WWE announces the launch of first NFT collection 

WWE recently announced that their Non-Fungible Token (NFT) marketplace 'Moonsault' is set to sell its first NFTs.

In association with Blockchain Creative Labs, a studio owned by Fox Entertainment, the company aims to sell over a limited edition of 10,000 NFTs. This will feature superstars competing in the upcoming Hell in a Cell premium live event this Sunday.

The announcement of the launch of the marketplace was made by Scott Zanghellini, WWE Senior Vice President and Head of Revenue Strategy & Development and Scott Greenberg, CEO of Blockchain Creative Labs.

WWE shared the announcement via a press release which stated:

"Tomorrow, Friday, June 3, WWE Moonsault will debut its first official NFT collection in advance of the annual WWE premium live event HELL IN A CELL. The marketplace’s launch was announced today by Scott Zanghellini, WWE Senior Vice President, Revenue Strategy & Development, and Scott Greenberg, CEO of FOX Entertainment’s Web3 studio Blockchain Creative Labs (BCL)."

It also stated that in the days following the premium live event, the NFT Flips would transition into a 10 to 20 second video highlight of the featured superstar and would be sold in cases of three.

"The limited-edition collection will include 10,000+ “NFT Flips,” each featuring a WWE Superstar tied to the HELL IN A CELL event. In the days after HELL IN A CELL, each NFT Flip will transform to reveal a 10-20 second video highlight of the featured Superstar. The NFT Flips will be sold on “Moonsault” in “Cases” of three, randomized at minting, for $30 per Case. “Moonsault” will be powered by Eluvio’s eco-friendly blockchain technology."

Fans will be required to create a digital media wallet via Eluvio and purchase or trade NFTs through credit cards or cryptocurrencies.

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WWE also partnered with Fanatics to launch NFTs earlier this year

In March this year, the company, in partnership with Fanatics, a global digital sports platform that deals in trading cards, NFTs and merchandise, entered into a long-term agreement.

The announcement highlighted:

"WWE and Fanatics today announced a comprehensive, long-term sports and entertainment partnership that will see Fanatics utilize its expanded digital sports platform to create a new, enhanced experience for fans globally across several businesses, including e-commerce and licensed merchandise, as well as physical, digital, and non-fungible token (NFT) trading cards. Through the ground-breaking deal, WWE will benefit from many capabilities across the Fanatics platform to create more opportunities for its global fanbase to showcase their pride and passion for the company, its marquee events, and star-studded roster."

Vince McMahon led the company and announced their venture into NFTs last year in collaboration with Fox Entertainment. The first 10,000 fans who created the wallet were rewarded with a free Moonsault Genesis NFT, which currently has a value of $1.47 million.