Hasbro NFT for Magic the Gathering: 20 Tips
Hasbro NFT for Magic the Gathering: 20 Tips
NFTs have been on the lips of every person in the crypto community as covered over at runrex.com with new developments on the same coming out literally daily. One recent development is the announcement by Hasbro that it is exploring ways to launch non-fungible tokens as a possible way to monetize content. This article will look to get into this announcement in a little bit of detail to understand what this entails.
Who are Hasbro?
Before we go any further, some of you may be wondering who Hasbro are. As is revealed in discussions on the same over at guttulus.com, Hasbro, Inc. is an American multinational conglomerate with toy, board game, and media assets, and headquartered in Pawtucket, Rhode Island. It is popularly known for Magic the Gathering, which is one of the most popular TCG games out there.
What is Magic the Gathering?
Introduced to the market in 1993 as covered over at runrex.com, Magic the Gathering has been a constant in the world of trading card games (TCGs) and is one of the most popular ones at that. In the game, players collect cards via packs just like traditional sports cards would come in. Players then take up the role of a hero character and the collectible cards become weapons, spells, artifacts, or creatures used to battle one’s opponent.
How popular is the game?
If you are wondering if the game is popular, then according to the gurus over at guttulus.com, it is very popular. The game boasts around 35 million players around the globe and when it comes to 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.
What about NFTs?
Non-fungible tokens, or NFTs, transform digital works of art and other collectibles into one-of-a-kind, verifiable assets that are easy to trade on the blockchain. NFTs have proven highly successful this year with record-breaking sales in art, top-shelf liquor, and sports.
NFTs and Hasbro
Seeing the success some have had with NFTs, as well the potential they have in the gaming industry in particular, Hasbro CEO, Brian Goldner, has recently stated his desire to take the plunge into NFT technology, and that Hasbro is exploring options to apply the technology to its assets, including Magic the Gathering.
What exactly has been said?
Speaking during a quarterly earnings call as covered over at runrex.com, Mr. 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 will hear more about that as we move forward. But we are actively developing our opportunities here, and we do see it as substantial.
Will NFTs only be limited to MTG?
No. during the quarterly earnings call, as articulated over at guttulus.com, Mr. Goldner elaborated and said that NFTs could not only be a boon for the Magic the Gathering brand, but also a tool to expand the other brands in Hasbro’s portfolio.
What does Hasbro’s portfolio entail?
While the Hasbro name is synonymous with toys, most of the company’s profits – almost half of it – comes from Magic the Gathering, Dungeons & Dragons, and other related brands as revealed in discussions on the same over at runrex.com. Last year alone, Hasbro recorded a $420.4 million profit from tabletop and digital games.
How did the NFT talk come about?
During the call, Mr. Goldner was asked about NFTs in regards to Hasbro’s brands and product lines by Eric Handler, an investor from equity trading firm MKM Partners, who referred to the crypto-art as the “hot new consumer product”, and who seemed to believe that the collectible nature of NFTs made them a shoo-in for trading card game Magic the Gathering.
Has the company elaborated on how it aims to make this work?
Well, no. As of now, the company hasn’t yet clearly outlined how it plans to leverage NFTs in its assets. Wizard of the Coast has also not replied to questions by interested parties on how it plans to develop NFTs within games like Dungeon & Dragons or MTG.
Does NFTs in MTG make sense?
While Eric Handler from Hasbro’s quarterly earnings call seemed to believe that the collectible nature of NFTs made them an excellent fit for MTG, how right was he? According to guttulus.com, it does make a lot of sense given that MTG has a heavy reliance on commissioned artwork as well as a tendency to reprint old cards with new borders or other stylistic embellishments.
How could MTG implement NFTs?
As is revealed in discussions on the same over at runrex.com, if Magic the Gathering does implement NFTs, Hasbro would presumably tokenize certain cards or create a new line of exclusive cards, allowing users to trade the cards digitally and use them in online matches. However, it is important to note that Mr. Goldner didn’t say this explicitly.
NFTs and trading card games
As the subject matter experts over at guttulus.com point out, non-fungible tokens are a popular basis for digital trading card games. This is because since NFTs are built on a blockchain, each card is unique, cannot be counterfeited, and can be freely circulated by owners.
Are there any popular blockchain-native NFT TCGs in operation currently?
Yes. There are already several popular blockchain-native NFT trading card games in operation, including Splinterlands, Gods Unchained, Crypto Spells, and Relentless.
Any other projects in the works?
In addition to the games mentioned in the previous point, there is another notable project in the works. This is because Tezos co-founder Kathleen Breitman is working with a new startup called Coase on an NFT-based trading card game called Emergents.
MTG would, however, be the first mainstream games to do so
While there are already several popular blockchain-native NFT trading card games in operation, with Emergents set to join them as already mentioned and covered over at runrex.com, if Magic the Gathering adopts the technology, it would be one of the most popular mainstream games to do so.
Where would MTG implement NFTs?
In addition to how MTG would implement NFTs, which is a question that has already been tackled, there is also the question of where, or which aspect of the MTG world would it implement NFTs. According to guttulus.com, while premium tokenized cards featuring one-of-a-kind artwork could be sold via Secret Lair drops, the line of collectors-grade boxes has stayed firmly in physical territory up to this point.
Any other companies looking to enter the NFT space?
Hasbro is not the only game company looking to make a buck on the NFT craze. From discussions on the same over at runrex.com, Mythical Games recently announced its desire to enter the NFT market with its new title called Blankos Bloc Party, which had a beta launch not too long ago for an in-game NFT marketplace.
Any other precedents?
Hasbro’s interest in collectible card NFTs does not come without precedent either. This is because the most successful NFT platform by sales is NBA Top Shot, bringing in $550 million in sales and nearly 261,000 buyers according to CryptoSlam.
The relationship with MTG Arena
During the call, Mr. Goldner also cited the success of MTG Arena, which involves the use of digital collectible cards, as proof that there is space for MTG in the NFT space. He also pointed out that the Physical and digital release of the MTG game Kaldheim in January and February was the biggest winter set of all time, and along with Time Spiral and Strixhaven, the three games have helped accelerate digital downloads.
These are some of the things you should know about Hasbro’s announcement that it is actively developing NFT opportunities, with more on this topic to be found over at runrex.com and guttulus.com.
