Hot Wheels jumps into the NFT game

  • Hot Wheels will jump into the NFT world with limited-edition versions of Twin Mill, Bone Shaker, and Deora II.
  • These limited edition cars will exist in your digital garage called Hot Wheels NFT Garage.
  • These first-edition cars will go on auction on June 22 at 12 p.m. ET (9 a.m. PT) and will last for a week, with Ethereum cryptocurrency as the exclusive payment option.

    Hot Wheels is no stranger to digital versions of its legendary toy line, churning out more fantastic video games than you might remember. While most of the brand’s digital ads are game-related, this one is not: Hot Wheels is now getting into the NFT game. Now you can own and trade limited edition digital facsimiles of your favorite Hot Wheels machines.

    If you thought Hot Wheels would approach the growing NFT trend cheekily, perhaps releasing a line of physical cars poking fun at this new technology, you thought wrong. This is an honest take on NFTs that will give you digital versions of some of Hot Wheel’s most beloved cars.

    If you don’t understand NFTs, you’re probably not alone. The acronym stands for Non-Fungible Token, basically a piece of digital content that you own that retains the creator’s information. Most of these NFTs use cryptocurrency, a decentralized digital currency that offers some discretion to the spendthrift, although you probably don’t need to discreetly purchase these digital Hot Wheels.

    Now that you know about the future of buying, selling and trading assets, what exactly is Hot Wheels turning into digital toys? Kicking off this collection are Twin Mill, Bone Shaker, and Deora II, but getting them won’t be as easy to get as the physical Hot Wheels toys you buy on the local market. These will be auctioned, here, on June 22 at 9 a.m. Pacific (12 p.m. Eastern). The auction will last for a week, which should give you plenty of time to find out even more about NFTs. Mattel only accepts Ethereum, so you should probably know more.

    It might sound unorthodox to mainstream collectors, but the NFT craze is gaining a ton of traction. This year, a Lebron James NFT trading card sold for $208,000. It’s a lot. It also means that these collectibles can get extremely expensive. That said, always be mindful of how you spend your precious stock money.

    Do you think you will ever own a Hot Wheels NFT, or do you plan to stick with physical versions? Let us know your thoughts below.

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