Surprising everyone during Hasbro’s 2021 First Quarter Financial Results Conference Call, Hasbro CEO Brian Goldner stated that the company is looking forward to generating NFTs (Non-Fungible Tokens) based on Hasbro properties such as Transformers and G.I. Joe.
“NFTs are a real opportunity for us. As you know we have so many brands that really operate on multiple demographic levels; whether it’s Transformers, whether it’s Magic [The Gathering] 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.”
For those who do not know, a non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with proof of ownership that is separate from copyright. The NFT market value tripled in 2020, reaching more than $250 million.
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