Mattel’s Hot Wheels says it will launch its “Garage Series Two” NFTs on March 31. Like Hot Wheels’ 2021 “Garage Series One” NFTs, the famed toymaker works with the WAX blockchain. Many features and rarity ratings in “Garage Series Two” mimic the highly successful “Garage Series One” collection.
Each NFT in “Garage Series Two” will feature a digital version of a Hot Wheels die-cast car model. NFT holders can also view detailed specs on the trading history and rarity rankings of each Hot Wheels car.
Hot Wheels created a new ultra-rare category called “Showroom” for its latest NFT drop. According to the official Hot Wheels website, the “Showroom” NFTs make up just 0.14 percent of the total collection.
Aside from the new “Showroom” NFTs, all of Hot Wheels’ previous rarity rankings are identical to those used in “Series One”. These categories include:
- Base: 78.16 percent chance
- Rare: 17.91 percent chance
- Premium: 3.25 percent chance
- Treasure hunt: 0.54 percent chance
As with “Series One”, people who collect a select number of NFTs can win a Hot Wheels physical toy.
Anyone with a WAX account can purchase a Hot Wheels “Garage Series Two” NFT package for $25 each. Each pack has seven mysterious NFTs and Hot Wheels says there are 26,321 packs to be won. So there will be 184,247 digital collectibles in Hot Wheels’ latest NFT drop.
Hot Wheels will open its “Series Two” NFTs for public sale on March 31 at 1:00 PM EST. Anyone interested in purchasing these new Hot Wheels NFTs can join the official queue on the Hot Wheels website. The toy company also says that collectors can resell their Hot Wheels NFTs in secondary markets such as:
Car companies are “racing” into the NFT market
It’s not just toy car makers like Hot Wheels that see potential in NFT technology. Many professional automakers and organizations are interested in adding NFTs to their business models.
For example, NASCAR partnered with WAX to issue its first commemorative NFTs to racing fans. As Rarity Sniper reported, a few lucky spectators at the Daytona 500 2022 received NFT tickets on their WAX account. NASCAR executives said they would continue to use NFTs to connect with fans at future events.
More recently, Kia Motors announced that it will be selling six NFT versions of its electric vehicles on the Klip Drops platform. These highly stylized versions of Kia’s cars should promote environmental awareness. Each NFT is set to sell for at least $399 per token.
The automaker Alfa Romeo uses NFTs to help create its Tonale SUV. However, Alfa Romeo does not sell its NFTs to the public. Instead, the Italian carmaker says it wants to use NFTs to verify business documents on the blockchain.
As for high-end Italian brands, Ferrari has announced that it is working on an NFT market with Swiss company Velas Network. Lamborghini also unveiled its first sponsored NFT artwork by Fabian Oefner in early February 2022.