The Tomyking Giant Mattel is putting the brakes in his non -fungible tokens of virtual garage of hot wheels, waiting for a decision about the future of the collection.
There will be no future versions of any new NFT series or falls of features for the “forecast,” Mattel said in an update on his website. The company said it will decide on the “long -term future” or Mattel’s digital collectibles.
“His unwavering support and enthusiasm for Hot Wheels Virtual Garage has been legendary, and we are incredible grateful to have been on this trip with you,” said the company.
“If we evaluate the changing world of the virtual collectibles, we have determined that the moment has come to finish our series and the falls of features in 2025 and Ontvard.”
According to Mattel, the hot wheel of the hot wheel of the users, the Mattel Digital Collectibles Marketplace, the community discord and other channels will continue to function as usual through at least 2025, according to Mattel.
The headlines can still buy, sell and exchange their NFT of hot wheels in the Mattel digital collectible market, while existing and pending redemptions will be “fulfilled as promised.”
However, there is no option to transfer NFT to other wallets or markets at this time. Mattel says he is exploring possible options around this function.
“We are developing a long -term plan for virtual collectibles and we will share updates with the community in the future,” said the company.
The Hot Wheels NFT Garage Series 7 and the Mattel Creations Virtual Market Place opens 12.7.2023. #Hotwheels pic.twitter.com/cidwt3qqc3
– Hot Wheels (@hot_wheels) November 30, 2023
Mattel launched the series one for his NFT Hot Wheels garage in November 2021 in association with Worldwide Asset Exchange. The last release, series 10, was held live in December last year.
Nike Sunsets his NFT, while FIFA doubles
Mattel is not the only company that yearns for its NFT services: sports shoes and the Nike Sunset clothing giant its NFT Marketplace RTFKT in January. Since then, the headlines have launched a lawsuit, claiming that Nike has captivated financial damage when closing the market.
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However, other continuous companies to support NFT holders. The FIFA, which launched its NFT collection before the 2023 Club World Cup, announced on April 30 that it was creating a new block chain compatible with Ethereum for its digital collectibles.
The NFT general market fell sharply in the first quarter of 2025, with a sales lunch 63% year after year, to $ 1.5 billion in total sales from January to March 2025, below the duration of $ 4.1 billion the same period in 2024.
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