The leading manufacturer of trading cards, Topps, is planning to pursue further exposure in the digital space, chairman Michael Eisner confirmed for CNBC's Squawk Box on Tuesday.
The move is prompted by a recent increase in the company's digital operations which has grown to 25% of the company's total business. Moving forward, Topps will continue to pursue further growth opportunities online, and not least through the use of technology such NFTs and blockchain.
In the interview, Eisner said that NFTs are probably “likely to appeal to everybody” and the firm is now planning to go public. Eisner pins a lot of hopes on the digital segment, too, arguing that:
“With blockchain, we’re going to be able to participate in the secondary market. Before, we only participated when we put the analog cards out.”
He is no stranger to embracing innovation. Eisner comes from a position as chief executive at The Walt Disney Company. To go public, Topps plans to merge with a special-purpose acquisition company, also known as SPAC. This would allow Topps to circle around a traditional initial public offering (IPO) process which is often filled with many challenges.
“This is the icing on the cake — going digital completely, with the analog still in place,” Eisner added. NFTs have been truly making their mark on pretty much everything. Gaming projects such as ENJIN have decided to go the NFT road and so has Justin Sun, the founder and CEO of the Tron Foundation.
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