According to reports, Hasbro and Zynga, which are competitors in the online videogames arena, have entered into a partnership in the physical world of toys and board games.

Going by the terms of the partnership announced on Thursday, Scrabble- and Monopoly-maker Hasbro will develop a new line of toys as well as games based on Zynga's highly popular online offerings, including "Mafia Wars" and "FarmVille." The first of the products from Hasbro will hit the markets this fall.

The pact which Hasbro has signed with Zynga for creating toys and games is quite similar to the one which its rival toy bigwig Mattel had signed with Rovio, to reap huge benefits from its merchandise such as the Angry Birds board game.

Hasbro has grabbed the notably lucrative licensing opportunity by signing a deal with Zynga at a time when Zynga's games have been witnessing outrageous popularity on the Facebook social network; and Zynga has seen stupendous growth with an increasingly massive user base on mobile platforms, boasting as many as 227 million active monthly players.

Noting that the online games from "reach a lot of people," and citing the Mattel example to highlight that "some of the games translate well into the physical world," analyst Sean McGowan - from Needham & Company - said about the potential prospects for Hasbro: "Building a farm or a city, for example, could be a good board game."