Hasbro CEO: NFTs 'A Real Opportunity' For Magic: The Gathering

Hasbro CEO Brian Goldner has said that the toy and game manufacturer is considering incorporating non-fungible tokens (NFTs) into brands such as Magic: The Gathering—a world-famous collectible card fantasy game.

“We'll continue to monitor and look at what appears to be an accelerating Magic business,” Goldner said during a quarterly earnings call, adding, “The NFT is a real opportunity for us.”

Goldner added that Hasbro has “many brands that really operate on multiple demographic levels,” including Magic: The Gathering and G.I. Joe. “We have really our arms around this and see multiple opportunities on the NFT side,” Goldner said. “You’ll hear more about that as we move forward.”

NFTs, or non-fungible tokens, are cryptographically-unique tokens that represent digital content such as artwork, videos or items in video games. The NFT market has boomed in recent months, with volumes on marketplaces surging as brands and celebrities have scrambled to launch their own NFTs.

A kind of Magic
Speaking on the earnings call, Goldner said that revenue from the company’s gaming platforms—including Magic—rose by 7% as “gaming continued to be a focal point for players, consumers and retailers.”

Some of that increased revenue may be down to the ongoing COVID-19 pandemic. Goldner said that Magic is “allowing people to play at a distance who have never been able to reconnect with friends or family before.”