Mattel leverages WAX as it continues to transform into an IP-driven company by adding Barbie NFT’s

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A NFT (non-fungible token) is one of the ways Mattel hopes to add value to its impressive brands and intellectual property. In 2021, Hot Wheels launched NFTs on the Wax (WAXP) Blockchain. The popular Vee Friends was also used in an UNO  NFT collection released earlier by Mattel.  

The year 2021 saw NFTs from companies such as PepsiCo, Inc. (NYSE:PEP), Hasbro, Inc. (NASDAQ:HAS) and Anheuser-Busch Inbev, SA (NYSE:BUD). Also on the 2021 NFT list was toy company Mattel Inc (NASDAQ:MAT), which is back at it in 2022 with another NFT launch.

What Happened: Mattel-owned brand Barbie partnered with French high fashion house Balmain for a new line of 50 Barbie-inspired clothes and accessories. Along with the new fashion line aimed at grown-ups, Mattel partnered with mintNFT for several NFTs.

“Our NFT auction features three unique Barbie and Ken avatars wearing exclusive pieces from the Balmain x Barbie collection,” the company said of its three one-of-one NFTs that will be auctioned off beginning Jan. 11.

Winning bidders will win the NFT and also a doll-size physical version of the Barbie and outfit.

The first 5,000 people to sign up for a virtual panel from mintNFT and Mattel will receive a free Balmain x Barbie collection NFT with no wallet required.

Related Link: Hot Wheels NFTs Launching In November: What Investors And Collectors Should Know 

Why It’s Important: Mattel owns a portfolio of many well-known brands including Hot Wheels, Barbie, UNO, Fisher-Price and American Girl.

“Mattel is committed to creating long-term shareholder value by executing its strategy to transform into an IP-driven, high performing toy company,” Mattel says on its website.

As other brands look to grow their presence in the NFT space, Mattel is one of several companies with a head start that could quickly become an NFT stock to watch in 2022.

Price Action: Mattel shares were up 22.5% in 2021, a nice rebound from prior years. Mattel shares are down 28% over the last five years and down 22% over the last 10 years.

Rival Hasbro shares are up 23% in the last five years and up 217% over the last 10 years.

Photo: Courtesy Mattel

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