Earlier this year, Mattel Creations took your favorite die-cast cars to a new frontier with the launch of the Hot Wheels NFT Garage! The collection kicked off with an auction of three 1-of-1 collectibles: "The First Editions," featuring the Twin Mill, Deora II, and Bone Shaker.
Now, we're about to break the gates wide open and make NFTs available to fans around the world. Series I of the Hot Wheels NFT Garage debuts on November 16, 2021. It's Hot Wheels like you've never seen it before!
Hot Wheels collectors had questions about NFTs when we released The First Editions, so before we dive into what's coming in Series I, let's share some answers.
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.
(Got more questions? Check out the FAQs section at the end of this article.)
Introducing the Hot Wheels NFT Garage: Series I
Think of it as the ultimate peg wall! Over the years, Hot Wheels has released more than 20,000 unique die-cast models. Now, and over time, these models will be enshrined in the Hot Wheels NFT Garage. The collection begins with Series I, which includes 15,000 NFT packs.
These Hot Wheels NFTs will be available in affordably priced packs of 4 cars ($15 each) and 10 cars ($35 each), with each pack featuring highly collectible and unique designs. Series I features 29 castings, with deco variations raising the total to 40 releases in four rarities: Base, Rare, Premium, and Treasure Hunt (NFTH). The cars you find in a given pack may be from any of these rarities, though some NFTs are harder to find than others.
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
You can find more details about owning and managing a Hot Wheels NFT Garage collection below. But first, check out a sample of what Series I has to offer!
Additional FAQs About Hot Wheels NFTs
How do I get ready to buy Hot Wheels NFT packs?
Before you're ready to buy a Hot Wheels NFT pack, you'll need to open an account on WAX and link a credit card to your WAX account.
What is WAX?
WAX (Worldwide Asset eXchange™) is the most used and transacted blockchain ecosystem in the world for NFTs, decentralized applications (dApps), and video games. This platform provides the safest and most convenient way to create, buy, sell, and trade both virtual and physical items, with anyone and anywhere in the world.
What are the steps to buy a Hot Wheels NFT Pack?
In general:
- Sign up for a free WAX Cloud Wallet account. Need help? Check out the WAX setup tutorial on YouTube.
- Once your WAX account is set up, just go to the link we provide for the drop page.
- You'll use the credit card linked to your WAX account for your drop purchase – no cryptocurrency is required for any initial drop purchases.
- Manage your NFT purchases directly within your WAX account.
For the Hot Wheels NFT Garage Series I drop on November 16, 2021:
- Starting October 28, WAX will offer a free sticker drop so you'll know your account and wallet are working and ready for the drop.
- On November 16, starting at 10am PT, go to hotwheels.cards and buy the NFT packs!
What are the different rarities of the Hot Wheels NFT Garage Series 1 NFTs?
In total, there will be 97,200 individually numbered NFT cards for fans and collectors to own and trade in Series I.
Here's a breakdown of the four rarity types, and how they total up to the 97,200 NFT cards in Series I. The Premium and NFTH rarities are vIRLs (virtual + In Real Life), which means they also come with a token to redeem for a physical die-cast version of the car depicted on the NFT card.
One of my NFTs is a Premium or Treasure Hunt (NFTH) card! How do I get the physical die-cast version of the car?
Congratulations! Because selling and trading play a frequent part in the NFT experience, the person who owns the Premium or Treasure Hunt NFT as of 12:00pm PT March 16, 2022 will automatically have a Redemption Coin transferred to their WAX wallet which will be redeemable for 30 days for a physical limited-edition die-cast collectible. International restrictions may apply; shipping not included.
Please note: The Redemption Coin will be deposited into the account of the current owner of the Hot Wheels NFT car on the applicable date (which may not be not the original buyer). If you sell or trade a redeemable Hot Wheels NFT, the Redemption Coin will be deposited into the wallet of whoever holds the Hot Wheels NFT as of 12:00pm PT March 16, 2022.
Only one (1) Redemption Coin will be issued per redeemable Hot Wheels NFT car. Once a Redemption Coin is deposited into your WAX wallet, you will have 30 days to redeem it for your physical car. Redeeming a Redemption Coin "burns" the coin and it will no longer be in your wallet.
How long will it take to get my die-cast car once I redeem my coupon?
It depends on the shipping method you choose. Learn more about our shipping options.
Can I have the die-cast car shipped internationally?
Learn more about international shipping policies and rates.
How will I track and manage my collection?
You can find a variety of NFT collecting apps for this purpose on the iOS App Store and Google Play for Android. These apps can be linked to your WAX account, and allow you to track and manage your collection within the NFT collecting app.
How do Hot Wheels NFTs affect the environment?
Like all Mattel’s work towards achieving our 2030 sustainability goals, we're working across the company to identify ways to reach this goal as quickly as possible. That is why Hot Wheels is partnering with WAX, the only carbon neutral NFT blockchain on the market. WAX is 222,000 times more energy efficient than Bitcoin (BTC) and Etheruem (ETH). In fact, one WAX transaction just uses roughly about as much energy as the simple act of turning a lightbulb on or off.
Items and dates subject to change. Production items may vary from the photos shown. Mattel reserves the right to modify the color, decorations, scale, body, and wheel type. Product subject to availability.
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