to Crash Into NFT Ring With Fox, Chasing Digital Collectibles
Gold Rush -
27th October 2021
is the latest entertainment company to catch NFT fever.
wrestling entertainment producer inked an exclusive,
multiyear deal with Fox Entertainments Blockchain
Creative Labs to launch an NFT marketplace for licensed
digital WWE tokens and collectibles.
the pact, WWE said it will create authentic
NFTs that celebrate the companys entire catalog
of digital assets, including iconic moments,
WWE Superstars, and tentpole events like WrestleMania
and SummerSlam. Details including the NFT marketplaces
name and launch date will be announced in the next
few weeks, the companies said.
whats an NFT, and why would someone want to
own one? In a nutshell, nonfungible tokens provide
a way to authenticate ownership of unique pieces of
digital content using distributed blockchain technology:
NFTs are virtual collectibles akin to real-world artwork
or baseball cards. The trend caught fire earlier this
year in the art, music and sports worlds. Since then
a growing number of studios, networks and TV shows
have joined the NFT fray, including Fox Entertainment,
ViacomCBS, Warner Bros. and DC, CNN, Lionsgate and
The Ellen Show. (Even Variety is getting
in on the NFT action.)
media and entertainment companies, NFTs represent
a new way to monetize their intellectual property
as well as a new touchpoint to keep fans invested
(literally) in their brands. Its not WWEs
first foray into NFTs: In April, timed for WrestleMania
37, it dropped a set of nonfungible tokens highlighting
the career of recently retired star The Undertaker.
Fox/Blockchain Creative Labs deal lets WWE deepen
our relationship with Fox, as we continue to explore
new and creative ways to engage our passionate fanbase,
Scott Zanghellini, WWEs senior VP of revenue
strategy and development, said in a statement.
and Fox previously tag-teamed in five-year pact that
moved Friday SmackDown Live from USA to
Fox Broadcasting starting in October 2019. The companies
said SmackDown Live on Fox will play a
key role in promoting the NFT marketplace to WWE fans.
participate in the forthcoming WWE NFT marketplace,
fans will first need to create a digital media wallet
through Eluvio the blockchain-infrastructure
provider in which Fox is an investor that will
let collectors purchase NFTs via credit cards or cryptocurrencies,
as well as trade and sell them.
Fox, the WWE partnership marks Blockchain Creative
Labs first content deal with a non-Fox property.
Earlier this month, Blockchain Creative Labs launched
The MaskVerse, an NFT destination for Foxs The
know WWEs passionate fan community will love
owning authentic digital goods across the organizations
creative universe from past and present stars
to classic, culture-defining moments, commented
Scott Greenberg, CEO of Blockchain Creative Labs and
co-founder/CEO of Bento Box Entertainment.
June, Fox Entertainment and Bento Box Entertainment
announced the formation of Blockchain Creative Labs.
The company plans to launch a dedicated digital marketplace
for Dan Harmons upcoming animated comedy, Krapopolis,
which it said will be the first animated series to
be curated entirely on the blockchain.
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