WWE has been exploring the NFT marketplace for some time now. It was announced last October that the company had partnered with Fox Entertainment, Bento Box Entertainment, and Blockchain Creative Labs on a new venture for the expensive-but-not-real collectibles. More details have now been announced.
Stephanie McMahon unveiled the new platform at SXSW yesterday. The new platform will be called “Moonsault.” A landing page for the NFT marketplace has been launched.
WWE did not provide details on specific dates the new NFT’s will start to drop. Fans can submit their email address to receive notifications. For now, the page is just a placeholder with a form to enter an email address.
Stephanie McMahon did mention that WWE was exploring the possibilities of the metaverse at the final quarterly earnings call for 2021. The statement given was vague. The new website is even more unclear.
Non-fungible tokens use blockchain technology similar to Bitcoin and other cryptocurrencies. Purchasers are provided with a digital receipt proving their ownership of anything from an animated image to a video or audio recording. Critics have questioned investors spending money on items that can easily and instantly be digitally reproduced.
Despite some backlash in certain circles over NFTs, WWE is moving forward with the venture. There are certainly fans out there who will pay money to say they own an image that can be recreated in seconds, and WWE is happy to take it. Time will tell if the venture is more successful than the company’s first foray into the space.
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