Hello Steemians! For those of you who don't follow me yet, I'm Missy, and I'm a Magic: the Gathering content producer. This is the first installment of a multi-part series about the secondary financial market for Magic cards. I won't go too in-depth in the articles, as they're intended to be a layman-friendly primer on the topic, but I welcome discussion, debate, and critiques in the comments!
A Brief Introduction to Magic the Gathering
...and why there's a secondary market
Magic: the Gathering is the original collectible trading card game, designed in the early 90's by Richard Garfield and published by Wizards of the Coast (creators of Dungeons n Dragons). Fast forward 24 years, and Wizards of the Coast is a subsidiary of publicly traded toy mogul Hasbro, with Magic consistently showing growth in quarterly earnings reports.
In the 2 decades since the inception of Magic: the Gathering (M:tG), we've seen many fads come and go in the collectibles market--Beanie Babies and Webkinz, for example--and the rise (and sometimes fall) of trading card games like Pokémon and Yugioh. Collectibles are notoriously risky and volatile investments, yet Magic cards have managed to become a reliable way for many Magic players to subsidize their hobby (at the very least), and in some cases, generate a lucrative income (aka pay their bills) by speculating on cards.
What sets M:tG apart from other collectible industries? In a nutshell, excellent management of the Magic: the Gathering brand by Wizards of the Coast (WotC). To maintain interest in the game (and preserve the financial value of players' card collections), WotC created a multi-level play experience. The vast majority of Magic players are casual or "kitchen table Planeswalkers", meaning that most of their play is at home with friends and family. The next level of involvement is local game store organized play. WotC sponsors a variety of events through their network of independent retailers (local game stores or LGS) that promote their products while building a local network of players who in turn drive excitement for the cards and new products. Once a player has mastered the game, WotC has an international Pro Tour where, similar to the World Series of Poker, the best players in the world compete for their share of impressive prize pools.
By appealing to players at all levels and actively working to grow and diversify their customer base, Wizards of the Coast has not only created an enjoyable pastime, but a unique, thriving secondary market that allows players to generate an income while doing something they love.
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Next up: why I started flipping and speculating cards
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--Missy