WAX Partners With the Three Biggest Toy Companies in Mission to Take Over the NFT Market

By Juan Fajardo Juan Fajardo has been verified by Muck Rack's editorial team
Published on November 15, 2021

Wax, one of the leading NFT marketplaces, will be launching its Mattel Hot Wheels NFT Garage line later this week after having sold out its Funko and Hasbro exclusive drops.

The launch completes the trifecta WAX began with successful partnerships with Funko and Hasbro earlier this year and will help it consolidate its leadership in the NFT market. The Mattel Collection, which has more than 5,000 NFTs redeemable for real-life special edition die-cast cars, will be released as part of the vIRLs (virtual+In Real Life) collection. Andrew Chan, Head of Digital Gaming at Mattel, said about the collection:

“Collectors will have a chance to obtain exclusive physical die-casts vehicles and importantly, the NFTs will be minted on the sustainable WAX blockchain. The Hot Wheels design team chose 40 new designs for fans to continue to build their collections of Hot Wheels digital NFT artwork and physical die-cast vehicles!”

WAX was founded by William Quigley as a result of his love for collectibles during his pre-teens, which led him to take advantage of the potential of NFT technology to change how collectors interacted with their assets. After having partnered with Major League Baseball, fulfilling one of his childhood dreams, the company he founded is now celebrating the “hat trick” of partnering with the “big three” of the toy industry.

Other partnerships established by the company include well-known intellectual property including “SAW”, “The Princess Bride”, “Blade Runner”, and various Capcom titles. Quigley referred to the platform’s success by stating:

“As we innovate within the NFT space, WAX continues to align with incredible, iconic brands. To be entrusted by the ‘Big Three’ of the toy industries is not only gratifying but it validates what WAX as a company is trying to do. WAX is the trailblazer in NFT innovation and we are going big with global play and entertainment company, Hasbro to integrate one of their most iconic brands, Power Rangers, into the blockchain ecosystem”

Hasbro’s Power Rangers NFT drop collection was available for a limited time exclusively through Hasbro Pulse. It featured the iconic franchise that first swept through the American airwaves in the 1990s, quickly becoming a pop culture icon. Hasbro Pulse Premium members had exclusive access to purchase the collection on HasbroPulse.com, while supplies lasted.

Fans were also able to expand their collections with a Power Rangers NFT, uniquely transacted through the blockchain that can be redeemed for a special edition Dino Megazord. Kwamina Crankson, Vice President and General Manager at Hasbro Pulse, said about the drop:

“We were thrilled to partner with WAX to offer Hasbro’s first-ever NFT collection with the Power Rangers franchise. The WAX platform gives fans an easy entry point into the world of NFTs and digital collectibles.”

Funko, another company that has become one of the most popular among collectors, has been extremely active in the NFT space lately as they launched its Iron Maiden Digital POP collection, the first band to be immortalized as Digital POP characters. The partnership quickly became one of the most prolific for WAX by allowing it to reach a community that had previously remained untouched: Metal fans. Brian Mariotti, Chief Executive Officer at Funko, said about the importance of this milestone:

“Iron Maiden and Funko fans alike appreciate the creative genius in music and pop culture. Now, they can celebrate both in digital form.”

Funko has also released multiple collections based on iconic figures like Big Boy, the sensational Teenage Mutant Ninja Turtles (TMNT), and more. As a company focused on bringing pop culture to thousands of collectors, the opportunity to harvest the benefits of NFTs during its infancy is sure to keep it relevant.

Now, Hot Wheels fans around the world are getting ready to take advantage of the latest launch on November 16, 2021at 10 am Pacific / 1 pm Eastern. Select tokens will unlock access to real-world Hot Wheels products including the Twin Mill, Rodger Dodger, Mach Speeder, SS Camaro, and the Bone Shaker, the rarest of them all.

By Juan Fajardo Juan Fajardo has been verified by Muck Rack's editorial team

Juan Fajardo is a News Desk Editor at Grit Daily. He is a software developer, tech and blockchain enthusiast, and writer, areas in which he has contributed to several projects. A jack of all trades, he was born in Bogota, Colombia but currently lives in Argentina after having traveled extensively. Always with a new interest in mind and a passion for entrepreneurship, Juan is a news desk editor at Grit Daily where it covers everything related to the startup world.

Read more

More GD News