Barbie is now an NFT

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Barbie, the iconic plastic doll that lives in hundreds of millions of kids' toy collections is now also an NFT.

What the heck? Has Barbie's maker, Mattel, completely forgotten who their target audience is?

Not so fast! Like any iconic brand and product, Barbie has evolved in the last couple of years to somewhat of a collector's item. Vintage barbies are scoring record prices, and Mattel has tapped into the market by releasing high-end barbie versions in collaboration with fashion brand KITH, which were sold for hundreds of dollars each.

Makes sense now? Every luxury and collectible item brand these days is trying to get into the well-funded crypto space. And so Barbie was reborn as an NFT collection designed by French luxury brand Balmain, who provided the digital clothing which looks like something you'd otherwise only expect at a fashion show.

And of course: People paid tens of thousands for those. We've come far from Barbie just being a normal toy.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.