Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs

Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs

Tuesday, April 27th, 2021 3:47pm CDT

Category: Company News
Posted by: william-james88   Views: 22,848

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Hasbro made a big splash when they announced that they were aiming to phase out plastic usage. This was picked up by many news sties beyond our Transformers community. We have seen some of these initiatives with the Kingdom line using less plastic than previous lines for their window.
However, this new announcement seems to be going in the opposite direction.

You can read Hasbro CEO Brian Goldner's quote below, coming from their first Quarter Financial Results Conference Call, where he states that Hasbro is currently looking into opportunities in the NFT (non-fungible token) market and pairing it with their properties, of which Transformers is called out by name.

Now, for those unaware of what an NFT is, in layman's terms, it is a digital file that is encrypted using a blockchain so that only the owner can have access to it. Now a block chain is the very same kind of system that is used in crypto currency where currency is mined by powerful computers solving an equation that grows in complexity to the point where a big part of the worth of whatever you are mining is equal to how much it is costing you to mine it (hence why it is always more expensive to mine for more Bitcoin). Of course, this ever growing need for more powerful computers means that the energy used for the creation of an NFT is immense and more than any of us would consume in electricity in a month. You can read more about those impacts here. These NFTs are traded similarly to crypto currency, the difference here is that the copyright of the image is retained by Hasbro who would get a percentage of the value these NFTs are sold for every time one person buys it from someone else. Meaning once an NFT is on the market, the copyright holder (Hasbro) can accumulate wealth in perpetuity without ever being involved again in the process.

“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.”

Transformers News: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs


This article was last modified on Tuesday, April 27th, 2021 4:35pm CDT

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Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103155)
Posted by Burn on April 27th, 2021 @ 4:04pm CDT
A fool and their money are soon parted.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103157)
Posted by Mindmaster on April 27th, 2021 @ 4:10pm CDT
I’m still not entirely sure how this not environmentally friendly. If it’s digital, how does it hurt the environment?

^totally ignorant about these kind of things
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103158)
Posted by Burn on April 27th, 2021 @ 4:12pm CDT
Mindmaster wrote:I’m still not entirely sure how this not environmentally friendly. If it’s digital, how does it hurt the environment?

^totally ignorant about these kind of things

Maybe click the link in the news article and read up on it?
TL:DR Crypto transactions (which is what NFT's are) use a lot of electricity.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103161)
Posted by SnufflesTheb0t420 on April 27th, 2021 @ 4:23pm CDT
so uh

explain it to me like im 4 because idk what this means

:lol: :lol:
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103162)
Posted by william-james88 on April 27th, 2021 @ 4:31pm CDT
SnufflesTheb0t420 wrote:so uh

explain it to me like im 4 because idk what this means

:lol: :lol:


I really tried to explain it as clearly and succinctly as I could in the article.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103163)
Posted by o.supreme on April 27th, 2021 @ 4:32pm CDT
I know that people (under normal conditions) travel all over the world to see original works of art in prestigious museums. I am not one of those people. If I wanted to see a picture of the Mona Lisa, there are plenty of them online. If I wanted to own one, a facsimile is fine.

Not sure what the prestige is of owning a "digital" copy of something that a million other people basically have, and can obtain, even if you have the right to say you are the one true owner, not sure how that is satisfactory or beneficial.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103171)
Posted by cloudballoon on April 27th, 2021 @ 4:54pm CDT
Mostly bragging right and art (whatever form it may be) as investment. Don't think overly-rich people buying up Picasso's all care for the artistic merit of an artwork. I'd wager an absolutely miniscule percentage of them are bona fide art lover.

And NFT is paid for by crypto. Which takes a huge (and ever larger) amount of energy to generate. So basically Hasbro makes their NFT profiting of huge amount of energy consumption needed to generate these cryptos, that's the non-eco-friendly point.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103172)
Posted by DeathReviews on April 27th, 2021 @ 4:56pm CDT
What choice do they have, really? Other toy lines have proven that no matter how securely you lash the toy into a box that allows access to the figure, customers (especially kids) are going to mangle it with their filthy touch stumps. Nobody wants to buy a figure that's got little Johnny's snotty fingerprints all over it, no matter how cute he is.

Putting them in sealed boxes may be an option, but with Hasbro's Selects line, all that's done is multiply the amount of cardboard they use. They put the box inside of another box and put those into another box. They just replace plastic waste with paper waste and slaughter forests of trees, which makes the environmentalists even madder.

Having smaller plastic windows probably won't help much either. To quote your mortal Confucious, "Try to please all and you please none."
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103173)
Posted by That_Guy on April 27th, 2021 @ 4:57pm CDT
this should help explain it


Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103174)
Posted by DeathReviews on April 27th, 2021 @ 4:59pm CDT
Mindmaster wrote:I’m still not entirely sure how this not environmentally friendly. If it’s digital, how does it hurt the environment?

^totally ignorant about these kind of things



Because digital means electric. Electric means using electricity. Using electricity (supposedly) is bad because solar and wind have NOT evolved to the point that they are feasible for powering large towns and cities. It's barely a drop in the energy bucket. So electricity - means coal, oil, gas or nuclear. Which drives environmentalists berserk.

So - there's really NO way to make anybody happy on this issue.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103175)
Posted by william-james88 on April 27th, 2021 @ 5:01pm CDT
o.supreme wrote:Not sure what the prestige is of owning a "digital" copy of something that a million other people basically have, and can obtain, even if you have the right to say you are the one true owner, not sure how that is satisfactory or beneficial.


The art itself is almost irrelevant. People are owning it only due to the fact that it is crypto currency. So the question you should ask instead is "why are people owning bitcoin, or dogecoin or Ethereum tokens?" and whatever that answer is, it's the same reason people are buying these NFTs.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103176)
Posted by Burn on April 27th, 2021 @ 5:04pm CDT
SnufflesTheb0t420 wrote:so uh

explain it to me like im 4 because idk what this means

:lol: :lol:

NFT's are just another way rich people can brag about owning stuff.

The stupid part about it is it can consist of JPG's, MP3's ... anything that is in electronic format.

Anything that everyone can also have access to thanks to the wonders of pirating (NFT's are supposed to be unique things. HA!)

The only difference is these people actually "own" the digital file and it can be bought and sold. When such a transaction takes place, the original copyright holder (e.g. Hasbro) get a % of that sale regardless of how many times it changes hands.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103192)
Posted by ScottyP on April 27th, 2021 @ 6:56pm CDT
There are better descriptions in this thread, but my two cents/how my brain compartmentalizes NFTs - they're like trading cards that everyone can have if they want but only one person gets to resell it at any given point.

I also think of them like assets under custody, but if you wanted to go make it tangible like a cash withdrawal, you can't. Unless you sold it and then did that to whatever other asset you acquired for selling it.

Or think of them like a vehicle for risky investment by cyptobros, which to me is funny but oversimplifying it grossly.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103196)
Posted by Bumblevivisector on April 27th, 2021 @ 7:14pm CDT
Never heard of NFTs until The Daily Show did a segment on them about 2 weeks ago.

I couldn't help but view them as the digital pet-rocks of our time.

Not that I can blame Hasbro or any company for pouncing on a new way to milk their IP for perpetual cash, but it seems like the current apex of stupidity for e-commerce, leaving me looking forward to a collapse of cryptocurrency not caused by the destruction of the internet itself.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103205)
Posted by -Kanrabat- on April 27th, 2021 @ 8:42pm CDT
What's the point of NFT though? Is it just making money out of NOTHING and people buy NOTHING and sell NOTHING but somehow they make money that way?

All this nonsense will backfire sooner or later making all kind of money totally useless and worthless because the value of "money" will have NOTHING to back it up.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103250)
Posted by william-james88 on April 28th, 2021 @ 12:03am CDT
-Kanrabat- wrote:What's the point of NFT though? Is it just making money out of NOTHING and people buy NOTHING and sell NOTHING but somehow they make money that way?


Stocks aren't all that different. Look at the gamestop stocks, people have made AND lost millions this past year but the company itself didn't change in the least. Its just placing your money in a digital asset, hoping you can resell it for more.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103251)
Posted by william-james88 on April 28th, 2021 @ 12:06am CDT
Bumblevivisector wrote:
Not that I can blame Hasbro or any company for pouncing on a new way to milk their IP for perpetual cash, but it seems like the current apex of stupidity for e-commerce


I completely get why Has to would be interested, what I wanted to point out was their hypocrisy here since they keep talking about being green and wanting to do more for the environment.
This must goes against all of that.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103254)
Posted by Burn on April 28th, 2021 @ 1:09am CDT
william-james88 wrote:
-Kanrabat- wrote:What's the point of NFT though? Is it just making money out of NOTHING and people buy NOTHING and sell NOTHING but somehow they make money that way?


Stocks aren't all that different. Look at the gamestop stocks, people have made AND lost millions this past year but the company itself didn't change in the least. Its just placing your money in a digital asset, hoping you can resell it for more.

There's spending 100K on shares, which may go up, may go down, it's a gamble.

And then there's spending 100K on a JPG.

Take the 100K, invest in a high quality printer, print that shit off and enjoy it by flashlight when the power goes off.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103261)
Posted by -Kanrabat- on April 28th, 2021 @ 4:41am CDT
Burn wrote:
william-james88 wrote:
-Kanrabat- wrote:What's the point of NFT though? Is it just making money out of NOTHING and people buy NOTHING and sell NOTHING but somehow they make money that way?


Stocks aren't all that different. Look at the gamestop stocks, people have made AND lost millions this past year but the company itself didn't change in the least. Its just placing your money in a digital asset, hoping you can resell it for more.

There's spending 100K on shares, which may go up, may go down, it's a gamble.

And then there's spending 100K on a JPG.

Take the 100K, invest in a high quality printer, print that **** off and enjoy it by flashlight when the power goes off.


I can understand the stock market. It's been more than 100 years since it's a thing and it serve to make a company grow. But that Jpeg thing? It's like collector cards that don't even exist and their sole purpose is that they are "worth" something.

I'll be laughing when no one care anymore and/or the servers come crashing down, making that nothing worth exactly as what it's actually is as you say.
Re: Hasbro Backtracking on Being Environmentally Friendly with Interest in Transformers NFTs (2103266)
Posted by TOO MUCH ENERGON! on April 28th, 2021 @ 7:07am CDT
Personally I see NFTs as being the ultimate example that some people just have too much fucking money.

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