In Brief:
- WWE has announced its joint venture with Fox Entertainment’s Blockchain Creative Labs.
- This deal encapsulates an effort to celebrate WWE’s catalog of digital assets.
- The MarketPlace for this purpose will be powered by Eluvio’s blockchain technology.
It seems, WWE is bitten by the NFT bug too!
On 27 October, Wednesday, a tweet by WWE revealed its “a multi-year pact” with Fox Entertainment’s Blockchain Creative Labs to launch an NFT marketplace for licensed digital WWE tokens and collectibles.
On this launch, WWE remarked, “In collaboration with Blockchain Creative Labs, WWE will create authentic NFTs in collaboration with Blockchain Creative Labs, that celebrate the company’s entire catalog of digital assets, including its most iconic moments, past and present WWE Superstars and premier events, such as WrestleMania and SummerSlam.
It is worth mentioning that the marketplace is set to be powered by Eluvio’s “eco-friendly” blockchain technology. This will function as a focal point for consumers to trade, purchase, sell and store digital tokens, and that in turn, will be verified through Eluvio’s blockchain.
In addition to this, the marketplace will be interoperable across Ethereum and other blockchains. The marketplace’s name and launch date are yet to be revealed.
In a bid to monetize on the popularity of entertainment houses and also to rekindle fans’ growing interest, many companies see releasing NFT tokens as a “perfect channel”.
It is not the first time that WWE has tag-teamed with the crypto tokens, WWE had recently released NFTs inspired by John Cena. In April, WWE had dropped a set of NFTs to highlight the career of retired star, Undertaker.
As for Blockchain Creative Labs, it will launch a dedicated digital Marketplace for Dan Harmon’s upcoming animated comedy, Krapopolis. Thus, creating history as the first animated series to be curated entirely on the blockchain.
