WWE Inks Deal with Fanatics to Offer Fans an Enhanced NFT Experience

To render its fans a new experience through non-fungible token (NFT) trading cards, World Wrestling Entertainment (WWE) has signed a deal with digital sports platform Fanatics. (Read More)

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Nifty News: Wolf snaps up Punk, Disney NFTs, Economist mag cover fetches $422K...

The real-life Wolf of Wall Street Jordan Belfort has vowed that he is “not leaving” NFTs, The Economist raised $422,000 for charity via NFT auction, and the WWE is dropping NFTs.

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WWE star John Cena holds an NFT sale, calls it a ‘catastrophic failure’

John Cena, a professional wrestler and actor famous around the world for his participation in the World Wrestling Entertainment (WWE) recently decided to get into the crypto industry’s NFT sector. The WWE champion made his NFTs available to the fans last month, and the sale ended up being a ‘catastrophic failure,’ as Cena said himself.

The crypto industry’s NFT sector has exploded in 2021, becoming one of the most popular and most diverse sectors that crypto has ever seen. However, that doesn’t mean that every project ended up being successful. This is already a sign that the crypto industry is maturing, as you could hardly find an unsuccessful ICO back in 2016 when investors were willing to buy just about anything if it meant potential profits.

Cena’s NFT sale is one of the best examples that, if the community doesn’t like the token, the sale is bound to fail. Speaking during the Florida Supercon 2021 last week, the actor/wrestler said that he now realizes that marketing his WWE NFTs as part of a package with physical collectibles was a mistake.

The physical collectibles in question included things like a shirt, a towel, a hat, wristbands, a belt, as well as an autographed picture. All in all, there were 500 gold-tier packages with the NFT, costing $1,000. However, only around 7.4% were purchased by the community, which is truly only a small fraction.

Cena admitted that the idea failed, and that he and his team were wrong to think that $1,000 was a fair price point. The NFT sale only ended up selling 37 NFTs, which he sees as a catastrophic failure, as mentioned.

For now, it remains unclear whether the community was deterred by the NFT price or by physical collectibles. According to Cena’s own estimate, digital artwork should be worth roughly $500 per piece, so doubling that price may have been the wrong move to make.

The post WWE star John Cena holds an NFT sale, calls it a ‘catastrophic failure’ appeared first on Invezz.

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John Cena Admits His WWE NFT Series a Catastrophic Failure

John Cena features in an NFTs series launched by WWE. WWE sells only 37 out of 500 kits or 7.4%.

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Snoop Dogg Sports Blinged-Out Crypto Hardware Wallet at Wrestlemania 39

Four days ago, the American rapper, entrepreneur, and owner of Death Row Records, Snoop Dogg, hosted WWE’s annual event, Wrestlemania 39, in Hollywood. The rap star was spotted wearing a gold and black diamond Ledger Nano X around his neck on a gold chain. Over the last year, Snoop has been one of several hip-hop [...]

The post Snoop Dogg Sports Blinged-Out Crypto Hardware Wallet at Wrestlemania 39 appeared first on Crypto Breaking News.

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