Mattel, the iconic toy titan best known for legends like Barbie, Hot Wheels, and Fisher-Price is said to hit the “pause” button on their Hot Wheels Virtual Garage NFT drops until further notice.
According to a statement issued on the company’s website, on May 05, 2025, there are no new NFT’s planned for the foreseeable future, despite NFT trading volumes zooming past the $100 million weekly mark.
The last drop hit in December 2024, capping off ten series since the project’s 2021 launch.
“As we evaluate the changing world of virtual collectibles, we’ve decided it’s time to pump the brakes on new Series and Feature Drops,” the company shared in its official update.
Source: creations.mattel.com
However, Mattel’s not abandoning the digital playground entirely. “My Collection” hub and the Mattel Digital Collectibles Marketplace will continue to exist through 2025 at least. Fans can still view, trade, and enjoy their collections while Mattel rethinks the future of its digital collectibles game.
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Founded in 1945, Mattel is a leading global toy and entertainment company, known for owning iconic brands like Barbie, Hot Wheels, Fisher-Price, and American Girl. The multinational toy manufacturing and entertainment company produces a wide range of toys, content, consumer products, and digital experiences, aiming to inspire and entertain audiences and develop children through play.
Mattel entered the non-fungible token arena in 2021.