But I think the huge tailwind here is nostalgia. Mattel has done a terrific job of brand stewardship, staying relevant over the decades with Tesla Hot Wheels, plus-sized Barbies, and more. This original line of Hot Wheels is affectionately dubbed as the “ Sweet 16“, and they’re the most valuable Hot Wheels out there.īut Hot Wheels cars are no longer just fun to play with - they’re a serious collector’s item. Sixteen models of cars were released in 1968, each with varying colors, interior designs and modifications. And so, Hot Wheels was born with the help of engineers, car designers, rocket scientists, and even Handler’s son. Handler’s idea was to create a competitor like Matchbox, except “cool.” The idea was these cars would be more like hot rods and fantasy vehicles, with flaming paint-jobs, outrageous proportions, and hefty superchargers.
Fresh off the success of the Barbie doll, Mattel’s founders wanted to create another big winner, but this time for boys.Įlliot Handler, Mattel’s co-founder, stumbled across the idea for Hot Wheels when he saw his son playing with a Matchbox car - an earlier, lamer version of Hot Wheels. Hot Wheels have been delighting kids for what seems like forever - 53 years to be exact. Those are the toys I remember most from childhood. Star Trek owner ViacomCBS is using the RECUR platform.Hot Wheels, LEGOs, and GI Joe. Although DC Comics also recently provided NFTs as rewards for one of its events on the Palm platform. The VeVe platform is host to both Spiderman owner Marvel and Batman and Superman owner DC Comics. Meanwhile, other entertainment brands have also launched NFTs. Through the partnership with WAX, potential customers have to create a digital wallet ahead of the launch. Collectors will have a chance to obtain exclusive physical die-casts vehicles and importantly, the NFTs will be minted on the sustainable WAX blockchain,” said Andrew Chan, Head of Digital Gaming at Mattel. “Hot Wheels is excited to offer limited, unique and sustainable NFTs with our latest Garage of Legends series. Blurring the lines between physical and digital collections and welcoming a traditional element into the launch is likely to invite and entertain both existing and new collectors. There will be four levels of scarcity, and over 5000 NFTs will be redeemable for a physical version of exclusive Hot Wheels, each collector having around a 5% chance of landing on a special vIRL (virtual + In Real Life) token. The products will include packs of four or ten NFTs featuring an animated iconic design of the brand’s cars. In addition, the starting price is affordable enough to give most collectors a chance to participate and try to acquire one NFT. NFTs provide transparency about the number of NFTs minted and provided one’s careful about scams, there should be little question about whether the collectible is legitimate or not. It is hard to tell whether traditional collectors will attach a similar value to NFTs as they do to physical assets, but it will likely attract new collectors.
While Mattel’s general target audience is children, it seems that this NFT launch is more focused on attracting Hot Wheels collectors. Many antique Hot Wheels can sell for thousands of dollars. Mattel even has a dedicated “ Collectors” website and a destination for Hot Wheels hardcore fans. Some designs were launched in exclusive partnership with other popular brands, and some are so rare collectors believe they were launched just for display purposes.
#Hot wheels collection series
The series of each toy car varies in scarcity. It launched in 1968 with a collection of 16 cars, most of which are amongst the most valuable Hot Wheels today. The project will mint 40 different types of Hot Wheels and commercialize them at the starting price of $15 from November 16th.ĭespite being a toy-like product, Hot Wheels is also a very collectible brand. Leading toy company Mattel has signed a partnership with WAX blockchain to launch non-fungible tokens ( NFTs) of its Hot Wheels Garage brand.
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