WWE Prepares To Launch Digital Token Partnering With Fox Entertainment

OVERVIEW

  • FOX Entertainment and Bento Box Entertainment own Blockchain Creative Labs, a new NFT enterprise and creative studio.
  • WWE Superstars and events such as WrestleMania and SummerSlam will be featured in Blockchain Creative’s NFTs, which will be created in collaboration with WWE.
  • Fans will require access to the WWE digital wallet through Eluvio in order to participate in the WWE NFT marketplace, which will allow them to acquire collectibles using traditional currency or cryptocurrency.

World Wrestling Entertainment (WWE) has signed a multi-year collaboration with Blockchain Creative Labs to develop coins and digital collectibles on Labs’ platform.

FOX’s Bento Box Entertainment has launched Blockchain Creative Labs, a non-fungible token (NFT) concept. This will be the first time collectibles based on intellectual property not owned by Fox have been released.

The WWE collection will feature minted moments, past and present celebrity fighters, and the world premieres of iconic WWE events.

The NFTs will be powered by Eluvio technology, in which Fox owns a substantial stake. Eluvio’s blockchain runs on an Ethereum sidechain, making it compatible with Ethereum and maybe other blockchains.

Consumers must create a WWE digital wallet with Eluvio in order to participate in the launch, however payment can be made in both ordinary currency and cryptocurrency.

The role of Blockchain Creative Labs will be to create a marketplace for WWE to sell its digital assets. In addition, the project is developing a blockchain-based marketplace for Fox’s upcoming animated series Krapopolis. It has recently developed the MaskVerse app for the TV series The Masked Singer.

Here’s a Tweet from Eluvio confirming that WWE partnering with Blockchain Creative Labs.

The new agreement builds on Fox’s and WWE’s existing partnership. WWE’s “Friday Night SmackDown” has been shown on Fox Sports since 2019.

SHOWS TO PROMOTE DIGITAL MARKETPLACE

These shows will play an important role in marketing the new digital marketplace to WWE’s mainstream audience, as well as pique Fox’s interest in the idea.

WWE’s prime-time promotion of the project will bring notice to its NFTs from a wider audience than cryptocurrency enthusiasts. It also works the other way around.

It’s possible that Fox is simply searching for material to launch with Blockchain Creative Labs, but that doesn’t rule out the possibility of attracting a different audience than Friday Night SmackDown is used to.

“Blockchain Creative Labs has quickly become a leader in the space with an incredible executive team that truly understands the NFT arena and its tremendous potential.”—Scott Zanghellini, WWE Senior Vice President, Revenue Strategy & Development.

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