Category: NFT News

Hot Wheels NFT Series Sounds Like a Gold Mine Thanks to Seven Treasure Hunts

I drove to the nearest city yesterday to renew my passport. After wrapping things up, I visited local toy stores to search for new Hot Wheels cars. And I was ecstatic to find the black 944 from the Porsche series, despite its non-premium status.

Mattel never ceases to amaze with its creativity and marketing ideas. Despite the poor performance of the iD series, the diecast manufacturer flipped it around for something new. Riding the NFT trend, it created the NFT Garage series in 2022. Buying Virtual Collectibles was costly, but some were lucky to find the redeemable tokens.

And those would give them access to a physical Hot Wheels casting for their collection. It’s almost like gambling, which may have added to the excitement for some. Every series featured a Treasure Hunt model, and starting with the sixth line-up, we now also have a ZAMAC casting to look for. Given its short lifespan, it may be premature to assess the NFT Garage. But judging by the prices on the open market, it may be a potential gold mine for some people (cough, cough, scalpers mostly).

At first, I was fascinated by the concept, but I was also absorbed with anything NFT-related. But I’m over that phase now. I’ve only bought two NFTs, but I have seen friends and relatives losing a lot of money over the topic. Today’s exercise aims to learn more about NFT Garage Redeemable items: how much they cost, which manufacturer is the most popular, and where the series is heading shortly.

Most Popular Manufacturer

Photo: Mattel

Come to my page!

Mattel developed seven NFT Garage series since 2022. There are five redeemable items in each one until Series 5 inclusively. A ZAMAC model has added one more vehicle to look for, starting with Series 6. That adds up to 37 cars. But there are three more Feature Drops to keep in mind. Series 1 was almost a Fantasy-exclusive take on the idea, as the company used some of its most popular castings: the Bone Shaker, the Twin Mill, the Mach Speeder, and the Rodger Dodger.

And it does not surprise me that the only licensed car was a Chevrolet. It’s also the leading figure in the Super Treasure Hunt series, and it’s well-known that the bond between the two giants is strong. Interestingly, we only saw two more Fantasy collectibles in Series 2 and two more in Series 3. With the special Deora II release, that adds up to 9 castings. Maintaining collectors interested in these is complex, and the balance has shifted starting with Series 4.

As of now, Chevrolet is second on the list with seven appearances. Porsche takes third with four cars, while Pagani and Honda have had three representatives in the NFT Garage line-up thus far. I’m shocked that companies like Nissan, Mazda, Ford, and Volkswagen are not on the list of redeemables for now. But if NFT Garage survives 2024, that’s undoubtedly going to change.

Five Most Exciting Vehicles

Hot Wheels NFT Series Sounds Like a Gold Mine Thanks to Seven Treasure Hunts

Photo: eBay/User Karran Toys & Comics

This is a subjective discussion, as you may choose completely different models. I’m sharing my perspective, as I’m more inclined to spend some money buying any of the following five vehicles. I couldn’t find anything interesting in Series 1, but I would love to get my hands on the Spectraflame Blue Honda S2000 from Series 2. Series 3 felt rather tedious, except for the ’77 Pontiac Firebird T/A.

But I need more than that to make me want to use my credit card. The McLaren F1 GTR Treasure Hunt from Series 4 could have been a winner, but the color combo reminds me of the defunct iD collectibles. The F1 GTR is one of my all-time favorite Hot Wheels castings, but I’ll skip this one in favor of the stock-body F1 in Series 5. If you read my recent Series 6 review, you’ll know I’m crazy about the Spectraflame Red ’78 Porsche 935-78, and I might just consider paying $135 for one.

And Mattel has pulled out the big guns for Series 7. Redeemable items can be activated in April, but there are plenty of pictures to watch before that time. The Datsun 510 Wagon and the ’70 Dodge Power Wagon look fantastic in green, and I’m afraid to even think of how expensive the first one will be in a few years.

Pricing and Availability

Hot Wheels NFT Series Sounds Like a Gold Mine Thanks to Seven Treasure Hunts

Photo: eBay/User Big-mikes-funhouse

Here comes the tricky part. Pricing and availability go hand in hand. The rarer the casting, the more expensive it can become. As we’ve seen with the Red Line Club collectibles, Mattel has continuously increased production numbers to meet the high demand. The Bone Shaker Treasure Hunt is the rarest item in NFTGarage, with only 600 units. But I’ve overheard some collectors noting that some tokens went unredeemed, which means fewer physical casting may have reached the market.

TH production numbers increased to 1,000 for Series 2, 1,250 for Series 3, and they were up to 1,750 units for Series 6. The other models are more common, ranging from 1,200 to 3,750 units. At this rate, we could reach 10,000 pieces per casting within the next few years. I’ve done the math, and Mattel may have produced upward of 70,000 physical Hot Wheels NFTs since the series started in 2022.

That’s not considering Series 7, as I have yet to find its official figures. But let’s talk money. Accurately determining the market value of these items is a challenging task. The best you can do now is look at online listings, talk to other collectors, and let things cool down for a few months before buying something.

Hot Wheels NFT Series Sounds Like a Gold Mine Thanks to Seven Treasure Hunts

Photo: eBay/User snrcustoms

Some sellers are trying to get rich fast, so prices can sometimes be ridiculous. The first two Treasure Hunt Models will hit your wallet hard, costing up to $2,600 (Bone Shaker) and $2,500 (’55 Chevy Bel Air Gasser). Someone asked $740 for the Honda S2000 in Series 2, but that’s still cheaper than the three Feature Drop items. I couldn’t find the Deora II for less than $600, while the Lamborghini Veneno will quickly go up to $1,000. If you add up all the most expensive listings, you’ll have to pay almost $18,000 for 40 Hot Wheels cars.

That’s an average of $450 per item. To put things in perspective, 244 Super Treasure Hunts will cost almost $36,000. That’s twice the price but six times the number of collectibles. Going for the most expensive listings is never a good idea, but neither is opting for the cheapest ones. I’ve seen several “Custom-made” NFT Garage items, which can trick some people into believing they’ve bought the real thing. The cheapest collectible on eBay right now is the Aston Martin Valhalla Concept in Series 6, with an asking price of $40.

I have only spotted three other vehicles that you can get for less than $50: the 2 Jet Z (Series 3), the Aston Martin Vulcan (Series 5), and the ’17 Pagani Huayra Roadster (also from Series 5). Going for the cheapest option can cost as much as $7,214. And that makes me confident about the best-case scenario. With enough patience and knowledge, buying in bulk could bring you the entire NFT Garage collection for $5,000 or less. Is it worth that much to begin with? That’s up to you to decide.

Predictions for the Future

Hot Wheels NFT Series Sounds Like a Gold Mine Thanks to Seven Treasure Hunts

Photo: eBay/User hobi.shopee

Mattel won’t have difficulty determining which castings should come up next with Series 8. Just think of how enormous its portfolio is. Will there be any new categories, like we saw with the ZAMAC release in Series 6? Are the head honchos in El Segundo going to split the Treasure Hunt line-up into Regular TH and Super TH as they did in 2007?

People may respond positively to an additional Team Transport model, but I hope it would be a new pair of castings. Even though some collectors have made it clear they don’t want anything to do with NFT Garage, the new generation may feel different about it. Financially, it must make sense for Mattel to continue, but you can’t deny some extra incentives would go a long way in convincing more people to come aboard.

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