#Mattel to auction digital Hot Wheels amid NFT craze

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 starting on June 22 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.

Just last week the most expensive NFT sold was a picture of the Shiba Inu known as “doge” which went for $4 million to an unidentified buyer with the twitter handle @pleasrDAO.

Digital assets have exploded in popularity this year with even an invisible sculpture by the Italian artist, Salvatore Garau, selling for $18,000 this month.

The buyer was given a certificate of authenticity to prove that it was real.