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WWE announced that the collaboration will help to produce licensed digital WWE tokens and collectibles that showcase WWE superstars and iconic moments. WWE is also publicly listed on New York Stock Exchange (NYSE). The launch date and the name of the WWE’s NFT marketplace will be revealed in the coming weeks, Bitcoin.com reported.
The three entertainment companies will materialise the creation of NFTs in the following manner :
- A dedicated marketplace for licensed WWE non-fungible tokens (NFTs) and NFT collectibles will be launched.
- The collaborative endeavour will result in the creation of authentic NFTs that celebrate the company’s entire catalog of digital assets.
- The NFTs will feature Summerslam, Wrestlemania, Iconic Moments, and WWE Superstars.
- WWE superstars will be showcased alongside premier events such as Summerslam and Wrestlemania.
- The WWE NFTs will be powered by Eluvio’s blockchain technology in the similar way as the The Masked Singer NFT marketplace.
- Eluvio will authenticate the WWE NFTs and they will be interoperable across Ethereum and other blockchains according to the announcement.
This is the second deal of WWE with Fox Entertainment. In an earlier deal in 2019, Fox Sports started broadcasting the WWE show Friday Night Smackdown, which is still aired every week. The Smackdown shows will also play an important role in promoting the marketplace to WWE fans, Bitcoin.com reported quoting the official announcement.
WWE’s senior vice president of revenue strategy and development Scott Zanghellini said that the partnership will bolster WWE’s relationship with Fox Entertainment. It will allow the wrestling company to explore new and creative ways to engage with their passionate fanbase, he added.
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