40s fantasy novels provided a foundation for modern fantasy literature. They introduced readers to fantastical elements like dragons, magic, and mythical creatures that are now staples. The storytelling techniques used, such as the episodic adventures in 'The Hobbit' or the multi - volume epics like the early Narnia books, have been adopted and refined in modern fantasy. Additionally, the 40s novels often had a sense of discovery and wonder that modern authors try to capture. The blend of different mythologies and cultures in some 40s works also influenced the multicultural approach seen in a lot of contemporary fantasy.