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Mattel is getting into movies, gaming, and NFTs to reach the next generation of families.

Feb 24 2022

Mattel is getting into movies, gaming, and NFTs to reach the next generation of families. The toymaker has grown a lot in its 77 years of existence and while it temporarily hit some roadblocks during the pandemic, the company is currently on “stronger financial footing” after reducing debt. While Mattel has partnered with brands like General Mills, L’Oreal, and Nike to produce limited-edition products in the past, they plan to “delve deeper” into this market going forward, while also looking at opportunities to have “immersive brand experiences” at retail locations. However, to generate more enthusiasm for their classic toys like Barbie, Hot Wheels, and Uno, the company is expanding its presence into gaming and filmmaking. They already have mobile games based on Uno and Phase 10, racing video game Hot Wheels Unleashed, and they’ve dabbled in NFTs as well. Hot Wheels was the “first major toy brand” to expand into the world of NFTs, with both collections selling out almost immediately. We told you that Mattel already has several movies in the works based on some of their most popular toys—and according to CEO Ynon Kreiz: “We know that if this project is successful, good things will happen. We will also sell more toys, but it’s not the initial goal. We want to make great experiences and content that people want to watch.” (CNBC)