WWE has entered the NFT market with their own platform, Moonsault. Why is WWE getting into the NFT game? What will be on offer? And what is an NFT?
Yesterday at #SXSW, WWE Chief Brand Officer @StephMcMahon announced WWE’s new NFT platform, WWE Moonsault!
Head to the site and sign up for additional details ➡️ https://t.co/cLAl9Sr8jq pic.twitter.com/tQtbUlxGeJ
— WWE (@WWE) March 14, 2022
Let’s dive in.
Related: UFC’s Ariane Lipski Makes History With NFT Capture
Moonsault will launch in the days before WrestleMania 38*. Details are scarce, but based on previous NFT offers from WWE, we can expect trading-card like “tokens” that consumers can buy and trade. We do not know if Moonsault will be the only place where you can trade in the NFTs or if they will be available on OpenSea or other NFT trading platforms.
Reportedly attendees at the announcement got their own special NFTs.
WWE Moonsault NFT for SXSW attendees. #NFT #WWE #SXSW2022 #FOX pic.twitter.com/bMOlmFd1bg
— NICK (@wonick_park) March 17, 2022
This isn’t the WWE’s first foray into NFTs. In the lead-up to last year’s Wrestlemania, they sold a variety of NFTs to honor the Undertaker.
The @WWE’s Wrestlemania NFTs went live at 10:30am ET.
Within two minutes, the 1/1 Undertaker NFT, which comes with a host of other opportunities, reached $100,000 https://t.co/uSGg8vzxX5 pic.twitter.com/Ul2yya7Kgu
— Darren Rovell (@darrenrovell) April 10, 2021
Reaction to the announcement was mixed.
I want a tout nft pic.twitter.com/E7seFA4gqz
— Sitting Duhk (@SittingDuhk) March 14, 2022
Just took this screenshot of WWE’s NFT announcement. For $500 you can own it. Invest now! #WWE pic.twitter.com/cjexgeMkbC
— The Forbidden Dork (@WrestleSnark) March 15, 2022
What Is An NFT?
NFT stands for “Non-Fungible Token” and acts as a digital authenticity certificate. NFTs are a unique bit of code that theoretically provides proof of ownership of a digital asset such as a picture, film, or piece of audio. NFTs are relatively hard to regulate since you can screenshot an image or copy a media file. There have been numerous scams and Ponzi schemes attached to NFTs.
Think of them like trading cards or rare wrestling figures. They will probably sell well among WWE’s hardcore fan base, where collecting is popular.
I don’t mess with NFTs or cryptocurrency, for that matter. It seems like too much of a speculative market, and there’s nothing concrete backing it up.
In a related story, Mila Kunis is producing an animated show about WWE wrestlers where NFT holders get to help decide the plot.
‘South Park meets WWE’
Fresh from her success with Stoner Cats, Mila Kunis is involved in a new animated NFT series about washed-up wrestlers battling to regain their status
Fans who own NFTs will be able to vote on storylines https://t.co/TeeKcnpCU8
— CoinMarketCap (@CoinMarketCap) March 14, 2022
Related: Former EA Communications Manager Says Backlash To NFTs In Gaming Is Just An Example Of How “Gamers Love Hating Things Together” Compares It To How Gamers Hate EA But Spend Thousands on FIFA
Would you buy a WWE NFT? Let us know in the comment section below.
Next, Read This: Five Facts About Omos – WWE’s Newest Colossus
*side note: it appears WWE is numbering WrestleManias again.
Categorized: Ringside Intel Sports Wrestling