American teenager George Hotz enjoyed quite the busy summer this year. While simultaneously preparing for college, tinkering with his car, and working to complete several other projects, Hotz managed to find a risky (yet completely effective) method of unlocking the iPhone. While everyone else seems to think that the best way to unlock the iPhone is with a software program, Hotz unlocked it with an intricate 10-step technique involving soldering irons and voltage meters. And while it's not good for the day-to-day hardware modder, a factory could automate the process, and make a substantial amount of profit. Certicell founder Terry Diadone thinks so, and felt that the unlocked iPhone was worth a Nissan 350Z sports car, and three brand-new iPhones. George Hotz gladly accepted the offer, and the official trade was made on Saturday. Hotz drives off to college in style tomorrow, and will be giving away all three iPhones to his best benefactors and friends. While in college, Hotz plans to work with Certicell to do some consulting work, and to add GPS functionality to the iPhone.

If you think you can unlock the iPhone yourself, check out Hotz' blog here.