dedicated platform, ‘Mattel Creations,’ this week. In a press release obtained by Bitcoinist on Monday, Mattel shared their new platform pursuits, which are expected to be headed by the latest series of the toy company’s Hot Wheels NFTs.Let’s take a quick look at what this latest announcement from Mattel is all about, it’s new blockchain of choice, and what to expect looking ahead.Hot Wheels NFTs: Pedal To The MetalHot Wheels NFTs have been one of the most successful NFT projects to operate on the WAX blockchain, but once Mattel Creations formally launches it’s NFT support (which is anticipated in early 2023), it’ll no longer be the blockchain of choice for Mattel and it’s Hot Wheels NFTs. The signature toy is heading into it’s fourth series of NFT releases, and the new platform is a bull signal for NFT fanatics, reflecting a continued and vested interested in NFTs for the toy brand that bodes well for blockchain based collectibles moving forward.In the meantime, Mattel Creations is already underway, albeit not with NFT support. Creations brings to life a ‘toys as art’ inspiration, and digital goods will continue to supplement that. Previously, Hot Wheels NFTs have generally sold in packs priced at $25, including a voucher for a physical Hot Wheels car, and have typically sold out quickly. Creations is also host to a bevy of the toymaker’s culture-first collaborations, which will also be ripe for NFT engagement.Flow blockchain (FLOW) has found a big winner with Mattel, who is departing the WAX blockchain to move their dedicated platform on Flow. | Source: FLOW:USD on TradingView.com More From Mattel As successful as Hot Wheels releases have been, expect more IP from the legacy toy brand to potentially hit their NFT marketplace last year. The most likely candidate is Barbie, who has seen an NFT release previously, as part of a collaboration with fashion house Balmain.In the big picture, Mattel has arguably hit a home run when it comes to introductory NFT strategy among brands. According to data provided from WAXMarketCap and CryptoSlam, Mattel’s Hot Wheels releases have been a hit, yielding north of $5M worth of NFT sales on the chain across over 20,000 users. Additionally, Hot Wheels has sustained relevance on the chain and still sits in the top 3 among volume over the past 30 days on WAX. It’ll be a major win for both Flow and Mattel to move to a dedicated platform.Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.