WWE has joined forces together with Fox’s Blockchain Creative Labs in an NFT agreement.
WWE has stepped up its collaboration and partnership with Fox FOXA by announcing a multi-year contract to create a Non-Fungible Token (NFT) market. The NFTs will offer licensed collectibles that pay tribute to the iconic moments of WWE Superstars at WrestleMania, SummerSlam, and many other unforgettable WWE events. Fox shows WWE Friday Night SmackDown amid a huge billion-dollar deal that was signed in the year 2019. Through the Blockchain Creative Labs NFT imprint (spawned by a collaboration with Bento Box Entertainment), Fox’s NFT partnership with WWE will include its first NFTs out of its Fox umbrella. Blockchain Creative Labs currently manages an artistic fund of $100 million. Alongside NFTs devoted to the popular series The Masked Singer, Fox’s forthcoming animated comedy KRAPOPOLIS is set to become the first animated show to be entirely created using blockchain.
“Blockchain Creative Labs has fastly become a leader in the space with an unbelievable executive team that frankly understands the NFT arena and its tremendous potential,” said Scott Zanghellini, WWE Senior Vice President, Revenue Strategy & Development in an announcement.
“This partnership allows us to deepen our connect with FOX as we continue to explore the latest and creative ways to engage our passionate fan base.”
Fans can make use of Eluvio’s digital wallet to buy collectibles with traditional currencies or cryptocurrency. WWE continues to look for potential in the NFT sector, as it announced its first NFTs earlier in the year. The first NFT included The Undertaker. Before SummerSlam season earlier in the season, WWE followed in John Cena NFTs. Both NFT releases were held in combination with Bilski.
WWE has already experienced huge gains from the monetization of its past via its WWE Network, which was licensed to the NBC Peacock last year through the form of a billion-dollar contract. With the NFT market booming, the WWE plans to tie its numerous iconic moments, not to mention its devoted fan base–to the selling of NFTs.