WWE launches NFT partnering with Blockchain Creative Labs
World wrestling entertainment producer WWE announced a multi-year deal with Blockchain Creative Labs to introduce a new line of Non-Fungible Token (NFT) in the marketplace. Blockchain Creative Labs is a new creative studio and NFT business owned by Bento Box Entertainment and FOX Entertainment.
The NFTs which are virtual collectibles related to real-world artwork here will hold to images of past and present iconic wrestling events. In homage to these features licensed collectible items will capture memorable moments including WWE Superstars and events such as Wrestlemania and SummerSlam, and other iconic moments. On the WWE’s NFT Marketplace these NFTs will be listed. To take part in the WWE NFT marketplace the fans need to get access to the WWE digital wallet by creating a digital wallet on the Eluvio blockchain. It will act as their NFT vault. It will allow fans to buy collectibles using traditional currency, debit cards, credit cards, or cryptocurrency. WWE Senior Vice President, Revenue Strategy and Development Scott Zanghellini said, “This new partnership allows us to deepen our relationship with FOX, as we continue to explore new and creative ways to engage our passionate fanbase,”
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Earlier launches by WWE:
Earlier this year WWE launched its first NFTs that featured The Undertaker. WWE followed up with John Cena NFTs ahead of SummerSlam season earlier this year. Connecting with Bitski both the NFTs were dropped.
The previous pact between WWE and Fox:
Before this deal, WWE and Fox were into a five-year media and broadcasting deal with Fox in 2018 that led “Friday SmackDown Live” from the USA to Fox Broadcasting beginning in October 2019. According to companies in promoting the NFT marketplace to WWE fans “SmackDown Live” on Fox will play an important role.
Earlier this month Blockchain Creative Labs released an NFT line focussed on the popular singing competition, The Masked Singer. Fox Entertainment declared that for its new blockchain division in June an investment was made of $100 million.