Bank of America is one of the largest and most well-known banks in the United States. It was founded in 1904 and is headquartered in Charlotte, North Carolina. The bank offers a wide range of financial products and services, including consumer banking, wealth management, investment banking, and corporate banking. One of the standout features of Bank of America is its commitment to innovation and technology. The bank has embraced the digital age and continuously looks for ways to improve its customer experience through technology. One of the ways it has done this is through the development of its digital assistant called "Erica.
The snafu by Hasbro validates BofA's view that management at the toy company remains willing to risk customer loyalty for short-term profit.
The primary concern is that Hasbro has been overproducing Magic cards which has propped up Hasbro s recent earnings results but is destroying the long-term value of the brand, Bank of America analyst Jason Haas wrote in November. Then, the other part of the equation, according to Bank of America, is that Hasbro should expand the player base instead of just trying to get as much money from the current player base as possible.
One of the ways it has done this is through the development of its digital assistant called "Erica." Erica, also known as "Bank of America's Magicc," is an AI-powered virtual assistant that helps customers with their banking needs. Customers can interact with Erica through the Bank of America mobile app or website.
Bank of America report on Hasbro sparks fears about Magic: The Gathering’s long-term future
Player concerns become the center of widespread conversation.
Image via Christopher Rush/Wizards of the CoastWizards of the Coast’s parent company Hasbro came under the microscope this week when a Bank of America analysis report dropped on CNBC outlining concerns with the company’s stock in the future with a particular focus on how several issues within Magic: The Gathering could lead to the degradation of the brand.
Analyst Jason Haas went into how Hasbro is “killing its golden goose.”
This is being done by the rapidly increased production of Magic products hurting the long-term value of the brand as a whole.
While Hasbro has touted its astronomical successes, spearheaded by Wizards of the Coast, its stock was downgraded by Haas to “underperform” for the future. Haas adds in the report that other decisions that contribute to the larger problem are the Magic 30th Anniversary Edition proxy cards unnerving collectors and product fatigue.
This is creating an environment where it could be players will be pushed hard enough that the brand will be damaged as a result, weakening the viability of investing.
The report sparked a conversation that rippled throughout the Magic community and renewed discussion on longstanding concerns about the current product output by Wizards of the Coast. While the report isn’t necessarily from the point of view of players but financial analysts with an eye on Hasbro as an investment vehicle, many of the topics outlined are typical issues cited in online discussions surrounding Magic.
Compared to other trading card games on the market, Magic has a busy release schedule filled with somewhat essential products that are relevant to various products. This is often cited as fans being tired of perpetual preview season. With the rapid-fire release schedule, there’s generally always another preview around the corner.
This year Magic has released 11 standalone tabletop products with only three not being full draftable booster sets.
Those are the Commnader Collection: Black, Universes Beyond: Warhammer 40K Commander decks, and Jumpstart 2022, a sealed product meant to be a self-contained play experience.
The full booster sets released this year are:
- Innistrad: Double Feature
- Kamigawa: Neon Dynasty
- Streets of New Capenna
- Commander Legends: Battle for Baldur’s Gate
- Double Masters 2022
- Dominaria United
- Unfinity
- The Brothers’ War
This list does not include the Secret Lair drops and Arena releases that consistently happen throughout the year. It’s been a steady hike since the current Magic boom that could be marked with the release of Dominaria in 2018. Since then, the Wizards of the Coast has been at the forefront of Hasbro’s financial calls, bringing in over a billion dollars of revenue between both Magic and Dungeons and Dragons.
The report also comes off the back of a conversation started by game designer Aaron Forsythe asking why Standard has basically died at the local game store level. Since the release of Magic Arena, Standard has been on a steady decline as a tabletop format and largely exists through digital play on Arena and to a lesser extent Magic Online.
Many fans blamed a variety of reasons why Standard is on the downswing on the tabletop. Some players credit the exorbitant price of Standard decks, which regularly sit around $300 to $400.
According to the Standard metagame page on MTGGoldfish, of the top five lists in the most recent Standard Magic Online league, only two decks are under $300, if they were purchased in paper. Standard decks being expensive is an issue because set rotation renders the deck inevitably obsolete and Magic Arena has made it easy to play for free or with little cost.
The expense of buying into other eternal formats is a notable concern with a focus on Modern, where decks regularly blow past the $1000 mark powered by infrequently reprinted cards and the newer powerhouses printed in Modern Horizons 2. However, eternal formats like Pioneer, Modern, and Legacy will never rotate and the metagames shift significantly slower compared to Standard.
Players that buy into these MTG formats are much more likely to have a deck that’s viable for years with only a few upgrades being necessary every few months.
While this has been an issue for the entire lifetime of Standard, the cost of Magic, in general, has gone up as Daniel Crabtree points out when replying to Forsythe. That cost increase combined with the pandemic hurting local game stores were common replies to why Standard has fallen out of favor.
With the report, many of the issues surrounding Magic have entered the conversation again and brought the community together to talk about what could be fixed.
Wizards of the Coast will likely not change anything in 2023 with its release calendar already established with more Universes Beyond, Secret Lair, and Standard Expansions coming down the pipeline.
About the author Xavier JohnsonMy name is Xavier Johnson and I'm a freelance writer who covers Magic: The Gathering. I love control decks and my favorite card is Teferi, Hero of Dominaria.
Given how expensive MTG can be, falling prices are something that many a player can get excited about. However, other Reddit users such as u/Crulo warned that over-printing MTG still has potentially expensive consequences. “All that model leads to is WotC just releasing all-new, more powerful stuff every set in order for people to buy the new sets. The most expensive cards may be $5-$20, but you just have to rebuy everything every set. […] It’s a collectible and a game. It’s not just a game. And collecting (maintaining and building value) is how many people primarily engage with this hobby.”
Erica can assist with a variety of tasks, such as checking account balances, transferring money, paying bills, and even providing financial insights and guidance. Another key feature of Bank of America is its focus on financial education and empowerment. The bank provides resources and tools to help customers make informed financial decisions. This includes educational articles, videos, and interactive tools that cover topics such as budgeting, saving, credit management, and investing. In addition, Bank of America is committed to making a positive social impact. The bank has a strong focus on corporate social responsibility and actively supports various environmental, social, and governance initiatives. This includes investing in renewable energy projects, supporting affordable housing initiatives, and promoting diversity and inclusion in the workplace. Overall, Bank of America is a leading financial institution that combines innovation, technology, and a commitment to social responsibility. Through its digital assistant Erica, the bank offers customers a convenient and personalized banking experience. With its range of products, services, and commitment to financial education, Bank of America strives to empower customers to achieve their financial goals and make a positive impact on society..
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