Hasbro has found another intriguing way to take back possession of its Nerf brand — today, it’s launching what it calls Nerf’s “first-ever official sport,” a game called Nerfball.

Get your stockpile of foam blasters ready and prepare for the ultimate Nerf battle. Hasbro, the toy company that owns Nerf blasters and related merchandise, announced this week that a Nerf Action ...