Fast & Furious fans are in for a treat this month as Mattel plans to launch Fast & Furious NFTs starting on May 22, 2023. The NFTs will be available until May 29, 2023, timed perfectly with the upcoming release of ‘Fast X: Fast & Furious 10’. The Hot Wheels NFT Garage x Fast & Furious NFTs, held on the Flow blockchain and created in collaboration with Cryptoys, will showcase iconic cars from the legendary movie such as Brian O’Conner’s 1969 Camaro, Dominic Toretto’s 1970 Dodge Charger, and Suki’s Honda S2000, each selling for just $20. These NFTs act as digital certifications, which verify authenticity and ownership and are distinct from one another, ensuring exclusivity, originality, and, consequently, desirability.
Like Mattel’s most recent digital collectibles, ‘Boss Beauties x Barbie,’ the Fast & Furious project allows holders to own a physical object. However, instead of receiving an iconic fashion doll, the redeemable prizes include a tangible metal replica of a Suki car for those who acquire the entire set of digital assets.
Mattel has been expanding its digital realm, joining forces with OnChain Studios earlier this month to venture further into the emerging cryptocurrency and digital art market. This partnership launched the Star Wars-themed NFTs, which coincided with ‘Star Wars Day’ on May 4. However, this was not Mattel’s first time in the Web3 space. In 2021, it auctioned Hot Wheels digital art pieces, followed by four other series, including this one, after experiencing their success. Further riding the wave of victory and capitalizing off Cryptoys, Mattel released other collectibles, including Masters of the Universe, and started its virtual store, ‘Mattel Creations’.
Mattel’s ongoing involvement in the Web3 universe reflects its desire to stake a claim in this digital race. Combining redeemable physical toys with digital collectibles showcases the limitless potential of NFTs and the fast pace of technological advancements.
NFTs, or non-fungible tokens, are encoded cryptographic assets that represent a unique asset. They emerged in 2017 as a way for digital art and music to receive recognition and ownership protection. However, over time, their utility has broadened to include other applications, including gaming, sports, and collectible items like those being offered by Mattel. These assets offer holders authenticity and the feeling of luxury and exclusivity that physical collectibles provide.
While NFTs are still a new and novel concept, recent trends have shown that they have enormous potential, including high sales and rapid growth. According to the 2022 Non-Fungible Tokens Report, the market value of NFTs grew more than 35 times between 2020 and 2021.
In conclusion, Mattel’s new offering of Fast & Furious NFTs is an excellent opportunity for fans of the movie franchise and collectors alike to acquire exclusive digital assets tied to the coveted series. Mattel’s continuous endeavor into the world of NFTs is a testament to the technology’s potential to create new value for collectors and the digitization of the art and collectible industry. As this digital asset continues to gain traction, the market’s potential will become even more significant, powering a new era of exclusive and verifiable digital art and collectibles.
