WWE Ties Up With Fox Leisure to Go Large on NFTs

Simply in time for Survivor Collection, WWE and Bento Field Leisure introduced at present the launch of a brand new line of NFTs in a multi-year cope with Blockchain Artistic Labs.

Launched earlier this yr by Fox Leisure, Blockchain Artistic Labs beforehand launched an NFT line based mostly on the favored singing competitors, The Masked Singer, earlier this month. Like these NFTs, the WWE collectibles are additionally on the Eluvio blockchain.

In June, Fox Leisure introduced it had invested $100 million in its new blockchain division. The WWE NFT drop is the primary one from Blockchain Artistic Labs that’s based mostly on a property not owned by Fox Leisure. The WWE entered right into a five-year media and broadcasting cope with Fox in 2018.

An NFT is a singular kind of token that can be utilized to characterize possession in a digital merchandise. On this case, every of those tokens can be tied to photographs of previous and current WWE Superstars, occasions like Wrestlemania and SummerSlam, and different iconic moments. The NFTs can be listed on the WWE’s NFT Market.

Based on Fox Leisure, followers might want to create a digital pockets by means of Eluvio that may act as their NFT vault. Fox says followers should buy collectibles utilizing debit playing cards, bank cards, and cryptocurrency.

Fox is evidently intent on making a giant push into the NFT market, and it might be simply the beginning of the WWE’s involvement within the area as effectively. “This new partnership permits us to deepen our relationship with FOX, as we proceed to discover new and artistic methods to interact our passionate fanbase,” mentioned Scott Zanghellini, WWE’s senior vice chairman of income, technique, and growth, in a press launch.

The wrestling leisure firm had beforehand dabbled with NFTs earlier this yr, releasing Undertaker collectibles forward of Wrestlemania in April. These NFTs are presently out there to commerce on OpenSea.

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