With over $29 billion in market cap according to CoinGecko, non-fungible tokens (NFTs) are a big deal and the WWE yearns to get in.
The World Wrestling Entertainment (WWE) announced it would be releasing an array of NFTs on Saturday, April 10, 2021, a few hours before WrestleMania 37 Night 1. Each of these NFTs will be moments from the legendary life of famous and award-winning wrestler Undertaker aka The Deadman.
Scheduled to come in four folds; bronze, silver, gold, and platinum with bids for the bronze tier starting at $100 and the platinum tier at $10,000.
Auction winners of the platinum tier will get a personalized video from the 1997 Slammy Awards winner, a replica Championship belt, VIP tickets to next year's WrestleMania and a few other collectibles.
With the NBA already selling moments and clips as NFTs on the NBA Top Shot marketplace, this move by the WWE will not only boost global revenue but will set them on the path of innovation.
Following a consortium with NBC Peacock to air the annual wrestling event, this year’s WrestleMania will be the first time since 2013 the annual show won't be aired on the WWE Network.