Hasbro CEO wants the NFT market for Magic

At the conference on Hasbro's first-quarter earnings from 2021, Brian Goldner, Hasbro's CEO, revealed that Hasbro's interest in participating in the new NFT market exists.

NFTs means Non-fungible token. They are tokens that represent something unique in the world and use Block-Chain technology to authenticate this uniqueness. As any product can be represented, we are seeing a movement of online photo sales or memes with a buyer being able to confirm that the product is his. The NFT market has grown exponentially today we saw the girl in front of a fire meme being sold for more than US$ 473,000.

The conference was about revenue, but a question asked by Eric Handler of MKM Partners ended up drawing attention to the issue of NFTs: "it looks like the hot new consumer product out there is NFTs. And given that you have a lot of collectible business, have you thought much about what might make sense in the NFT business?"

Brian Goldner made it clear: "The NFT is a real opportunity for us. As you know, we have so many brands that really operate on multiple demographic levels, whether it’s TRANSFORMERS or the MAGIC and D&D brands, brands like G.I. Joe. And we have a team that’s leading our effort out of the West Coast. 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 opportunity here, and we do see it as substantial."

Recently the art of the Island card that was released in digital form in Arena had its sale registered using NFT. An example of how Hasbro can enter this market.

NFTs provide a new perspective on what we can own. The possibilities for selling rights have now become simpler, but Hasbro's creativity will speak loudly about which products it will assign those rights to.