Wow, what a crazy week in the metaverse. Mattel announced the launch of its NFT marketplace, demand for Madlands NFTs is going crazy, and metal trading is getting a facelift thanks to a new NFT project. Here’s what’s happening.
Mattel Launches NFT Marketplace
You know Mattel, the massive toymaker that owns brands like Hot Wheels, Barbie, and Fisher Price, has decided to flex its brand power in the NFT world. The company has done well with its Hot Wheels NFT collection, but it’s not stopping there.
Mattel announced that it’s moving forward with a dedicated NFT marketplace.
According to a recent press release, the company will open a peer-to-peer trading platform powered by Rarible. The company is also working with Magic to facilitate a smooth wallet experience.
Mattel also said that the release will come in tandem with the Series 5 release of “Hot Wheels NFT Garage.” This is a major step forward for Hot Wheels NFT stakeholders.
Madlands NFT Demand Is Bonkers
Madlands NFTs are some popular pieces of art. In fact, the Midlands collection is becoming so popular that it broke the internet.
In fact, the company behind the collection had to delay the launch by about 24 hours to solve a problem they didn’t expect to have. There was way too much internet traffic. As billions of requests routed through the crypto wallet and outpaced the platform’s abilities, a DDOS attack was triggered, resulting in a denial of service. Now that is some serious demand.
NFTs Change Metal Trading
Metal trading is nothing new. Investors have been trading silver, gold, and other precious and non-precious metals for some time now. However, the way these metals are trading could change ahead with a unique utility offered by an NFT collection.
Sparklo is tokenizing investments in gold, silver, and platinum. If all goes well, I could only imagine that other forms of metal investments will be tokenized.
The process is simple. When an investor makes a purchase, Sparklo mints a new NFT, representing the metals the investor bought. The system will also make it possible to purchase precious metals on a fractional basis.
We’ll See You Next Week
That’s all for this week my friends. We’ll see you next week for the latest and greatest in the NFT industry!