The company Mattel has announced the suspension of the development of the NFT project Hot Wheels Virtual Garage: new series and drops will no longer be released. Collections already purchased, the Mattel Digital Collectibles marketplace, and the community on Discord will continue to operate at least until the end of 2025, and all promised rewards will be fulfilled.
Amid the decline of the NFT market and the departure of other major brands such as Nike, Mattel stated the need to reassess its strategy in digital collectible assets and develop a long-term plan. However, users still cannot transfer their tokens to other wallets or marketplaces, although the company is exploring this possibility.
