{"id":116966,"date":"2021-06-22T16:04:59","date_gmt":"2021-06-22T20:04:59","guid":{"rendered":"https:\/\/rbach.net\/?p=116966"},"modified":"2021-08-27T12:36:08","modified_gmt":"2021-08-27T16:36:08","slug":"hot-wheels-roll-into-nft","status":"publish","type":"post","link":"https:\/\/rbach.net\/index.php\/hot-wheels-roll-into-nft\/","title":{"rendered":"Hot Wheels Roll into NFT"},"content":{"rendered":"\r\n<p><a href=\"https:\/\/hotwheels.mattel.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-117025 size-medium\" title=\"Hot Wheels Roll into NFT\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/hot_wheels_logo.png?resize=150%2C48&#038;ssl=1\" alt=\"Hot Wheels Roll into NFT\" width=\"150\" height=\"48\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/hot_wheels_logo.png?resize=150%2C48&amp;ssl=1 150w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/hot_wheels_logo.png?resize=75%2C24&amp;ssl=1 75w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/hot_wheels_logo.png?w=420&amp;ssl=1 420w\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" \/><\/a><a title=\"Mattel\" href=\"http:\/\/www.mattel.com\/\" target=\"_blank\" rel=\"homepage noopener noreferrer\">Mattel<\/a>\u00a0(<a title=\"NASDAQ: MAT\" href=\"https:\/\/www.tradingview.com\/symbols\/NASDAQ-MAT\/\" target=\"_blank\" rel=\"noopener noreferrer\">MAT<\/a>) has joined the <strong>cryptocurrency craze<\/strong>. The toymaker will offer three pieces of digital art in the form of <strong>nonfungible tokens, or NFTs<\/strong>, for auction on its <a href=\"https:\/\/nft.mattelcreations.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Mattel Creations website<\/a>. The digital art sale will feature several iconic <strong><a href=\"https:\/\/hotwheels.mattel.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Hot Wheels<\/a> vehicles<\/strong> in the <a href=\"https:\/\/nft.mattelcreations.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Hot Wheels NFT Garage Series<\/a>. The one-of-a-kind works will feature classic cars in their original colors from the initial release:\u00a0<\/p>\r\n<ul>\r\n<li>The <strong><a href=\"https:\/\/hotwheels.fandom.com\/wiki\/Twin_Mill\" target=\"_blank\" rel=\"noopener\">Twin Mill<\/a><\/strong> was designed in 1968 as a sleek racer with twin big-block engines.<\/li>\r\n<li><a href=\"https:\/\/web.archive.org\/web\/20211028071017\/https:\/\/designtaxi.com\/news\/414389\/Mattel-Launches-Hot-Wheels-Digital-Collectibles-En-Route-To-World-Of-NFTs\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-117024\" title=\"Bone Shaker NFT\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/bineshaker-e1624323233610-150x59.png?resize=120%2C47&#038;ssl=1\" alt=\"Bone Shaker NFT\" width=\"120\" height=\"47\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/bineshaker-e1624323233610.png?resize=150%2C59&amp;ssl=1 150w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/bineshaker-e1624323233610.png?resize=75%2C29&amp;ssl=1 75w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/bineshaker-e1624323233610.png?w=525&amp;ssl=1 525w\" sizes=\"auto, (max-width: 120px) 100vw, 120px\" \/><\/a>The <a href=\"https:\/\/hotwheels.fandom.com\/wiki\/Bone_Shaker\" target=\"_blank\" rel=\"noopener\"><strong>Bone Shaker<\/strong><\/a> is a hot-rod-style machine with a skull and bones theme.<\/li>\r\n<li>Finally, the <strong><a href=\"https:\/\/hotwheels.fandom.com\/wiki\/Deora_II\" target=\"_blank\" rel=\"noopener\">Deroa II<\/a> <\/strong>represents one of the original 16 cars Mattel released. The model has a bubble windshield, an engine in the back, and a pair of surfboards.<\/li>\r\n<\/ul>\r\n<p>The virtual cars will be <a href=\"https:\/\/nft.mattelcreations.com\/\" target=\"_blank\" rel=\"nofollow noopener\">auctioned off,<\/a> beginning on June 22, 2021, at noon Eastern. The auction will run for a week. Mattel is only accepting the <strong>cryptocurrency <a href=\"https:\/\/ethereum.org\/en\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a><\/strong> (<a href=\"https:\/\/www.coinbase.com\/price\/ethereum\" target=\"_blank\" rel=\"nofollow noopener\">ETH<\/a>). Bidding starts at $0.99. With only one NFT of each car being created, prices could soar.<\/p>\r\n<h3>Mattel planning more NFT collections<\/h3>\r\n<p><a href=\"https:\/\/clipart-library.com\/clipart\/n790580.htm\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-117027\" title=\"NFT auctions\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/auction.jpg?resize=95%2C66&#038;ssl=1\" alt=\"NFT auctions\" width=\"95\" height=\"66\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/auction.jpg?resize=75%2C52&amp;ssl=1 75w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/auction.jpg?resize=150%2C104&amp;ssl=1 150w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/auction.jpg?resize=768%2C531&amp;ssl=1 768w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/auction.jpg?w=800&amp;ssl=1 800w\" sizes=\"auto, (max-width: 95px) 100vw, 95px\" \/><\/a>Mattel has stated that it was already in the planning stages to release similar NFT auctions for other <strong>intellectual properties<\/strong>. CEO Richard Dickson stated that the Hot Wheels NFT move is part of Mattel&#8217;s effort to remain relevant by evolving toys into digital art. &#8220;<em>Part of our effort to make Mattel relevant is to make sure that our brands are timeless and timely &#8230; We need to be on top of current conversations.&#8221;<\/em><\/p>\r\n<p>Some examples of brands owned by Mattel that could release NFTs include:<\/p>\r\n<ul>\r\n<li>American Girl,<\/li>\r\n<li>Barbie,<\/li>\r\n<li>Fisher-Price,<\/li>\r\n<li>Masters of the Universe, and<\/li>\r\n<li>Matchbox.<\/li>\r\n<\/ul>\r\n<h3>What is an NFT<\/h3>\r\n<p><a href=\"https:\/\/www.huffpost.com\/entry\/blockchain-the-new-opport_b_13718072\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-117028\" title=\"What is an NFT\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/blockchain_icon-1-e1624371030871-43x75.jpg?resize=57%2C100&#038;ssl=1\" alt=\"What is an NFT\" width=\"57\" height=\"100\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/blockchain_icon-1-e1624371030871.jpg?resize=43%2C75&amp;ssl=1 43w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/blockchain_icon-1-e1624371030871.jpg?resize=86%2C150&amp;ssl=1 86w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/blockchain_icon-1-e1624371030871.jpg?w=326&amp;ssl=1 326w\" sizes=\"auto, (max-width: 57px) 100vw, 57px\" \/><\/a>NFTs are <a href=\"https:\/\/en.wikipedia.org\/wiki\/Non-fungible_token\" target=\"_blank\" rel=\"nofollow noopener\">non-fungible tokens<\/a>. An NFT is a piece of <strong>digital content that you own that still retains the creator&#8217;s information<\/strong>. For instance, artists can sign their artwork by including their <strong>signature in an NFT&#8217;s metadata<\/strong>. The creator&#8217;s information is maintained in the <strong><a href=\"https:\/\/wp.me\/p2wgaW-lra\" target=\"_blank\" rel=\"noopener\">blockchain<\/a><\/strong>. Unlike <a href=\"https:\/\/wp.me\/p2wgaW-l6Y\" target=\"_blank\" rel=\"noopener\">bitcoin<\/a> (<a href=\"https:\/\/www.coinbase.com\/price\/bitcoin\" target=\"_blank\" rel=\"noopener\">BTC<\/a>), which also uses a blockchain, you can&#8217;t trade an NFTs for a pizza, because the <strong>NFT is not fungible<\/strong>. Fungibility is the ability to substitute one unit of a financial instrument for another unit of the same financial instrument. Every dollar or bitcoin has the same value at the same time.<\/p>\r\n<p>Each NFT is attached to a specific digital asset i.e. a piece of art, or a picture of a Hot Wheels car. An NFT is a unique, <strong>digital version of a certificate of authenticity<\/strong>, publicly approved by the blockchain and not money.\u00a0NFTs have become popular in the art world because they allow artists to have <strong>more control over their works<\/strong> by selling limited-edition digital goods directly to consumers.\u00a0<\/p>\r\n<p><a href=\"https:\/\/dailyblogtips.com\/ways-to-make-money-online-with-website\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-117031\" title=\"Sell  directly to the consumer as an NFT\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/money_pc-e1624371640588-150x118.jpg?resize=111%2C87&#038;ssl=1\" alt=\"Sell  directly to the consumer as an NFT\" width=\"111\" height=\"87\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/money_pc-e1624371640588.jpg?resize=150%2C118&amp;ssl=1 150w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/money_pc-e1624371640588.jpg?resize=75%2C59&amp;ssl=1 75w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/money_pc-e1624371640588.jpg?w=277&amp;ssl=1 277w\" sizes=\"auto, (max-width: 111px) 100vw, 111px\" \/><\/a>Forbes <a href=\"https:\/\/www.forbes.com\/advisor\/investing\/nft-non-fungible-token\/\" target=\"_blank\" rel=\"nofollow noopener\">explains<\/a> that Blockchain technology and NFTs offer content creators a unique opportunity to <strong>monetize their wares<\/strong>. For example, artists no longer have to rely on galleries or auction houses to sell their art. Instead, the artist can sell it directly to the consumer as an NFT, which also lets them <strong>keep more of the profits<\/strong>. In addition, artists can program in royalties so they&#8217;ll receive a percentage of sales whenever their art is sold to a new owner. This is an attractive feature as artists generally do not receive future proceeds after their art is first sold.<\/p>\r\n<h3>NFTs environmental impact\u00a0<\/h3>\r\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-116662\" title=\"NFTs environmental impact\u00a0\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/green_earth-11.png?resize=90%2C86&#038;ssl=1\" alt=\"NFTs environmental impact\u00a0\" width=\"90\" height=\"86\" srcset=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/green_earth-11.png?resize=150%2C143&amp;ssl=1 150w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/green_earth-11.png?resize=75%2C72&amp;ssl=1 75w, https:\/\/i0.wp.com\/rbach.net\/wp-content\/uploads\/green_earth-11.png?w=300&amp;ssl=1 300w\" sizes=\"auto, (max-width: 90px) 100vw, 90px\" \/>Then there is the environmental impact of NFTs, which has attracted real scrutiny. The <strong>computing power required to operate the underlying blockchain system of NFTs is immense<\/strong>. By some <a href=\"https:\/\/www.npr.org\/2021\/03\/05\/974089381\/whats-an-nft-and-why-are-people-paying-millions-to-buy-them\" target=\"_blank\" rel=\"nofollow noopener\">estimates<\/a>, one crypto transaction could gobble up more power than the average U.S. household uses in a single day. One artist estimated that generating six NFT pieces consumed more electricity than his entire physical studio did in two years.\u00a0<\/p>\r\n<h3>Other firms jumping into NFTs<\/h3>\r\n<p>Other firms jumping into the NFT game include:<\/p>\r\n<ul>\r\n<li><a href=\"https:\/\/cnnpressroom.blogs.cnn.com\/2021\/06\/16\/cnn-makes-moments-from-history-available-for-purchase-with-nfts\/\" target=\"_blank\" rel=\"nofollow noopener\">CNN<\/a><\/li>\r\n<li><a href=\"https:\/\/www.nytimes.com\/2021\/03\/26\/technology\/nft-sale.html\" target=\"_blank\" rel=\"nofollow noopener\">The New York Times<\/a>, and<\/li>\r\n<li><a href=\"https:\/\/www.nytimes.com\/2021\/05\/13\/business\/nba-top-shot-moments.html\" target=\"_blank\" rel=\"nofollow noopener\">The NBA<\/a><\/li>\r\n<li>A Lebron James <a href=\"https:\/\/ftw.usatoday.com\/2021\/02\/nba-top-shot-lebron-james-dunk-sold-record-price\" target=\"_blank\" rel=\"nofollow noopener\">NFT trading card<\/a> sold for $208,000.<\/li>\r\n<li>Twitter co-founder Jack Dorsey sold his first-ever tweet as an NFT for <a href=\"https:\/\/www.cnn.com\/2021\/03\/23\/tech\/jack-dorsey-nft-tweet-sold\/index.html#:~:text=New%20York%20%28CNN%20Business%29%20Twitter%20CEO%20Jack%20Dorsey,120%2C000%20times%20and%20liked%20more%20than%20160%2C000%20times.\" target=\"_blank\" rel=\"nofollow noopener\">more than $2.9 million<\/a>.<\/li>\r\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Everydays:_the_First_5000_Days\" target=\"_blank\" rel=\"nofollow noopener\">EVERYDAYS: THE FIRST 5000 DAYS<\/a>, artwork, created by digital artist Mike &#8220;Beeple&#8221; Winkelmann, sold for <a class=\"sc-18vyx5u-0 fldhJT\" href=\"https:\/\/decrypt.co\/60971\/beeples-nft-artwork-sells-for-60-3-million-in-christies-auction\" target=\"_blank\" rel=\"noopener\">$69.3 million<\/a> at Christie&#8217;s.\u00a0<\/li>\r\n<\/ul>\r\n<p><strong><em>rb-<\/em><\/strong><\/p>\r\n<p><em>Some people believe this is the future of buying, selling, and trading assets. But critics say the market could crash if cryptocurrencies tumble.<\/em><\/p>\r\n<p><em>What do you think? <\/em><\/p>\r\n<div id=\"polls-31\" class=\"wp-polls\">\n\t<form id=\"polls_form_31\" class=\"wp-polls-form\" action=\"\/index.php\" method=\"post\">\n\t\t<p style=\"display: none;\"><input type=\"hidden\" id=\"poll_31_nonce\" name=\"wp-polls-nonce\" value=\"378868ebb0\" \/><\/p>\n\t\t<p style=\"display: none;\"><input type=\"hidden\" name=\"poll_id\" value=\"31\" \/><\/p>\n\t\t<p style=\"text-align: left;\"><strong>NFTs are<\/strong><\/p><div id=\"polls-31-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li><input type=\"radio\" id=\"poll-answer-80\" name=\"poll_31\" value=\"80\" \/> <label for=\"poll-answer-80\">The future of buying, selling, and trading assets<\/label><\/li>\n\t\t<li><input type=\"radio\" id=\"poll-answer-81\" name=\"poll_31\" value=\"81\" \/> <label for=\"poll-answer-81\">The 21st century Pet Rock<\/label><\/li>\n\t\t<\/ul><p style=\"text-align: center;\"><input type=\"button\" name=\"vote\" value=\"   Vote   \" class=\"Buttons\" onclick=\"poll_vote(31);\" onkeypress=\"poll_result(31);\" \/><\/p><p style=\"text-align: center;\"><a href=\"#ViewPollResults\" onclick=\"poll_result(31); return false;\" onkeypress=\"poll_result(31); return false;\" title=\"View Results Of This Poll\">View Results<\/a><\/p><\/div>\n\t<\/form>\n<\/div>\n<div id=\"polls-31-loading\" class=\"wp-polls-loading\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/rbach.net\/wp-content\/plugins\/wp-polls\/images\/loading.gif?resize=16%2C16&#038;ssl=1\" width=\"16\" height=\"16\" alt=\"Loading ...\" title=\"Loading ...\" class=\"wp-polls-image\" \/>&nbsp;Loading ...<\/div>\n\r\n<p style=\"text-align: center;\"><em><strong><a href=\"https:\/\/covid.cdc.gov\/covid-data-tracker\/?utm_source=morning_brew#cases_casesper100klast7days\" target=\"_blank\" rel=\"noopener noreferrer\">Stay safe out there!<\/a><\/strong><\/em><\/p>\r\n<p><strong>Related article<\/strong><\/p>\r\n<ul>\r\n<li><a title=\"How Energy Intensity Clouds Blockchain\u2019s Future\" href=\"https:\/\/www.supplychainbrain.com\/blogs\/1-think-tank\/post\/33284-how-energy-intensity-clouds-blockchains-future\" target=\"_blank\" rel=\"nofollow noopener\">How Energy Intensity Clouds Blockchain\u2019s Future<\/a>\u00a0(<a title=\"SupplyChainBrain\" href=\"https:\/\/www.supplychainbrain.com\/\" target=\"_blank\" rel=\"nofollow noopener\">SupplyChainBrain<\/a>)<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p><em><a title=\"Ralph Bach\" href=\"https:\/\/rbach.net\/index.php\/new-resume\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ralph Bach<\/a>\u00a0has been in IT long enough to know better and has blogged from his\u00a0<a title=\"Bach Seat\" href=\"https:\/\/rbach.net\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bach Seat<\/a>\u00a0about IT, careers, and anything else that catches his attention since 2005. You can follow him on\u00a0<a class=\"broken_link\" href=\"http:\/\/www.linkedin.com\/in\/rb48334\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">LinkedIn<\/a>,\u00a0<a href=\"https:\/\/www.facebook.com\/ralph.bach.14\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/rbach48334\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>. Email the Bach Seat\u00a0<a href=\"mailto:\/\/bach.seat@gmail.com\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>Mattel is rolling into NFT with virtual artwork of iconic Hot Wheels cars Twin Mill, Bone Shaker, and Deroa II up for bid.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[3558,2754,32,2755,3593,523,2024,302,3594],"class_list":["post-116966","post","type-post","status-publish","format-standard","hentry","category-business","tag-3558","tag-blockchain","tag-business","tag-cryptocurrency","tag-ethereum","tag-hot-wheels","tag-mat","tag-mattel","tag-nft"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/116966","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/comments?post=116966"}],"version-history":[{"count":19,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/116966\/revisions"}],"predecessor-version":[{"id":129118,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/posts\/116966\/revisions\/129118"}],"wp:attachment":[{"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/media?parent=116966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/categories?post=116966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rbach.net\/index.php\/wp-json\/wp\/v2\/tags?post=116966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}