WWE Taps Fox Entertainment’s Blockchain Creative Labs to Launch NFT Marketplace
WWE is the latest player with plans to enter the NFT market, announcing a partnership with Blockchain Creative Labs – an initiative by Fox Entertainment. WWE’s NFT collection will be the first launch by Blockchain Creative Labs based on a property outside of Fox Entertainment’s ownership.
WWE has signed a five-year media and broadcasting agreement with Fox back in 2018, and this development could be a result of the previous deal. Senior vice president of revenue, strategy, and development at WWE, Scott Zanghellini, notes, “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.”
Previously, Blockchain Creative Labs had launched a collection of NFTs based on The Masked Singer – a popular singing competition on the Eluvio blockchain. WWE’s NFT collection will also be based on Eluvio and fans interested in purchasing these digital collectibles will need to create a digital wallet via Eluvia to serve as their NFT vault. After successfully opening their Eluvio-based digital wallets, users will be able to buy WWE NFTs using their debit cards, credit cards and even cryptocurrencies.
This is the second entry into the NFT space as far as WWE is concerned. Earlier this year, in April, the company had released Undertaker based digital collectibles as part of a promotional campaign for Wrestlemania. However, the Undertaker range of NFTs are hosted on OpenSea – the largest NFT marketplace in the world.
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