World Wrestling Entertainment, Inc. plans to release its first-ever non-fungible tokens (NFTs) to showcase great moments of legendary iconic fighter – Mark William Callaway, popularly known as by ring name the Undertaker.
The goal behind the launch of these NFTs is to celebrate the Undertaker’s legacy and increase fan engagements. Of course, the Undertaker is recognized as the best WWE superstar of all time who won several titles during his wrestling career, including three-time World Heavyweight Champion and maintaining the longest unmatched winning streak at WrestleMania, with twenty-one wins and zero losses. The Undertaker retired from professional wrestling in November 2020, after 33 years of engaging in wrestling activities.
The WWE – the New York stock exchange-listed firm – has partnered with cryptocurrency wallet provider Bitski to roll out the initiative.
The WWE will drop the NFTs on Bitski’s website today April 10 at 10:30 AM Eastern time. The NFTs would be available for auction purchases in two instalments between April 10 and April 11. Participants would need to have a Bitski account, and winners will get NFTs in their wallets.
The Undertaker NFTs will be offered in four tiers – Platinum, Gold, Silver, and Bronze. The Platinum tier has an opening bid of $10,000 while the Gold one has an opening bid of $5,000.
Silver and Bronze tiers have fixed prices of $1,000 and $100 respectively, with some limited offerings.
The higher bidder for the platinum tier will get two front-row tickets for WrestleMania 38 in 2022 and WrestleMania 39 in 2023, and also get VIP access, hotel accommodation, and a personalized video from the Undertaker himself.
In the recent past, Triple H, a retired professional wrestler and the current WWE executive vice president talked about the integration of NFTs into the sports during an interview with fight author and podcast creator Jeremy Lambert. However, he was unsure when such integration into wrestling sports would happen.
NFTs Attracting Investors’ Interest
Non-fungible tokens (NFTs) are digital blockchain tokens that represent ownership of unique items (such as music, art, real estate or even casks of whiskey), whether physical or digital. They are something with units (value) which can be bought and sold like any other piece of property, but they have no tangible form of their own.
NFTs have become the latest craze in the digital and crypto asset world and the hype around such tokens has currently resulted in an explosion of digital art being sold via blockchain technology. Currently, there is a significant growing interest among investors in these tokens.
For example, Twitter founder Jack Dorsey recently sold his first NFT tweet for $2.9 million. A blockchain company recently bought a Banksy art piece worth $95,000. Millions of people across the globe have seen Beeple’s art sold for $69 million and the image has been copied and shared countless times.
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