Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The battle for professional wrestling dominance between All Elite Wrestling (AEW) and World Wrestling Entertainment (WWE) has spilled over into the web3 arena as AEW has decided to enter the NFT space with the launch of their “AEW Sensations” digital tokenized collectibles.
This move comes despite the declining engagement and interest in WWE’s Moonsault NFT series, which was once launched on the Content Fabric blockchain with significant hype but now appears to have been abandoned by the company. Variety reported that the NFTs could be worth hundreds of thousands.
“The NFT Flips will be sold on WWE Moonsault in “Cases” of three, randomized at minting, for $30 per Case, meaning the sale could generate upwards of $100,000.”
However, the total secondary market volume for WWE Moonsault NFTs is only $93,719.16, with the average price at $14.61, a far cry from the hundreds of thousands they were touted to garner.
Source: WWE Moonsault
Upper Deck announced the exclusive agreement with AEW to introduce “AEW Sensations” on their newly launched online platform, Evolution. According to the press release, the limited edition “AEW Sensations” product features the top three highlights from the previous week’s live television broadcasts of “AEW: Dynamite” and “AEW: Rampage” shows.
The numbers surrounding WWE’s Moonsault NFT series reveal a stark contrast. CryptoSlate’s examination of several WWE Moonsault NFT contracts shows that in May 2023, the last transfers ranged from 7 days ago to 2 months ago, with an average of less than one transfer per week across the examined collections.
Furthermore, the entire Content Fabric blockchain averaged only 22 daily transactions, with most blocks produced on the blockchain having only a single transaction included. WWE’s last NFT drop was in November 2022, with the Survivor Series War Games NFT series.
Despite WWE’s Moonsault NFT series’ dwindling engagement, AEW remains optimistic about its partnership with Upper Deck. Mark Caplan, Vice President of Licensing and Games at AEW, stated,
“AEW’s passionate fanbase, along with Upper Deck’s legacy and unique position in the industry, has led to something truly spectacular for fans and collectors with the release of these Authentic Digital Collectibles.”
Eluvio Blockchain Technology, which powers WWE’s NFT ecosystem on the Content Fabric network, has also been involved with Fox Entertainment and Blockchain Creative Labs. As reported by Sports Video, they had announced an exclusive multi-year agreement to launch an NFT marketplace for licensed digital WWE tokens and collectibles.
The entry of AEW into the NFT space introduces another layer of competition between AEW and WWE.
The post AEW ventures into NFT space despite WWE Moonsault’s declining engagement appeared first on CryptoSlate.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.