Ones and zeros are also a brick – Is LEGO building on NFTs?
A mysterious tweet from the toy manufacturer suggests that it may be planning its own „digital currency“.
LEGO, the Danish clamp brick manufacturer that has recently hit the headlines again in Germany because of its legal dispute with the YouTuber „Hero of Bricks“, is Bitcoin Billionaire apparently planning a foray into the crypto industry. LEGO’s official Twitter account hinted at this on Wednesday, but the tweet in question was immediately deleted. In this same message, in addition to the hashtag #NFT, there was also a short video saying: „Only ones and zeros, but still a brick.“
This could be a reference to a LEGO NFT
As a reminder, NFTs, or non-fungible tokens, are crypto tokens that literally have „no fungibility“ due to their design. Each NFT is therefore unique or cannot be duplicated, which makes this form of digital securitisation an interesting vehicle especially for collectibles and art.
Although the 14-second video does not directly allude to an NFT, it features a three-dimensional LEGO brick that is overlaid with digital distortions before disappearing again. The LEGO-YouTuber Ashnflash suspects that this could be a teaser for a „LEGO digital currency“. However, a cryptocurrency would not be the same as NFTs, even if there are connections between the two.
The supposed leap into the future, however, is not well received by all fans of the Danish toy manufacturer. Critics cite the aspect of sustainability and environmental friendliness in particular. Some Twitter users express concerns that LEGO NFTs could be „bad for the planet“, which is also incompatible with LEGO’s own corporate goals.
This criticism is also becoming louder about the current hype around NFTs, because the computing power needed to produce the digital coins goes hand in hand with high power consumption, which in turn pollutes the environment. However, the industry is already working on alternative methods that consume far less energy.
Regardless of whether LEGO now backs down or puts its money where its mouth is, crypto users can already buy NFTs of clamp bricks and related items. On the NFT marketplace OpenSea, for example, a token is currently for sale that depicts a toy figure of the Breaking Bad main character Heisenberg.