TechFlow news, May 5 — According to Mattel's official website, the toy manufacturer Mattel will pause the release of its Hot Wheels Virtual Garage non-fungible token (NFT) series.
The company stated that no new NFT collections or feature updates will be released in the foreseeable future. Existing Hot Wheels NFT collections, the Mattel Digital Collectibles Marketplace, community Discord, and related channels will continue normal operations at least until 2025. Users can still buy, sell, and trade NFTs on the Mattel Digital Collectibles Marketplace, and current and pending redemptions will be honored as promised.
Currently, users are unable to transfer these NFTs to other wallets or marketplaces. Mattel said it is exploring the possibility of enabling this functionality. Since its initial launch in November 2021, the Hot Wheels NFT Garage has released ten collections, with the most recent one launched in December last year.
