Some Hasbro Exclusives Are Now Only Purchasable Through Crypto Currency
Monday, October 25th, 2021 3:00PM CDT
Categories: Toy News, Company NewsPosted by: william-james88 Views: 64,384
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In any case, here are the details below from Hasbro Pulse. Once again, this was just a heads up to Hasbro's new endeavour since it definitely changes things:
The first-ever Hasbro NFT, part of the WAX Blockchain
Available for purchase from 10/22/21 – 10/24/21 (Only available to US customers. Subject to availability. Limited quantities. While supplies last. Limit 1 per customer.)
Redeem your code on Wax Platform from 10/25/21 – 10/31/21
You will receive the digital token only if the NFT is in your Wax Wallet by 10/31/21 at 11:59PM EST
Redeem the digital token for the ZAP Special Edition Dino Megazord between 11/1 and 11/8 at 11:59PM EST
WAX account required, see FAQ for more information
Includes: 1 Unique NFT, 1 digital Power Coin Token redeemable for 1 Special Edition Dino Megazord with 10 accessories
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Posted by Mindmaster on October 25th, 2021 @ 3:12pm CDT
Posted by TulioDude on October 25th, 2021 @ 3:38pm CDT
Selling the toy through a websiter is already enogh.
Posted by Flashwave on October 25th, 2021 @ 3:43pm CDT
Wouldn’t box tops just be easier?
Posted by william-james88 on October 25th, 2021 @ 3:46pm CDT
TulioDude wrote:I hope this doesn't caught on.It's like a toy designed to be sold only to small circle of people.
Selling the toy through a websiter is already enogh.
I just find the rigamarole really dumb here. So you get an NFT (including getting a digital wallet and having to maintain that) only to then redeem a token for the physical toy. Why?????? Are you spending more than you would because you have to buy an NFT first, so is the megazord not worth 200$?? This is all so odd. Usually, the whole thing with Crypto is that it remains on the blockchain, but the blockchain aspect remains only temporary in this case. Or is that not the case and part always remains online? I just don't get this whole thing.
Posted by -Kanrabat- on October 25th, 2021 @ 3:51pm CDT
Posted by william-james88 on October 25th, 2021 @ 4:03pm CDT
-Kanrabat- wrote:Then, it fail miserably because no one have a clue what the hell this is all about.
It was a success, sold out.
Posted by Hokutron on October 25th, 2021 @ 4:07pm CDT
Posted by Blastback on October 25th, 2021 @ 4:11pm CDT
Flashwave wrote:So let me see if I get this. For $200 I buy a ticket to redeem for one toy and a digital receipt that is worth fake digital money. I can then present that for said toy and then sell the receipt because for some reason that is worth money also?
Wouldn’t box tops just be easier?
couldn't have said it any better.
Posted by william-james88 on October 25th, 2021 @ 4:19pm CDT
Hokutron wrote:Everyone’s off about the NTF thing and I’m just over here like, that megazord is barely worth $60 bucks. I think I remember 200 being the equivalent release price of the SoC megazord...
SOC megazord release price was $300. Also, I think this one has more parts due to higher articulation (though material and paint apps are probably lower quality).
Posted by Mistaken_Table on October 25th, 2021 @ 4:32pm CDT
1. They accept the NFT and make a single toy then and there.
2. Accept the NFT and send the exact reserved toy that's been sat in a warehouse for years.
3. Neither of the above. The toy has been out of stock and out of production for 20 years so your crappy fake bitcoin no longer has any value, let alone enough value to incentivise Hasbro to fire up an archived set of molds to produce 1 unit. They already got the money for the toy they didn't make at Pulsecon '21 when they sold the fake voucher.
I will say though, whoever buys into this is getting what they deserve, whether its a cool black and gold Series 1 Megazord or a voucher that may or may not be worth a Megazord for an undeterminable amount of time depending on how the other vouchers are being used.
Posted by ScottyP on October 25th, 2021 @ 4:34pm CDT
We will be the architects of our own demisewilliam-james88 wrote:-Kanrabat- wrote:Then, it fail miserably because no one have a clue what the hell this is all about.
It was a success, sold out.
Posted by Noname on October 25th, 2021 @ 4:58pm CDT
Mistaken_Table wrote:What I'm wondering is how long can the NFT be exchanged for the toy? What if someone buys the NFT 2nd hand in 20 years then goes to Hasbro to redeem it?
1. They accept the NFT and make a single toy then and there.
2. Accept the NFT and send the exact reserved toy that's been sat in a warehouse for years.
3. Neither of the above. The toy has been out of stock and out of production for 20 years so your crappy fake bitcoin no longer has any value, let alone enough value to incentivise Hasbro to fire up an archived set of molds to produce 1 unit. They already got the money for the toy they didn't make at Pulsecon '21 when they sold the fake voucher.
I will say though, whoever buys into this is getting what they deserve, whether its a cool black and gold Series 1 Megazord or a voucher that may or may not be worth a Megazord for an undeterminable amount of time depending on how the other vouchers are being used.
It states "Redeem the digital token for the ZAP Special Edition Dino Megazord between 11/1 and 11/8 at 11:59PM EST" So you and the customer better be quick if they want to redeem it for the toy.
This whole thing is horrible. They better never do it for TF, ML, or G I Joe.
Posted by Mistaken_Table on October 25th, 2021 @ 5:12pm CDT
It states "Redeem the digital token for the ZAP Special Edition Dino Megazord between 11/1 and 11/8 at 11:59PM EST" So you and the customer better be quick if they want to redeem it for the toy.
Oh god I didn't see that! Who would even take the NFT option then?
So the point of an NFT is just a cryptocurrency. THIS cryptocurrency starts at $200 on November 1st and will be permanently worth $0 on November 9th. What does Hasbro expect to happen in those 8 days? How does anyone make any money off this? Granted Hasbro proffs for every unredeemed voucher, but even then was it worth all the fuss?
Either they are testing the water with NFTs and this is already a written off short-term proof of concept or someone needs to explain NFTs to Hasbro...
Posted by ZeroWolf on October 25th, 2021 @ 5:16pm CDT
Mistaken_Table wrote:It states "Redeem the digital token for the ZAP Special Edition Dino Megazord between 11/1 and 11/8 at 11:59PM EST" So you and the customer better be quick if they want to redeem it for the toy.
Oh god I didn't see that! Who would even take the NFT option then?
So the point of an NFT is just a cryptocurrency. THIS cryptocurrency starts at $200 on November 1st and will be permanently worth $0 on November 9th. What does Hasbro expect to happen in those 8 days? How does anyone make any money off this? Granted Hasbro proffs for every unredeemed voucher, but even then was it worth all the fuss?
Either they are testing the water with NFTs and this is already a written off short-term proof of concept or someone needs to explain NFTs to Hasbro...
I don't think it matters since it's sold out.
No matter how much I read about NFTs I just can't get my head around them and wonder if the perceived advantages of cryptocurrencies is worth the environmental effects...
Posted by william-james88 on October 25th, 2021 @ 5:29pm CDT
ZeroWolf wrote:No matter how much I read about NFTs I just can't get my head around them and wonder if the perceived advantages of cryptocurrencies is worth the environmental effects...
I have never seen any evidence that it is.
Posted by Mistaken_Table on October 25th, 2021 @ 5:34pm CDT
I don't think it matters since it's sold out.
No matter how much I read about NFTs I just can't get my head around them and wonder if the perceived advantages of cryptocurrencies is worth the environmental effects...
NFTs are literally just renamed cryptocurrency, which are stocks in something that DOESN'T EXIST. The currency's value is determined by how much someone is willing to pay for it. Bitcoin got famous and popular so people charged a lot for it. And it sold, making it valuable.
What I don't get here is how does a customer use this NFT? They would need to sell it for more than they paid for it within those 8 days. How much more valuable could it get in 8 days? Just insta-redeem, wait 'til November 9th and charge whatever you want for the actual figure.
As for the environmental ramifications, would I be right in saying there are none for this specific NFT? It can't be generated as there is an exact amount of figures with a coin each. And after 8 days the NFT gets Thanos'd, leaving only the redeemed figures and the money from the sale of the NFTs be it from Hasbro or from 8 days of secondary market sales.
Posted by Cyber Bishop on October 25th, 2021 @ 5:42pm CDT
Posted by Evil Eye on October 25th, 2021 @ 6:04pm CDT
Posted by Burn on October 25th, 2021 @ 6:09pm CDT
You give Hasbro $200.
In return, Hasbro gives you a NFT.
Provided you don't on-sell the NFT before October 24, you would then receive a token/digital code.
You then redeem that token for a physical toy.
You still have the NFT which you can then on-sell to some other idiot who believes paying money for a JPG with a little bit of extra code in it is a brilliant idea.
The idea behind crypto-currencies is a good idea, unfortunately with every man and his dog(e) getting on board it's reaching the point that the good idea is being defeated. More so with the introduction of NFT's which at the end of the day, is more about big corporations trying to get their share of the second-hand market each time something is sold.
Posted by ScottyP on October 25th, 2021 @ 6:22pm CDT
I'm really just hoping it didn't sell well at all, which would hopefully dissuade them from trying this bull with TFs.
Posted by Mistaken_Table on October 25th, 2021 @ 6:25pm CDT
Aw, I thought Hasbro was doing an interesting experiment with cryptocurrencies. @Burn is right, they are selling jpegs to people who will wait for the jpegs to somehow appreciate.
They've finally done it. People are knowingly paying for nothing.
Posted by AcademyofDrX on October 25th, 2021 @ 6:30pm CDT
Posted by Burn on October 25th, 2021 @ 6:54pm CDT
AcademyofDrX wrote:I don't want this to read as crypto apologism, because I think it's a scam and broadly harmful, but personally I think some of the environmental harms have been exaggerated. Bitcoin and Ethereum are incredibly energy inefficient and a legitimate environmental issue, and while all Blockchain and NFT products are wasteful, things like this are on a completely different scale. Hasbro chose a product that claims to be energy-neutral due to purchased carbon offsets, so the while I think the enterprise is still a mistake, it's not quite the same thing as other Ethereum products.
This is correct...ish. The big energy consumption when it comes to crypto-currencies is the mining process itself.
But, you also need computers running to maintain the blockchains that keep track of all the transactions and information.
NFT's are simply a waste of electricity. They require a server to host a JPG that contains a bit of data that says who the creator was and a list of owners. It's such an incredible waste and goes against Hasbro claiming to be environmentally friendly.
Posted by primalxconvoy on October 25th, 2021 @ 8:24pm CDT
I honestly hope this will not catch on, or Hasbro is going to only be selling to a VERY small minority of their potential market.
Posted by TulioDude on October 25th, 2021 @ 8:55pm CDT
The bots that are used on shopping sites would stopped by this system?
Posted by william-james88 on October 25th, 2021 @ 9:08pm CDT
TulioDude wrote:Does this,in theory,stop scalping?
The bots that are used on shopping sites would stopped by this system?
This is instead the perfect opportunity for resellers. They kniw thst not everyone who wants one will go through all this. So they will buy several and resell for as much as they can on the secondary market. Not sure it's exactly the same as scalping but this definitely welcomes opportunistic behaviour.
Someone posted thst they bought 3.
Posted by primalxconvoy on October 25th, 2021 @ 9:20pm CDT
william-james88 wrote:TulioDude wrote:Does this,in theory,stop scalping?
The bots that are used on shopping sites would stopped by this system?
This is instead the perfect opportunity for resellers. They kniw thst not everyone who wants one will go through all this. So they will buy several and resell for as much as they can on the secondary market. Not sure it's exactly the same as scalping but this definitely welcomes opportunistic behaviour.
Someone posted thst they bought 3.
Indeed. It wouldn't surprise me if the scalpers WERE the intended market.
Posted by Burn on October 25th, 2021 @ 10:33pm CDT
william-james88 wrote:TulioDude wrote:Does this,in theory,stop scalping?
The bots that are used on shopping sites would stopped by this system?
This is instead the perfect opportunity for resellers. They kniw thst not everyone who wants one will go through all this. So they will buy several and resell for as much as they can on the secondary market. Not sure it's exactly the same as scalping but this definitely welcomes opportunistic behaviour.
Someone posted thst they bought 3.
So much for that "limit 1 per person" then.
Posted by william-james88 on October 25th, 2021 @ 10:46pm CDT
Burn wrote:william-james88 wrote:TulioDude wrote:Does this,in theory,stop scalping?
The bots that are used on shopping sites would stopped by this system?
This is instead the perfect opportunity for resellers. They kniw thst not everyone who wants one will go through all this. So they will buy several and resell for as much as they can on the secondary market. Not sure it's exactly the same as scalping but this definitely welcomes opportunistic behaviour.
Someone posted thst they bought 3.
So much for that "limit 1 per person" then.
It is? I didn't see that on the site when I checked after I saw the post.
Posted by Burn on October 25th, 2021 @ 10:50pm CDT
william-james88 wrote:Burn wrote:william-james88 wrote:TulioDude wrote:Does this,in theory,stop scalping?
The bots that are used on shopping sites would stopped by this system?
This is instead the perfect opportunity for resellers. They kniw thst not everyone who wants one will go through all this. So they will buy several and resell for as much as they can on the secondary market. Not sure it's exactly the same as scalping but this definitely welcomes opportunistic behaviour.
Someone posted thst they bought 3.
So much for that "limit 1 per person" then.
It is? I didn't see that on the site when I checked after I saw the post.
You literally put it in the story.
Posted by primalxconvoy on October 25th, 2021 @ 11:09pm CDT
Posted by william-james88 on October 25th, 2021 @ 11:47pm CDT
Burn wrote:william-james88 wrote:Burn wrote:william-james88 wrote:TulioDude wrote:Does this,in theory,stop scalping?
The bots that are used on shopping sites would stopped by this system?
This is instead the perfect opportunity for resellers. They kniw thst not everyone who wants one will go through all this. So they will buy several and resell for as much as they can on the secondary market. Not sure it's exactly the same as scalping but this definitely welcomes opportunistic behaviour.
Someone posted thst they bought 3.
So much for that "limit 1 per person" then.
It is? I didn't see that on the site when I checked after I saw the post.
You literally put it in the story.
right right, can't believe I missed it. I expected to see it next to the price or at the end or something like that.
Maybe the person who posted was just messing around, kinda like a joke or something.
I do still see an opportunity for people who could not care much for this toy but knew how to act on this. They could sell the toy (at markup) and keep the NFT. No scalping though.
But I'll be honest, I don't think scalping is as big a deal as some make it out to be. The toys selling for a bunch on the secondary market (like Greenlight, and Siege Skywarp) are toys that did not sell out right away. And sure, for mainline toys collectors are intersted in, it might happen at the begining when a toy comes out, but then they end up available online eventually or in greater numbers in stores (even red card exclusives). But I know, it's a discussion for another place.
Posted by primalxconvoy on October 25th, 2021 @ 11:53pm CDT
william-james88 wrote:Burn wrote:william-james88 wrote:Burn wrote:william-james88 wrote:TulioDude wrote:Does this,in theory,stop scalping?
The bots that are used on shopping sites would stopped by this system?
This is instead the perfect opportunity for resellers. They kniw thst not everyone who wants one will go through all this. So they will buy several and resell for as much as they can on the secondary market. Not sure it's exactly the same as scalping but this definitely welcomes opportunistic behaviour.
Someone posted thst they bought 3.
So much for that "limit 1 per person" then.
It is? I didn't see that on the site when I checked after I saw the post.
You literally put it in the story.
right right, can't believe I missed it. I expected to see it next to the price or at the end or something like that.
Maybe the person who posted was just messing around, kinda like a joke or something.
I do still see an opportunity for people who could not care much for this toy but knew how to act on this. They could sell the toy (at markup) and keep the NFT. No scalping though.
But I'll be honest, I don't think scalping is as big a deal as some make it out to be. The toys selling for a bunch on the secondary market (like Greenlight, and Siege Skywarp) are toys that did not sell out right away. And sure, for mainline toys collectors are intersted in, it might happen at the begining when a toy comes out, but then they end up available online eventually or in greater numbers in stores (even red card exclusives). But I know, it's a discussion for another place.
What? The Earthrise Seekers go for silly money and they were limited to certain physical shops/online sites (such as TT Mall in Japan). For some of us, they were VERY difficult to get, due to not knowing where they were being sold (I thought it was Amazon at the time).
Posted by Immortal Starscream on October 26th, 2021 @ 8:01am CDT
That being said, NFT are the single most idiotic element to come out of crypto ever. It's DIGITAL ART. Oh, you own it? copy/paste SO DOES EVERYONE. It's like the people in the high art community that have paid stupid amounts of money for "invisible art" That's a real thing btw, look it up. People have paid thousands of dollars for literally nothing.
Makes you wonder sometimes... If I put a wad of used toilet paper up for sale as art, and just make up some deep meaning for it, can I get rich? As an actual artist, this kind of thing just irks me.
Posted by primalxconvoy on October 26th, 2021 @ 8:15am CDT
Immortal Starscream wrote:I really wanted this because the megazord itself is awesome sauce. But not enough cash. I will really be sad if this is the only way to get the black and gold version, though given that it is a "redeemable token" makes me think otherwise.
That being said, NFT are the single most idiotic element to come out of crypto ever. It's DIGITAL ART. Oh, you own it? copy/paste SO DOES EVERYONE. It's like the people in the high art community that have paid stupid amounts of money for "invisible art" That's a real thing btw, look it up. People have paid thousands of dollars for literally nothing.
Makes you wonder sometimes... If I put a wad of used toilet paper up for sale as art, and just make up some deep meaning for it, can I get rich? As an actual artist, this kind of thing just irks me.
https://youtu.be/Dw5kme5Q_Yo
Posted by LoserBroadside on October 26th, 2021 @ 8:28am CDT
Posted by william-james88 on October 26th, 2021 @ 11:25am CDT
Immortal Starscream wrote:That being said, NFT are the single most idiotic element to come out of crypto ever. It's DIGITAL ART. Oh, you own it? copy/paste SO DOES EVERYONE.
People get hung up on the art component but it's really minor to this whole thing. It's just a digital investment/asset that can be traded in crypto currency. What matters is its worth in crypto, not the actual art itself. The art simply acts as a representation of your digital asset.
Posted by Burn on October 26th, 2021 @ 5:47pm CDT
Immortal Starscream wrote:Makes you wonder sometimes... If I put a wad of used toilet paper up for sale as art, and just make up some deep meaning for it, can I get rich? As an actual artist, this kind of thing just irks me.
Make a name for yourself as a high profile artist and yes, you would be able to make money from used toilet paper. People will buy anything with a high profile name attached to it.
william-james88 wrote:People get hung up on the art component but it's really minor to this whole thing. It's just a digital investment/asset that can be traded in crypto currency. What matters is its worth in crypto, not the actual art itself. The art simply acts as a representation of your digital asset.
But again, other people can easily save that "art". I can't save a copy of someone's bitcoins.
Posted by snavej on October 27th, 2021 @ 1:16pm CDT
Posted by primalxconvoy on October 27th, 2021 @ 3:19pm CDT
snavej wrote:If the purchase becomes more difficult, some collectors find the exclusives more desirable. I understand. Back in 2002, I was running around London buying Armada and RID from various Toys 'r Us and other shops. It was an effort but it was exciting for a while.
That's why I moved from the UK to Japan; it was easier to get TF toys.
Posted by ZeldaTheSwordsman on October 28th, 2021 @ 3:02pm CDT
I'm tempted to quit giving Hasbro my money altogether, painful though that is with what I've left to collect and some of the upcoming legacy stuff.
Posted by Cola on January 31st, 2022 @ 4:08am CST
Posted by Cola on January 31st, 2022 @ 4:10am CST