Your Next Hot Wheels Collection Could Be NFTs

·2 min read
Photo credit: Hot Wheels
Photo credit: Hot Wheels
  • Hot Wheels will branch 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 dubbed Hot Wheels NFT Garage.

  • These first-edition cars will head to auction on June 22 at 12 p.m. ET (9 a.m. PT) and will run for a week, with the cryptocurrency Ethereum 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 announcements are related to gaming, this one isn’t: Hot Wheels is now jumping into the NFT game. You’ll now be able to 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, maybe by releasing a line of physical cars poking fun at this new technology, you thought wrong. This is an honest approach to NFTs that will net 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, which is effectively a piece of digital content that you own that still retains the creator’s information. Most of these NFTs use cryptocurrency, which is a decentralized digital currency that offers some discretion to the spender—though, you probably won’t need to discretely buy these digital Hot Wheels.

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

This might seem unorthodox for traditional collectors, but the NFT craze is gaining a ton of traction. This year, a Lebron James NFT trading card sold for $208,000. That’s a lot. That also means that these collector’s items can become wildly expensive. That said, always be mindful of how you spend your precious meme stock money.

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

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