Hot Wheels Partners with WAX Blockchain for Launching Digital Collectibles June 29, 2022 June 29, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJune 29, 2022 by Kelly Cromley

Hot Wheels Partners with WAX Blockchain for Launching Digital Collectibles

WAX blockchain will be working with Hot Wheels, a toy that has been consistently one of the most popular over the last half-century. Mattel Inc. has been instrumental in making this one-of-a-kind partnership a reality. Importantly, they are the proprietors of Hot Wheels as well as one of the major corporations in the world that specialize in providing fun for children. As a result of the agreement, NFTs will be connected with actual diecast vehicles. In addition to that, the Hot Wheels Unleashed video game is now in the development stage.

Those who are interested in collecting iconic collectible automobiles now have the chance to do so in both physical and web3 formats, giving them more options than ever before. Each token is associated with a real-world representation of a Hot Wheels NFT vehicle, and this is made possible via the vIRL (virtual in real life) technology that is offered by WAX. It costs $25 for a pack of seven collectors NFTs to purchase. This specific auction features a total of 5,400 NFTs that are up for grabs throughout the board.

The collection that WAX has collaborated on with Hot Wheels is called “The Hot Wheels NFT GarageTM series 3,” and it has ten different licensed car models spread out across four different mini-collections. There are between seven and eight unique vehicle models included in each mini-collection. In addition, eleven of those models come in a variety of designs and include a wide range of components.

It is important to note that all of the vehicles in the Hot Wheels NFT collection with WAX will be representations of fan favorites from Mattel’s highly regarded Hot Wheels UnleashedTM video game. It is important to note that these NFTs may be acquired in one of five different rarity levels. These tiers are known as Base, Rare, Premium, NFTH (also known as Treasure Hunt), and Showroom.

The iconic toy manufacturer Mattel is continuing its preparations for the future by expanding its business onto web3 platforms. Mattel, which was established in 1945, now has a fantastic chance, thanks to the advent of the metaverse, NFTs, and other developments, to move quickly forward with its ambitions for a digital transformation that would future-proof the firm.

In conclusion, the fact that Mattel has collaborated with WAX on the Hot Wheels collection demonstrates that the corporation is thinking about the effects that climate change will have in the long run. WAX is a blockchain that uses a carbon-neutral proof of stake algorithm. It has a plan to safeguard the natural world in this era of rapid technological advancement.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.