Because they’re convenient, authentic and inter-operable, NFTs have permeated all aspects of modern life. NFTs have promoted interaction, allowing them to leverage the success of others NFTs and make it possible for physical goods to be exchanged and verified.

The evidence that the toy market is growing has been shown by the fact that NFTs are being integrated into toymakers’ businesses. This shows that they also appreciate the market. It is clear that this collaboration has been ongoing between the Worldwide Asset eXchange, Mattel (NASDAQ:), and Hasbro (NASDAQ:). These collaborations have allowed toy companies like Mattel (NASDAQ) and Funko (NASDAQ), to develop and issue collectibles via the WAX NFT Market.

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To establish strong positions in the highly regulated collectibles market, the three companies built on the platform’s proprietary vIRL tech. Lee Jenkins is WAX’s product manger and is very excited by this achievement. He believes that vIRL NFTs will be the future of commerce. WAX is seeing widespread adoption for this innovative technology.

As the three companies are in different stages of their product launches, the blockchain has supported the creation of their NFTs by the toymakers. Mattel, for instance, issued its Hot Wheels Garage NFTs in November 16th from Jay Leno’s garage. This collection contains 97,200 NFTs and comes in four varieties. Next comes the Base NFTs, then the Rare type. The last tier is the Premium or Treasure Hunt NFTs. Premium and Treasure Hunt NFT holders have the option to swap their vIRL with a non-fictitious, diecast collectible. Hasbro launched an exclusive edition NFT in October. This event was live at its Hasbro Pulse Site. Over 4000 digital assets were available for fans to choose from, with the option to be redeemed by holders to get actual numbers.

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