Sorry Hot Wheels......not seeing the point of this

[HomerS]

Introducing the Hot Wheels NFT Garage™, where physical cars are reimagined as unique, highly coveted pieces of digital art! And on June 22nd, The Twin Mill, Deora II, and Bone Shaker have been minted in the form of three, 1-of-1 NFTs dubbed “THE FIRST EDITIONS”.

Now, brand and digital collectors can participate in a virtual auction to own these exclusive cars featuring their original debut designs in a completely new way. 

 

[vamach1]

16 minutes ago, HomerS said:

Introducing the Hot Wheels NFT Garage™, where physical cars are reimagined as unique, highly coveted pieces of digital art! And on June 22nd, The Twin Mill, Deora II, and Bone Shaker have been minted in the form of three, 1-of-1 NFTs dubbed “THE FIRST EDITIONS”.

Now, brand and digital collectors can participate in a virtual auction to own these exclusive cars featuring their original debut designs in a completely new way. 

 

Can I create my own crypto-currency to “buy” them? 😉

[iamsuperdan]

I don't understand the entire NFT phenomenon.

[youpey]

15 minutes ago, iamsuperdan said:

I don't understand the entire NFT phenomenon.

 

its so dumb, its like collecting art, but not really. the original artwork is valuable and copies are not...except with these digital pictures, its amazingly easy and simple to copy. 

control + C then control + V

i would like to see someone do that with a monet piece

 

oh joy, i have the original copy of jack took my bacon sandwich video....

Edited June 18, 2021 by youpey

[HomerS]

57 minutes ago, vamach1 said:

Can I create my own crypto-currency to “buy” them? 😉

Nope......there was a whole other paragraph on that as well!

[Dave Van]

46 minutes ago, iamsuperdan said:

I don't understand the entire NFT phenomenon.

As a retired bank Sr Analyst of 30 years.....either do i!!!!

Maybe I've been out of the biz to long.....maybe I'm the dumb one. I feel all this 'digital items of value' is a fad for those raised in the digital age.  Not to get political but at some point all this 'digital' can collapse because of what one or a few people say. See Mr Musk. 

I'll keep my original made in 1967 Hot Wheels thank you!!!!   

[89AKurt]

Huh, is there CME insurance that goes with that?  This is just a tiny step for humans going cyborg, you can have it.

[slusher]

Just when you think things could not be any stranger..

[John1955]

8 hours ago, slusher said:

Just when you think things could not be any stranger..

Ditto 

[BlackSheep214]

Everybody is too technology dependent these days... especially the young folks. Imagine them going back to using  rotary phone or pencil sharpener.

[niteowl7710]

It's not really terribly different than how real art and collectibles are dealt with on an investor scale. Unless you have a place to display fine art - not to mention the staff to curate and care for it, it's most likely locked away in a perfectly controlled vault somewhere like the Geneva Freeport never to be seen again.

With a NFT of something truly digital (there are some NFTs attached to physical assets as well) then ultimately you have complete control over it. You want to print a single copy for your wall and be the only person ever to see it, or license it out for t-shirts and model car box art. A good example of that is the concept behind Kevin Smith wanting to sell his next movie as a NFT. If you purchased it you could hide it away or, as the only person with a copy you could distribute the film and in turn earn all the profits from theatre revenue and streaming/DVD distribution - or anything in between. Put it a single theatre for a weekend for 5 showings and sell tickets at $1k a pop. People would pay it just to be one of a handful of people who could say they saw the movie.

[peteski]

But once that movie starts being distributed, what is stopping someone from making a copy of the digital movie file?

[niteowl7710]

10 hours ago, peteski said:

But once that movie starts being distributed, what is stopping someone from making a copy of the digital movie file?

I would presume the same legal protections that "prevent" that from happening now. Movie theaters already don't get physical copies of a reel to reel film like they used to, they pay a certain fee for the "rights" to screen the movie, receive a heavily encrypted digital copy, and then it's up to the theater (theater chain) to charge an appropriate amount of money to turn a profit. If your employees start stealing things from say Disney or MGM I suppose there a variety of financial and opportunity related consequences that occur. I would imagine legal too, but I'm not sure how much jailhouse you can drop on a rank and file minimum wage employee vs. recouping millions from the chain for not properly safeguarding the material.

[bobthehobbyguy]

Considering that most artwork is computer generated with computers this is a way to make the original artwork collectable. Although somebody can get a copy it will only be a copy. The NFT means there can only be one or7ginal.

[Lunajammer]

13 hours ago, bobthehobbyguy said:

Although somebody can get a copy it will only be a copy. The NFT means there can only be one or7ginal.

So basically, all you're buying is bragging rights. When Beeple sold his jpeg at auction for $69-million, it was all over the news, complete with lots of images of the work. The buyer got the single original code for the high res image, yet there's no shortage places to view copies of it.

I guess one could argue the same for viewing copies of original Rembrandts, but it's hard to compare machine generated code to original nuanced brush strokes from the flesh of a human hand to canvas. And you don't need specialized machinery to see it.

Edited June 22, 2021 by Lunajammer

[NOBLNG]

This just once again proves in my mind that a LOT of people have WAY too much money! 🤨 If someone has a spare $69 million laying around to purchase something like that…..???

Edited June 22, 2021 by NOBLNG

[HomerS]

The NHL Golden Knights are getting in on the action as well......

In a statement on their website from VP and Global Head of NFTs Joe Conyers, the Golden Knights stated that the franchise is “always exploring new, innovative ways to engage our fans. We view NFTs as an emerging space that has generated significant interest and momentum in recent months.”

Engage our fans?  I would have thought 'gouge' would be a better term.

[Ace-Garageguy]

On 6/19/2021 at 1:31 PM, BlackSheep214 said:

... Imagine them going back to using  rotary phone or pencil sharpener.

First you'd have to teach them the concept of "pencil" and how it is used to make intelligible marks on paper by carefully controlled contractions and extensions of multiple hand muscles...kinda like non-digital art.  

Edited July 3, 2021 by Ace-Garageguy

[HomerS]

I've spent the last six months trying to collect the life insurance proceeds of my father's policy.  They said they need yet another form completed and offered to fax it to me.  I said "ma'am, I'm living in the 21st century, can you e-mail it to me???"

[HomerS]

2 hours ago, Ace-Garageguy said:

First you'd have to teach them the concept of "pencil" and how it is used to make intelligible marks on paper by carefully controlled contractions and extensions of multiple hand muscles...kinda like non-digital art.  

I've spent the last six months trying to collect the life insurance proceeds of my father's policy.  They said they need yet another form completed and offered to fax it to me.  I said "ma'am, I'm living in the 21st century, can you e-mail it to me??"

[NYLIBUD]

No offense to anyone,but I never liked HotWheels.They look like someone on acid designed and made them.Not to say that some of them are not pretty cool,but I want cars that look real.I was always a Matchbox kid/guy..And now there’s a ton of very realistic looking brands,such as Autoworld,GMP,Greenlight,& the list goes on.However I sure would love to get my hands on some of those rare and ultra expensive HWs for my diecast collection.Like these,with prices ranging from a couple of hundred $$, to over a $100,000 cars.Lordy B….Ah Well the website is not letting me download more pics,but u get what I mean.🤨🙄,,,🤑🤑🤑🤑🤑.I think the most valuable HW car is around $175,000.Wow😱..I mean this isn’t the $175,grand one.But it’s up there in value.

Edited July 11, 2021 by NYLIBUD

[peteski]

I agree that Matchbox are more of a scaled down miniatures of 1:1 vehicles, where Hot Wheels are more whimsical. Still, I like both brands.  When I was growing up on Poland, all we had access to was Matchbox models from England (and those were highly prized toys because even they were hard to get).