WWE, Fox Eye $100,000-Plus Haul Through ‘Hell in a Cell’ NFT Collection Sale
02.06.2022 - 20:53
/ variety.com
Todd Spangler NY Digital EditorWWE is hoping to pin down some cash in its first sale of NFTs featuring the wrestling entertainment company’s top stars.WWE, together with Fox Entertainment’s Blockchain Creative Labs, on Friday, June 3, plans to launch its its first NFT (nonfungible token) sale on Moonsault, WWE’s official NFT marketplace. The limited-edition collection will comprise more than 10,000 “NFT Flips,” each featuring a WWE Superstar tied to the Hell in a Cell event, which in the U.S.
will stream live this Sunday, June 5, on NBCUniversal’s Peacock.The NFT Flips will be sold on WWE Moonsault in “Cases” of three, randomized at minting, for $30 per Case, meaning the sale could generate upwards of $100,000. In the days after Hell in a Cell, each NFT Flip will transform to reveal a 10- to 20-second video highlight of the featured WWE star.
The hope is that WWE’s ardent fanbase will buy into the digital-collectibles hype. The craze behind NFTs, which verify ownership of unique pieces of digital content using distributed blockchain technology, caught fire in early 2021.
Entertainment and media companies have embraced NFTs as a way to generate incremental revenue, as well as stoke fans’ engagement with their brands — by letting them literally invest in content tied to popular franchises.WWE and Fox, which announced their NFT partnership last year, debuted Moonsault on May 27 during “SmackDown” on Fox. They promoted the launch across WWE and Fox media platforms, as well as on WWE’s Discord channel.
The first 10,000 fans to create a wallet on the platform received a free Moonsault Genesis NFT, all of which were claimed within only a few hours. As of June 2, those NFTs had an active listing value of $1.47 million on the
.