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Fox’s blockchain division partners with WWE for NFTs

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World Wrestling Entertainment (WWE) has partnered with Blockchain Creative Labs for a multi-year agreement to launch tokens and digital collectibles on Labs’ platform. Blockchain Creative Labs is the non-fungible token (NFT) project set up by FOX’s Bento Box Entertainment. This will be the first launch of collectibles based on intellectual property that Fox doesn’t own.

The WWE collection will include minted moments, past and present celebrity fighters, and premiers of iconic events promoted by the organization. The NFTs will be powered by technology from Eluvio in which Fox has a significant investment. Eluvio’s blockchain operates on a sidechain of Ethereum and hence is interoperable with Ethereum and apparently other blockchains.

To get involved with the launch, consumers have to create a WWE digital wallet through Eluvio, but payment can be made through regular currency as well as crypto.

Blockchain Creative Labs’ role will be to develop the marketplace for WWE to commercialize the digital assets. The project is also launching a marketplace for Fox’s upcoming animated show Krapopolis, which is curated entirely on blockchain. And it recently released the MaskVerse app for The Masked Singer TV series.

The latest deal expands an existing relationship between Fox and WWE. Since 2019, Fox Sports has broadcast WWE’s “Friday Night SmackDown”. These broadcasts will have a significant role in promoting the new digital marketplace to WWE’s mainstream audience while also giving Fox a greater interest in the project. 

For WWE, marketing the project in prime time will attract attention to its NFTs from an audience beyond cryptocurrency enthusiasts. And that also works in reverse.

Fox may very well just be looking for content to launch with Blockchain Creative Labs, but it doesn’t stop it from being an opportunity to attract a different audience than Friday Night SmackDown is accustomed to. 

“Blockchain Creative Labs has quickly become a leader in the space with an incredible executive team that truly understands the NFT arena and its tremendous potential,” said Scott Zanghellini, WWE Senior Vice President, Revenue Strategy & Development. “This new partnership allows us to deepen our relationship with FOX, as we continue to explore new and creative ways to engage our passionate fanbase.”

Meanwhile, Disney is looking to launch NFTs with VeVe, Mattel launched a Hot Wheels NFT collection, and digital marketplace RECUR partnered with ViacomCBS.