Mattel Gains New Revenue Source From Hot Wheels NFT Collection

Mattel entered the NFT arena with its own digital NFT Hot Wheels collection.The NFT drop was a huge success with the packs selling out within the hour.Hot Wheels NFT packs and ultra-rare cards quickly gained in value on the secondary NFT marketplaces.Mattel recently reported some of its highest quarterly revenues to date and its stock price has been on a one-year uptrend with gains of 50%.I rate the stock as neutral for now and recommend that investors watch the company and the NFT collectables market.