The WWE, previously known as WWF, is the world’s top professional wrestling entertainment association. Now, it looks like the massively popular entertainment company is diving into the NFT industry. Here’s what’s going on:
WWE Signs Long-Term Deal With Fanatics
NFTs have become a hot commodity in the sports world. Autograph, a company by Tom Brady, and NBA Top Shot, by Dapper Labs, have been exploring the space for some time.
Now, according to various reports, World Wrestling Entertainment, or the WWE, has inked a long-term merchandising deal with Fanatics, a sports merchandise and digital collectibles goliath.
The report suggests that the deal includes officially licensed WWE NFTs, or non-fungible tokens. These digital collectibles will be offered through Fanatics’ Candy Digital division. The deal also includes trading cards operated through Topps, a company Fanatics acquired from Michael Eisner, the former CEO of Disney, earlier this year.
The deal also includes physical and digital licensed merchandise and Fanatics plans on launching a shop centered around WWE this summer.
The company also said its items will be designed, manufactured, and sold in real-time, on-demand based on unpredictable moments from WWE events.
In a statement, Vince McMahon, Chairman and CEO at WWE, had the following to offer:
“Fanatics is the industry leader and Michael Rubin is a visionary. We believe this multi-platform partnership will set a new standard for WWE e-commerce, apparel and merchandise, while providing our fans globally with more ways than ever to engage with WWE and our Superstars.”
The above statement was followed up by Michael Rubin, CEO at Fanatics. Here’s what he had to say:
“WWE is one of the most widely admired sports and entertainment properties worldwide, and it made perfect sense to activate many parts of our Fanatics global platform to create a first-of-its-kind, all-in fan experience. From e-commerce and licensed merchandise to trading cards and more, we’re going to offer up an incredible set of capabilities to help WWE’s passionate fans worldwide celebrate their favorite Superstars, marquee events and the WWE brand overall.”
The Bottom Line
The bottom line here is simple. WWE is the next in a long line of massive names that see value in the NFT space. As mentioned over and over again, as these big names dive in, NFTs are becoming an integral part of the sports, entertainment, and art industries.