Mattel to wind down its Hot Wheels Virtual Garage NFTs

Users’ hot wheel NFT collections and the Mattel Digital Collectibles Marketplace will continue operating as usual through 2025, while the company evaluates what to do next.

Toymaking giant Mattel is putting the brakes on its Hot Wheels Virtual Garage non-fungible tokens, pending a decision on the collection’s future.

There will be no future releases of any new NFT series or feature drops for the “foreseeable future,” Mattel said in an update on its website. The company said it will decide on the “long-term future” of Mattel digital collectibles.

“Your unwavering support and enthusiasm for the Hot Wheels Virtual Garage has been legendary, and we’re incredibly grateful to have been on this journey with you,” the company said.

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