According to Cointelegraph, toy giant Mattel recently announced that it will pause the release of new series and feature updates for its "Hot Wheels Virtual Garage" Non-Fungible Token project to reassess its digital collectibles strategy.
Based on the statement on Mattel's official website, from 2025 and in the foreseeable future, no new Hot Wheels Non-Fungible Token series or related features will be launched. The company stated that this move is to respond to the "ever-changing world of virtual collectibles" and is planning the "long-term future" of Mattel's digital collectibles.
However, Mattel promised that during 2025, users' existing Hot Wheels Non-Fungible Token collections, the official "Mattel Digital Collectibles Marketplace" (which allows users to continue buying, selling, and trading owned Non-Fungible Tokens), and related community channels (such as Discord) will continue to operate normally. All previously promised exchanges will also be fulfilled. Currently, transferring these Non-Fungible Tokens to external wallets or other markets is not supported, but Mattel says it is exploring related solutions. The company will announce its long-term digital collectibles plan to the community in the future.
