Play and entertainment company Hasbro has announced that it is working on NFT technology to be used in the companies profile. The specific target is one of the most popular collectible card games, “Magic: The Gathering.”
Ever since its introduction in 1993, “Magic: The Gathering” (MTG) has been a constant in the world of trading card games (TCGs). In the game, players collect cards via packs just like traditional sports cards would come in. Players take up the role of a hero character and the collectible cards become weapons, spells, artifacts, or creatures used to battle your opponent.
For those chuckling to themselves about how such a “game” could be so popular, consider this. “Magic: The Gathering” boasts around 35 million players around the globe.
As far as the cards themselves and potential value. Sales of individual prints regularly reach into the five-figure range with some, like the legendary Black Lotus, fetching north of $500,000.
Whether you are aware of this game or not, the fact is, it makes money. And now, the CEO of the parent company is setting his sights on NFTs to take in a bit more.
MTG, TCGs, and NFTs
Non-fungible tokens, or NFTs, have proven highly successful this year with record-breaking sales in art, top-shelf liquor, and sports.
Hasbro CEO, Brian Goldner, has stated his desire to take the plunge into NFT technology and spoke about what it could mean for the future of MTG. Goldner said:
“NFTs are a real opportunity for us. […] We have our arms around this and see multiple opportunities on the NFT side, and you’ll hear more about that as we move forward. But we are actively developing our opportunities here, and we do see it as substantial.”
During a quarterly earnings call, Goldner elaborated and said that NFTs could not only be a boon for the MTG brand but also a tool to expand the other brands in Hasbro’s portfolio.
While the Hasbro name is synonymous with toys, many don’t realize that half of the company’s profit comes from MTG, Dungeons & Dragons, and other related brands. Last year, Hasbro recorded $420.4 million in profit from tabletop and digital games.
Other industries enter the NFT space
Hasbro is not the only game company looking to make a buck on the NFT craze. Mythical Games recently announced their desire to enter the NFT market. Mythical Game’s new title called Blankos Bloc Party, had a beta launch last month for an in-game NFT marketplace.
This will allow players to take gifts they received back in 2019 as a thank you from the developers, and sell them as NFTs.
As proven by projects like NBA Top Shot, low serial number NFTs that are released in limited quantities typically resell many times more than the original price.
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