Non-fungible tokens have been all the rage in the art world lately, and Magic: The Gathering could tap into that technology soon. The blockchain-based cryptographic asset tags have become a new method for speculators and art collectors to lay claim to what is essentially the original version of digital art, although it’s also a bit more complicated than that. As reported by Polygon, Hasbro CEO Brian Goldner explained during a quarterly earnings call that the company–which owns Magic: The Gathering–is exploring options to apply the technology to its assets.
“NFTs are a real opportunity for us,” Goldner said. “As you know, we have so many brands that really operate on multiple demographic levels; whether it’s Transformers, whether it’s Magic and the D&D brand, and brands like G.I. Joe. We have a team that is 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 opportunities here, and we do see it as substantial.”
Hasbro’s identity may be primarily linked to toys, but nearly half the company’s profit comes from properties such as Magic: The Gathering, Dungeons & Dragons, and other associated brands. In 2020, the company record $420.4 million in operating profit from all revenue-linked Wizards of the Coast tabletop and digital games, which included licensed Hasbro digital games across its portfolio.
Other companies looking to make a profit off of NFTs include Mythical Games through its upcoming multiplayer title Blankos Block Party via the launch of its NFT Marketplace. Funko announced plans earlier this year to combine its collectible Pop Vinyl collectibles with digital NFTs from June. If you’re interested in reading up more on the technology and how it could impact the future of gaming, check out our in-depth breakdown of the NFT crypto craze.