Even Wall Street can’t believe how greedy MTG has gotten

Magic: The Gathering card for "greed" shows a king spitting out gold.

It feels like every other week Magic the Gathering reveals a wild new crossover set or promotional release. And that’s because it kind of is. Fans started stewing over the onslaught earlier this year, and now even Wall Street is starting to balk. Bank of America downgraded shares of toy company owner Hasbro earlier today after accusing it of killing “its golden goose” with greed.

“The main concern is that Hasbro has produced too much magic Cards that have supported Hasbro’s recent results but destroy the brand’s long-term value,” Bank of America analyst Jason Haas told clients today reported by CNBC. He specifically aimed at what was to come 30th Anniversary Set contains booster packs, some of which will contain reprints of valuable out-of-print cards from the early years of the trading card game. “This set has canceled many high-quality cards, and collectors are concerned that Wizards will reprint more,” Haas wrote.

A similar message is plastered across MTG fan forums since the set was unveiled in early October. Collectors were upset that the publisher Wizards of the Coast might be sabotaging the value of their most coveted cards like this one infamous Black Lotus worth hundreds of thousandswhile fans were frustrated that the 30th anniversary set only includes four booster packs for $1,000, essentially turning the storied history of the popular card game into the worst loot box of 2022.

However, when these sentiments are echoed by a Wall Street analyst, the market takes notice. Hasbro, which has owned Wizards of the Coast since 1999, saw its stock price slide over 5 percent in premarket trading Monday morning on top of an already terrible year (trading at $102 at the start of 2022, Hasbro shares are now down below $60).

MTG has traditionally released only three new decks per year. More recently, however, the series has branched out with new regular sets branded “Beyond Universes” Crossover sets, Secret Lair reissues and other expensive products. Since early 2022, Wizards have swamped the zone Kamigawa: Neon Dynasty, Streets of New Capenna, Commander Legends: Battle for Baldur’s gatedouble master 2022, Dominaria Unitedand Warhammer 40,000. A new set called The War of the Brothers is coming later this week, and with it special new maps based on transformers.

“That’s at least seven products in seven months, which is absurd,” wrote Joe Parlock at The player in May. “The release schedule has limited that sense of discovery to just a month before the hot new thing rolls around and people burn out. What’s the point of looking at these new cards when there’s something new coming up anyway?”

Unfortunately it doesn’t look like it MTG The rush will likely subside soon. 2023 should also be stacked. That’s when the Lord of the rings and Doctor Who Cards fall followed by Final Fantasy VII and Assassin’s Creed Mini sets in 2024. The Cooperation with McDonald’s can’t be far behind.

https://kotaku.com/mtg-30th-anniversary-black-lotus-transformers-warhammer-1849779811 Even Wall Street can’t believe how greedy MTG has gotten

Curtis Crabtree

Curtis Crabtree is a 24ssports U.S. News Reporter based in London. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. Curtis Crabtree joined 24ssports in 2021 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing: curtiscrabtree@24ssports.com.

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