Mattel Taps Mastercard To Allow Direct NFT Purchase On “Cryptoys” NFT Marketplace

The NFT space experiences a series of bullish activities, including a multi-year partnership between Mattel and Mastercard to enable cardholders to purchase digital collectibles directly with their card on the NFT marketplace, Cryptoys.

Many financial institutions, brands, and investors remain bullish about the non-fungible token (NFT) market despite the current crypto winter that has left many NFTs shedding their floors prices by more than 80% in just a few weeks.

Other nifty news that made headlines this week included Kraft Food’s successful trademark NFT applications with the United States Patent and Trademark Office (USPTO) and the reuniting of Actor Seth Green with his stolen BAYC NFT, among others.

Mattel Inks Multi-year Deal With “Cryptoys” NFT Marketplace

Mattel, a prominent toy brand, recently announced that it had successfully partnered with the NFT marketplace “Cryptoys” to turn its brands, such as Barbie and Hot Wheels, into playable NFTs in the Metaverse.

While commenting about the new integration, Richard Dickson, the toy company’s president, stated that he believes there are more opportunities for toy brands within the Metaverse. The NFT marketplace has teamed up with OnChain Studios to create Cryptoy Metaverse, among other gameplays.

According to reliable sources, the Studio anticipates launching the Cryptoys NFT marketplace on top of Flows’ blockchain in the summer of 2022. Previously, Mattel partnered with the Wax blockchain network to unleash the Hot Wheels NFT collection in 2021.

Earlier this week, Mattel announced a successful partnership with financial service provider Mastercard to allow more than 2.9 billion cardholders to make direct digital collectible purchases on the Cryptoys marketplace.

In several instances, the finance giant has inked similar partnerships with various leading NFT marketplaces, including The Sandbox, Mintable, Spring, and NFT Gateway, to facilitate direct NFT purchases. Moreover, MasterCard partnered with MoonPay to offer crypto on and off-ramp services.

Apocalyptic Ape Founder Outlined More NFT Use Cases

In an exclusive short interview this week, Bill Starkov, the founder of Apocalyptic Apes and a member of BAYC, outlined more non-fungible token (NFTs) use cases to generate revenue.

According to Starkov, holders can leverage NFTs to open up more revenue avenues using digital collectibles, apart from flipping trading, such as licensing of the intellectual property rights of NFTs.

During the interview, Starkov explained how BAYC holders would generate revenue from licensing their Apes for commercial use. Similarly, the Apocalyptic Ape executive noted that other collectibles would also follow that trend. However, he said that people must wait until the project behind their NFTs matures.

NFT Prices Tumbles Amid the Current Bearish Market

The continuing bearish crypto market worsened this week, making many floor prices of prominent NFT collections such as BAYC and CryptoPunks take a nosedive. Bored Ape Yacht Club (BAYC) NFTs have gone from their all-time high of 153.7 (ETH) to 74 ETH. CryptoPunks fell from its all-time prices of 123 ETH to 48 ETH.

The recent drop in NFT prices appears following a panic sell-off within the broader crypto market. Before the market crash, Yuga Labs co-founder, Gordon Goner, warned against a possible phishing attack on its social media accounts.

More Nifty News

Manufacturing company Kraft Foods Group recently filled NFT and Metaverse patents with the United States Patent and Trademark Office (USPTO) for Kraft, Jell-O, Kool-Aid, and other brands under its umbrella. Elsewhere, Seth Green retrieved his stolen NFT. The actor paid 165 ETH to buy back the NFT.