What investors can learn from LEGO’s success: Charles Payne
Charles Payne on LEGO success
A LEGO fan has submitted a wildly popular product design that’s inspired by the GameStop investment storm from earlier this year.
Berlin-based father of two, Michael Natus, submitted a rendered LEGO design of a GameStop store sitting on top of the moon to the toy brick company’s dedicated pitch website – LEGO Ideas.
Under the username MCHLN, Natus created a classic GameStop store out of digital bricks, which includes five mini-figures, a graffiti-covered exterior wall and a decorated interior.
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The design’s setting and one of its figures appear to be references to terms that are commonly used in Reddit communities like WallStreetBets and other forums dedicated to investing.
Participants in these communities tend to use the expressions "to the moon" and "apes together strong" in reference to stocks that are expected to go high, especially in circumstances where retail stocks are heavily shorted, which is similar to what happened to GameStop’s stock earlier this year.
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While Natus noted in his submission description that his creation is "not a political statement whatsoever," he has received support from thousands of Redditors and Twitter users who recall the GameStop investing bonanza.
GameStop’s Board Chair Ryan Cohen, who is also the CEO of Chew Inc. shared Natus’ creation from the LEGO Ideas page on Thursday with: "I [heart] this."
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"I was blown away by the reaction to the project, especially when Ryan Cohen tweeted about it. And honestly, I still am," Natus tells FOX Business. "I am fascinated by what happened and still happens with this beautiful stock called GME. Building the LEGO project was my way to pay respect to the communities that emerged within the GameStop saga."
Through LEGO Ideas, fans and designers get to submit potential sets to The Lego Group for commercial production.
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"LEGO Ideas is a platform where fan designs have a chance to become real LEGO sets. Users share their original designs with the hope of garnering support from the community," a spokesperson for LEGO wrote to FOX Business. "Once a design reaches 10,000 votes, it goes into review by LEGO Group for a chance to become an official LEGO product."
In the last week since Natus uploaded his design, it has surpassed 10,000 votes and has received more than 925 comments. The LEGO Group explained to Natus that the company will begin its review process in September, according to a public comment it left on Friday.
Natus wrote to FOX Business on Monday saying: "Whether it will become produced or not, I somehow managed to become a part of this saga and that’s just bananas, so to say."
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Representatives at GameStop declined to comment.
Accepted LEGO designs award the original creators royalties that are equivalent to 1% of total net sales, according to guidelines on LEGO Ideas.
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