In a surprising twist, the ongoing battle for supremacy in professional wrestling between All Elite Wrestling (AEW) and World Wrestling Entertainment (WWE) is now occurring on the web3 front. AEW has made a daring foray into non-fungible tokens (NFTs) with their latest offering: the “AEW Sensations” digital collectibles. Meanwhile, WWE’s Moonsault NFT series has been grappling with diminishing engagement and waning interest, raising doubts about the future prospects of NFTs in the wrestling industry.
Can AEW find success where the WWE couldn’t?
The WWE Moonsault NFTs were initially offered at $30 per case, with the anticipation of generating over $100,000 in sales. Unfortunately, the actual results have been underwhelming, as the total secondary market volume for WWE Moonsault NFTs currently stands at a meager $93,719.16, with an average price of $14.61.
Despite the lackluster WWE NFT collection, the AEW is confident in its newly formed collaboration with Upper Deck. This exclusive partnership is strategically designed to harness the immense following of AEW’s acclaimed weekly television shows, “AEW: Dynamite” and “AEW: Rampage.”
Unlike WWE’s Moonsault NFT series, which has witnessed limited engagement on the Content Fabric blockchain, AEW maintains a positive outlook on its joint venture with Upper Deck. Mark Caplan, Vice President of Licensing and Games at AEW, exudes confidence in the collaboration, affirming:
“AEW’s passionate fanbase, along with Upper Deck’s legacy and unique position in the industry, has led to something truly spectacular for fans and collectors with the release of these Authentic Digital Collectibles.”
Combat sports market is collectively adopting NFTs
The web3 phenomenon seems to be spreading beyond professional wrestling and pervading the broader world of combat sports. Paige VanZant, a former UFC fighter turned AEW wrestling star, also released her own collection of NFTs back in June of last year. Although not an official release by the AEW, the collection features the model and fighter Paige VanZant utilizing novel 3D technology.
Another example is the PFL, a rising mixed martial arts (MMA) organization that recently adopted a ticketing system based on NFTs. Similar to AEW, the PFL seems to be leveraging Web3 strategically to distance itself from its rival, the UFC.
The battle between AEW and WWE is heating up with AEW’s foray into the world of NFTs. While WWE’s Moonsault NFT series has faced challenges in garnering attention, the platform behind WWE’s NFT ecosystem, Eluvio Blockchain, has forged significant partnerships with notable entities such as Fox Entertainment and Blockchain Creative Labs.
Only time will tell if the WWE can eventually make up for the lost ground with the new partnerships. It will also be interesting to witness how the AEW will tackle the same obstacles faced by the WWE with this new NFT collection.
This information is published by the NFT News media team.
