Mattel to Close its Hot Wheels Virtual Garage NFTs

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Toymaking giant Mattel is pausing its Hot Wheels Virtual Garage NFTs as it evaluates the collection’s future. No new NFT series or feature releases will occur “for the foreseeable future,” according to an update on Mattel’s website. The company is considering the “long-term future” of its digital collectibles.

“We are incredibly grateful for your unwavering support and enthusiasm for the Hot Wheels Virtual Garage,” the company stated. “As we assess the changing landscape of virtual collectibles, we’ve decided to end our Series and Feature Drops in 2025 and beyond.”

Meanwhile, users can continue to engage with their Hot Wheels NFT collections, the Mattel Digital Collectibles Marketplace, and the community Discord through at least 2025. Collectors can still buy, sell, and trade their NFTs on the platform, and existing redemptions will be honored.

Currently, transferring NFTs to other wallets or marketplaces isn’t available, but Mattel is exploring options for this feature. “We are developing a long-term plan for Virtual Collectibles and will keep the community updated,” the company added.