Posted on Leave a comment

Mattel Partners with WAX to Release Hot Wheels NFT Garage – Series 1

boneshaker

Mattel announced today the launch of Hot Wheels NFT Garage – Series 1 to bring Hot Wheels fans a new way to add to their collection, in partnership with The Worldwide Asset eXchange (WAX). The Hot Wheels NFT Garage continues to grow with the release of 40 new NFT Hot Wheels designs for fans and collectors alike on November 16. These digital collectibles are the newest way to take home valuable and rare digital artwork from Hot Wheels, while also offering fans the chance to own limited-edition real-life die-cast vehicles when they collect select NFTs. The Hot Wheels NFTs will be released globally starting at the affordable price of $15 November 16, 2021.“As we innovate within the NFT space, WAX continues to align with incredible, iconic brands”

Hobbyists can collect some of the most incredible Hot Wheels designs to date, inspired by the same brilliant designers behind iconic Hot Wheels die-casts. The NFTs, which feature a range of digital vehicles with exclusive animated packaging, are available in standard 4-card and premium 10-card packs and consist of soon-to-be sought-after variations that will offer distinct designs ranging across four tiers: Base, Rare, Premium, and NFTH (Treasure Hunt).

More than 5,000 rarities in this release are redeemable for real-life special edition die-cast cars, as part of this vIRLs (virtual+In Real Life) collection. Select tokens will unlock access to real-world Hot Wheels products including the Twin Mill™, Rodger Dodger™, Mach Speeder™, SS Camaro and the Bone Shaker™ which is the rarest of them all. Collectors will have about a five-percent chance of acquiring any of the special vIRL NFTs.

Andrew Chan, Head of Digital Gaming at Mattel, said:

“Hot Wheels is excited to offer limited, unique and sustainable NFTs with our latest Garage of Legends series. Collectors will have a chance to obtain exclusive physical die-casts vehicles and importantly, the NFTs will be minted on the sustainable WAX blockchain. The Hot Wheels design team chose 40 new designs for fans to continue to build their collections of Hot Wheels digital NFT artwork and physical die-cast vehicles!”

William Quigley, Co-Founder of WAX, said:

“As we innovate within the NFT space, WAX continues to align with incredible, iconic brands. Hot Wheels and Mattel have proven to be a perfect partner to showcase the unique offering our vIRL technology provides for collectors.”

Ahead of the November release, fans can set up their WAX Cloud Wallet by heading over to wallet.wax.io to prepare to purchase the Hot Wheels NFTs. More details about the collection can be found on the official WAX Discord.

Series I also features something new for collectors: vIRLs. vIRLs are a type of NFT (virtual + In Real Life) that includes both digital and physical assets. Both the Premium and Treasure Hunt cars have this unique vIRL chase element, which includes exclusive die-cast versions of the cars on their NFTs!

You’ll have about a 1:20 chance to pull a vIRL car from a pack to get one of these real-life, special editions Hot Wheels die-cast cars:

  • Premium: ‘18 Camaro SS, Mach Speeder, Rodger Dodger, Twin Mill
  • Treasure Hunt: Bone Shaker

What’s an NFT?
NFT stands for “non-fungible token.” Breaking that down, “non-fungible” means that it’s unique – there’s nothing else like it out there. In the case of the Series I Hot Wheels NFT Garage, all NFT cards representing the same car are individually numbered, so each one has its own unique value. That makes it similar to Red Line Club cars, for example, which may be the same car but are individually stickered with their production number.

The “token” part of the phrase refers to the fact that it’s a digital asset instead of a physical one. Having an NFT allows you to own the original item and its built-in authentication, which serves as proof of ownership. A purchase from the Hot Wheels NFT Garage is a one-of-a-kind collectible – it’s special and rare, even as a digital file.

Is an NFT the same thing as cryptocurrency?
NFTs and cryptocurrency are generally built using the same type of programming, known as the blockchain, but they aren’t the same. Each NFT has a digital signature that makes it unique (non-fungible), like owning a piece of art. By contrast, physical money and cryptocurrencies are “fungible,” meaning they can be clearly valued and traded or exchanged for one another. For example, one dollar is always worth a dollar; one Bitcoin is always worth a Bitcoin.

Why is Hot Wheels creating NFTs?
It’s the latest way to own valuable and rare digital artwork from Hot Wheels, featuring some of our wildest and most outrageous car designs in a whole new format! These NFTs are pure Hot Wheels, developed by the same team behind iconic Hot Wheels die-casts. Whether it’s a physical car or a digital one, they know that cutting-edge designs and deco are the key to Hot Wheels’ appeal, no matter how they’re made.