WWE Launches New NFTs, And ‘It’s John Cena’ World Wrestling Enter NYSE:WWE

It’s unclear if wrestling fans were deterred by the price of the NFT — Cena, himself, estimated the digital artwork to be worth roughly $500 — or just the physical collectibles. In July, an entrepreneur launched simultaneous auctions for a job application from Apple co-founder Steve Jobs and an NFT of the same. The physical paper ended up selling for $343,000, while the final bid for the NFT was 12 Ether , or roughly $27,460 at the time. John Cena’s NFT failure has been dubbed “catastrophic” by Cena himselfThe actor and World Wrestling Entertainment legend offered fans 500 ‘gold tier package’ non-fungible tokens last month. Because it allows an art market that was previously very closed and exclusive to be opened up to potential disruptors, NFTs are known as the “people’s token”. They allow for quality artwork to be created and distributed to fans.

John Cena NFT

Instead, the group provided 500 $1,000 gold tier packages with the NFT, but only a tiny percentage of them were sold. The organization offered 500 gold tier packages with the NFT for $1,000, but only a fraction of them sold. The drop will characteristic a platinum tier public sale that features a one-of-one unique NFT. The NFTs shall be offered together with Bitski and obtainable at nftgamef.com/NFT. https://latamcoinnews.com/digital-asset-marketplace-apifiny-prime-granted-finra-broker-dealer-license-approval/ The platinum tier public sale shall be reside for twenty-four hours, starting at first of SmackDown this Friday, August 20 at 8 pm ET via the beginning of SummerSlam on Saturday, August 21 at 8 pm ET. As previously reported, WWE released a unique John Cena NFT kit during the week of WWE SummerSlam 2021 that featured a unique John Cena platinum NFT along with some other items.

OpenSea has any costs?

This marketplace is built on the Ethereum blockchain technology, and this is used for most processes. It is also based with the Polygon blockchain to ensure lower costs and faster trading. The goal to create OpenSea was to offer an online marketplace for artists to upload their commissions with no additional charges. There are additional features that allow you to sell your artwork without any issues. If you’re familiar with cryptocurrency you’ve probably heard of OpenSea before for a good reason.

WWE has openly discussed NFTs being a potential revenue driver. The failure of the Cena NFT launch could be used as a lesson that it’s better to price low and sell out fast than to price too high and leave supply on the table. One of the hot stories of 2021 has been the rise of interest in non-fungible tokens. Many athletes and sports leagues have tried to capitalize on the rise in NFTs by launching digital assets.

  • Additionally, as a seller, you will be verified after you have built up your credibility.
  • In terms of the registration process, you don’t have to provide any personal information about yourself.
  • You can then designate what token you’d like to accept payment in, either EtH, WITH, DAI, or USDC.
  • This means you’ll be able to make the highest profits once you begin selling since you won’t need to spend on extra fees.

This increases the value of things and decreases the chance of inauthentic or pirated work appearing on different platforms. Lastly, click create and watch your collection space develop. After the collection has been set up you can add items and upload up to 100MB of your work. Add a name to each item you upload and a subsequent description, mark it for sale, and just like that, you’re a certified NFT creator.

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The decentralized blockchain and NFTs bring a lot of freedom to Africans that may not have had access to that freedom before. As a result, it is easier than ever before to make a living out of making art. They no longer had to deal with government restrictions, unavailable resources, or the difficulty of traveling to sell their https://latamcoinnews.com/ creations. That’s why Afrofuturism is heavily linked to the NFT movement. A particular group in the world is more excited about the NFT space than most other groups. Amongst the many reasons, one of them is because many Black creatives see this as an opportunity to be reimbursed for the works they’ve been doing finally.

So, why was the John Cena NFT collection such a failure?

At OpenSea it’s an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything the simplest domain name to an official artwork by an artist you admire. Anyone can be a seller, but it takes some time for anyone to become a reputable one. The most widely-used cryptocurrency that is used within the OpenSea market is Ethereum .

Whitney Houston’s unreleased track was sold as a non-fungible token for $999,999. OneOf, a music-focused marketplace, was utilized to sell the NFT. Long before the rise in popularity of NFTs, the WWE veteran promoted the crypto space on social media. He shared a picture of the physical token before the 2017 Bitcoin bull run when the price was in the $4,000s. The Undertaker, a retired professional wrestler who was a member of the WWE until 2020, has also appeared in NFT collections.

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