According to Deep Tide TechFlow news on May 5, Mattel, the toy manufacturer, announced on its official website that it will suspend the issuance of its Hot Wheels Virtual Garage NFT series.
The company stated that no new NFT series or feature updates will be released in the foreseeable future. Existing Hot Wheels NFT collectibles, the Mattel digital collectibles marketplace, community Discord, and other channels will continue to operate normally at least until 2025. Users can still buy and sell NFTs on the Mattel digital collectibles marketplace, and existing and unfinished redemptions will be fulfilled as promised.
Currently, users cannot transfer these NFTs to other wallets or trading markets. Mattel has stated that it is exploring the possibility of opening this feature. Since its initial release in November 2021, the Hot Wheels NFT Garage has launched ten series, with the latest edition released last December.
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