WWE Once Inked a Deal With Upstart Blockchain Company to Add More Star Power to an Exciting Project in 2021

Wrestling fans are quite fond of memorable moments. Be it Hulk Hogan finally beating Andre The Giant at WrestleMania 3, or Seth Rollins performing ‘The Heist Of The Century by cashing in his Money In The Bank contract at WrestleMania 31. The history of WWE is filled with a plethora of moments that are unforgettable for its fans and admirers. Fans regularly display their love for the promotion by purchasing their favorite superstar’s merchandise, memorabilia, and also replica belts.

WWE is never behind in cashing in their superstars’ popularity by regularly launching merchandise to boost their revenues. Yesteryears wrestlers such as The Rock and ‘Stone Cold’ Steve Austin have been known to be merchandise magnets.

Collecting the products associated with their favorites not only allows the fans to be closer to them. But also allows them to flaunt their prized possessions.

The changing times have brought a shift in ways to own or sell various properties associated with a brand or famous personality. The demand for digital assets has increased tremendously in the past few years. And NFTs or Non Fungible Tokens are among the latest method to trade or sell any property to willing buyers digitally. The advent of the NFTs can be traced back to 2014, but its popularity only gained momentum from 2020 onwards.

The WWE entered the NFT world in 2021

The wrestling juggernaut, WWE also jumped on the bandwagon in 2021 as the promotion would have seen an opportunity to benefit from the NFT wave. It entered into a deal with Blockchain Creative Labs, in order to kick-start a single NFT marketplace for digital WWE tokens and collectibles. The promotion would also license these NFTs.

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The purpose of the deal was to stay ahead of time and capture unforgettable WWE moments and superstars to generate NFTs. Furthermore, making it available for fans’ purchase via a digital license that would be accessible through crypto or normal currency. 

The parent company of Blockchain Creative Labs is Fox Entertainment. An organization that is no stranger to WWE as it airs the weekly Smackdown show on Fox TV. The promotion’s Senior Vice President, Revenue Strategy and Development, Scott Zanghellini issued a statement along with the deal in 2021.

He 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.”

The WWE has always stayed relevant with its adaptability in different times. This has been a major reason behind the company’s consistent growth while its competitors have faded away. This major deal in 2021 would have surely made the company’s task of managing its digital assets easier.

And more so, would have provided the fans to own digital collectibles for their favorite legends, such as The Undertaker or John Cena. What do you think?

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