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Barbie X Balmain NFTs Coming: How NFTs Could Strengthen Mattel’s Plan to Be an IP-Driven Company

The year 2021 saw NFTs from companies such as PepsiCo, Inc. (NYSE:PEP), Hasbro, Inc. (NASDAQ:HAS) and Anheuser-Busch Inbev, SA (NYSE:BUD). Also on the 2021 NFT list was toy company Mattel Inc (NASDAQ:MAT), which is back at it in 2022 with another NFT launch.

What Happened: Mattel-owned brand Barbie partnered with French high fashion house Balmain for a new line of 50 Barbie-inspired clothes and accessories. Along with the new fashion line aimed at grown-ups, Mattel partnered with mintNFT for several NFTs.

“Our NFT auction features three unique Barbie and Ken avatars wearing exclusive pieces from the Balmain x Barbie collection,” the company said of its three one-of-one NFTs that will be auctioned off beginning Jan. 11.

Winning bidders will win the NFT and also a doll-size physical version of the Barbie and outfit.

The first 5,000 people to sign up for a virtual panel from mintNFT and Mattel will receive a free Balmain x Barbie collection NFT with no wallet required.

Related Link: Hot Wheels NFTs Launching In November: What Investors And Collectors Should Know 

Why It’s Important: Mattel owns a portfolio of many well-known brands including Hot Wheels, Barbie, UNO, Fisher-Price and American Girl.

“Mattel is committed to creating long-term shareholder value by executing its strategy to transform into an IP-driven, high performing toy company,” Mattel says on its website.

One of the ways the company may bring value to its intellectual property is by launching non-fungible tokens. The company partnered with the Wax Blockchain in 2021 to launch Hot Wheels NFTs. Mattel also launched a version of UNO that featured the popular NFT collection Vee Friends.

As other brands look to grow their presence in the NFT space, Mattel is one of several companies with a head start that could quickly become an NFT stock to watch in 2022.

Price Action: Mattel shares were up 22.5% in 2021, a nice rebound from prior years. Mattel shares are down 28% over the last five years and down 22% over the last 10 years.

Rival Hasbro shares are up 23% in the last five years and up 217% over the last 10 years.

Photo: Courtesy Mattel

Original Article: benzinga.com

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