Hot Wheels fans will soon get a chance to own their favorite toy cars as NFTs.
Mattel is auctioning off non-fungible tokens — unique digital assets that rely on blockchain technology that’s similar to what’s used for Bitcoin transactions — of its iconic cars on its Mattel Creations web site.
The digital art features the Twin Mill, Deora II and Bone Shaker models that are part of the Hot Wheels NFT Garage Series, with starting bids at 99 cents.
“Mattel Creations is the perfect platform for us to present limited edition collector products that speak to our incredible fan base as well as attract new fans to our vast portfolio of pop culture brands,” president and chief operating officer, Richard Dickson said in a statement.
The toymaker, which also makes Barbie, said it will launch more NFTs of its famous brands later this year.
The digital art featuring part of the Hot Wheels NFT Garage Series will accept starting bids at 99 cents.
Mattel will be providing three unique NFTs from its Hot Wheels NFT Garage series.
The series will feature three vehicles from Hot Wheels’ greatly desired “The First Editions” collection. The three cars that have best exemplified the Hot Wheels DNA – the Twin Mill, Bone Shaker and Deora II – will soon be available as digital collectibles on the non-fungible tokens’ market. Hot Wheels NFT Garage will be the debut series through Mattel Creations but overtime, Mattel plans to continue to expand the toy space with new digital toy creations in its NFT portfolio.
Hot Wheels NFT Garage series of “The First Editions” vehicle collections will be available for auction starting June 22, 9 a.m. PST and will run until June 29, 9 a.m. PST exclusively on Mattel Creations. Mattel wil be allowing cryptocurrency transactions, specifically in the form of Ethereum for this auction.
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