The Opportunities for Play-Doh Are Endless
You can take Dogecoin or your Bitcoin, but Play-Doh is here to stay. Sales of Hasbro’s consumer products division, which includes Play-Doh, were up a whopping 14% this quarter as kids were stuck at home and needed to be entertained.
The opportunities for Play-Doh seem infinite. Hasbro has announced plans for a motion picture for the iconic toy brand with Paul Feig, director of “The Office” and “Bridesmaids”. This could create all new characters for kids to be invested with and want a part of. Also, the rise of NFTs leads to other avenues. CEO Brian Goldner is intrigued by taking advantage of Hasbro’s intellectual property for the NFT market. As Hasbro can find ways to grow Play-Doh for children, the NFT market provides a path for adults to be invested as well.
Play-Doh isn’t going anywhere and this seems like the beginning. Who knows if we’ll see a Play-Doh cryptocurrency at some point, but perhaps Hasbro can use the iconic brand for a new-wave art, competitions and even as a therapeutic method.